General journal question

[silverxx12]

Hi

i have a pnl which is run on as accrual basis - my question is if i have expenditure say in 2012 which relates to 2011 accounts, or for that matter even in same tax yr but just need to show expenditure in Jul which should be accounted for in Jun what journal do i need to enter to shift the pnl to the correct period.

eg say i spend money on a program in Jun and only receive invoices post facto in jul so when i journal the entry i will be cr program fees but im not sure what i should be dr .. can anyone help me plz

tia

 

[CPAInsider]

In June you would book a DR to the expense account in June then a CR to an A/P account. The accrual would get reversed in July when the actual invoice comes in and then it would be booked normally to offset the accrual. The result would be no affect on the July results.