We actually have the receipt but it's missing, and the previous accountant didn't bother to record or make an entry (maybe forgot).
Cause right now, I don't know where to close the sale of that item since its not in our inventory list.
Sometimes you need to do a little detective work and reconstruct.
Was it an item that is normally sold by other vendors?
Is it an item that could be purchased through internet vendors who post
prices for products and go back to month/year of purchase to establish
the price at that time?
Then once you have that - then you need to consider where in the general
ledger that particular item would have been posted to.
If it is a large amount it is worth dealing with. If it is under £100 it is best to forget it. For my clients I would revise the accounts and
resubmit them for the year concerned. One is allowed to do so up to 4 years.