Prior year expenses


S

Sulaiman

How do i record expenses of prevous year paid in this year. The transaction
was not recorded during the year it occured.
 
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D

DL

If your accounts for prior year have been finalised its simpler to cheat &
date them as of account year start date.
If however there are numerous records, or they are of substantial ammounts
then you would need to re do your previous years accounts
 
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M

Macy

Sulainan, Take into consideration what DL said. If you decide the
transactions should be in the prior year, Record them as bills and
they will become accounts payable at year end. That is what it is for.
Macy
 

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