UK Reversing Journal Entries


Joined
Jan 13, 2022
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United Kingdom
Hello.

I need to submit adjusting entries (monthly accruals) for rents payable on some of our office spaces. Our Finance dept asked to submit accruals for December 2021 so they can roll into next period i.e. Jan 22. Our rents are paid quaterly so we paid rent on 25th December for Jan-March. It's my first time submitting these entries so I am confused if I should submit a reversing entry for December accrual i.e. 1/3 of rent paid in September for Oct-Dec or the entire amount paid in December to cover Jan-March?

Thank you.
 
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Joined
Apr 1, 2020
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United States
Hi UKFellow

As you have a Finance Dept, it makes sense for you to ask them what to do here.

Regards

Kat
 

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