Hi
I have a payment on account from Dec 2015 so I have recently asked for a copy of the invoice so I can clear this down. The invoice date is obviously a year old so whats the best way to post this?
I was thinking that since we have already paid it it shouldnt make any difference to the accounts if I use the correct date, but my boss has asked me to date it Sept 2016 (not having closed September yet).
What is the correct thing to do ?
Thanks
Tracey
Replies (7)
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Because software can be so clever it will put the said invoice into a earlier period and when you print out the quarters day book it will not be there I would recommend the following.
Post with invoice date the date of posting and put a narrative with the true date.
Well, there could be accounting or software reasons why posting the invoice with the document date is not the best thing to do.
Accounting is an art, not a science - on the assumption that the amounts are not enormous, and last year's accounts are filed - and, assuming you do not have a 'period' based accounting software - you should post with today's date - or perhaps the first or last day of the month.
If you have a period based system, you could post with the original date - but, my software (sage 200) is configured with limits to prevent too much back posting.
I would have no problem transacting the way your boss wishes.
be careful, whichever date you post it, that it gets picked up on a Vat return if relevant