Purchase accruals - report to NCIS?
A company purchases goods for resale and accrues for the cost in its accounts.
The supplier fails to submit an invoice and the goods remain unpaid for.
If the company that bought the goods does not take steps to obtain an invoice from the supplier despite knowing that they should have paid for those goods, would that amount to dishonesty and lead to the requirement for a report to NCIS?
Might the answer differ depending on whether the company purchasing the goods retained the accrual in its accounts or wrote it off at some point?
Any thoughts gratefully received!
Edward C Rands
- Now Scotland has voted "No", when does England get to vote? 1,631 74
- What code do you put expenses under such as tea & coffee? 727 16
- Can't read my handwriting 596 14
- Any Scottish members out there? 12,858 487
- Employing a carer 102 1
- How to prove to HMRC that you was not self employed? 182 11
- Fees for Property Tax Return 511 16
- PRR 438 14
- Sage Line50 Journal Entry Help! 195 13
- Corp Tax Refund 152 2
- Email hacker for hire ... 360 8
- Capital Gains Tax on title transfer 269 8
- IFRS and UK GAAP Adjustment Jrnls 68 2
- Donaldson V HMRC 209 1
- Audit partner? 258 6
- Losses on FHL Property 110 1
- SA302 for mortgage advisors 270 5
- Has anyone encountered this scenario 176 1
- corp tax software 990 13
- Does anyone use quotation software? 319 6
- Raiders of the Lost Tax File 1,371
- Chartered Accountant in County Down N.Ireland 516
- National Insurance 406
- Non Resident 315
- Hands on experience of Digita 240
- Best way to take money from a business if you have unlimited EIS allowances? 219
- Employer's Helpline 186
- CIS paid under reg 9 180
- Does anyone use PS Financials accounting software out there? 147
- Commercial rental property - still Schedule A? 143