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
- NALS Accountants Report 85 1
- Do I need to report this to SOCA 3,455 35
- Legal title not in the company name 248 10
- Dividend dates 549 10
- simple one...capitalisation of legal fees on purchase of business 110 3
- Sole properietor 151 4
- transitioning payroll 223 8
- dividend proposals 86 2
- How to reclaim VAT that was missed off previous invoices? 219 2
- Deduction from Salary 282 8
- PPR exemption - can it be due on a bigger area than 0.5 hectares? 177 2
- Can I take action against my accountant for incompetence? 2,709 60
- Child Tax Credits - date of cessation of qualifying young person 80 2
- VAT on sales net of CIS suffered 431 10
- ACCA Cert/Dip in IFRS 156 2
- 12 Pay Problems 247 3
- VAT online filing exemptions 246 3
- Mutual trading organisation has chargeable gain 86 1
- Redudancy 91 1
- Redundancy pay for directors? 481 13
- Property exchange - 8-year legal delay following fall-out 621
- Cancelled 362
- SAGE Payroll Data for Import to MS Dynamics AX 342
- Cancelled 310
- Have you staged yet for auto enrolment? 282
- Probiz 271
- Free-standing washing machine - unfurnished lettings 230
- VAT on non-profit making clubs (ECJ VS West Dorset Golf Club) 227
- Phishing emails purporting to be from CIPFA? 202
- Is this UK incapacity benefit taxable in UK or Jersey? 175