Xero

Sales invoices with no VAT

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Hi, I wondering anyone could help.

We have a new Xero and I need to reconcile the bank.

My question is customer paid last year Sept 2023 relating to bunch of invoices before year end Aug 23, some invoices are from earlier 2023. 

Can I process the invoices in current year with actual dates and mark as paid or should I date 1st of September. 

 

Replies (6)

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By Matrix
17th Jun 2024 19:29

Book against the asset you set up in the conversion balances.

Thanks (2)
RLI
By lionofludesch
17th Jun 2024 20:38

Depends.

Are you on cash accounting?

Thanks (1)
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By cinnamint
18th Jun 2024 11:33

Why are they not already on the system?

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By Leywood
18th Jun 2024 12:12

Suggest you ask your Accountant for advice.

Info vague leading to there being too many questions as to why/what happened in the past/ no information about whether prior period has been locked/year ended/materiality etc.

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By Paul Crowley
18th Jun 2024 15:18

Ask your accountant. He probably knows the answers to the questions that need to be asked before anyone here can say what is best.

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