Dear Team, I am in the process of finalising my accounts as I have now retired. I have run the above report and found in the 1100 - Debtors Control Account a credit of £107 I have checked to see if there are any prepayments on account but cannot see anything. Any advice would be helpful.
Regards Martin
Hi Martin (@Fusion)
If you click the magnifying glass next to the entry on the report then it will bring up everything that has been included under that nominal.
You can then set a date range and export all of the data to a spreadsheet to be able to manipulate and help you to work out what the £107 has come from.
Hope that helps
Go to report menu, all reports, under other reports click on debtors/creditors report, enter date and run report, on top right you will have option to export data, once clicked, you will get excel report showing all debtors and prepayments listings on a particular date. This will help you sort out any prepayments issues on debtors
Thank you QFBeth and FaradayKeynes. I have done an export of accounts and have now found the payment. This was for an invoice which was raised on the 5th April but paid on the 16th April. As I do cash accounts due to being a Sole Trader can you advise how to reconcile this please. Also do I need to do anything special to finalise accounts as now ceased trading?
Regards Martin
Do you include a balance sheet in your accounts? If so then it would be shown as a debtor in the balance sheet as at 5th April.
If you don’t have a balance sheet then you can leave it alone. The invoice will be included in the profit and loss.
That’s based on a standard accounting method.
You say you do cash accounts. Do you mean cash basis? I’m unclear whether you mean cash accounting for vat or cash basis for tax.if it’s for tax then you would remove the invoice from the turnover when completing the accounts.
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