Debtors Control Account

We report our accounts on receipts and payments basis, so I need to take into consideration invoices that have not been paid

Accounts are prepared on Accrual basis not cash, especially for limited companies, vat can be done on cash basis. Very small sole traders can use cash basis subject to T&C

Thanks, this was due to be a longer question but pressed the submit key by mistake and couldn’t figure out how to delete. We’re a Scout Group so have to use receipts and payments method under a certain amount. Thank you anyway :smile:

OK, I guess you are registered charity, some can qualify to file accounts on cash basis

This topic was automatically closed after 7 days. New replies are no longer allowed.