End of year subcontactor payment


How do I journal a subcontractor payment which is for half last year and half this year?

Did you book invoice from last year for Subi & this year too?

No not yet, is it best to do 2 invoice or 1?
I work there pay out daily so I want to put this years on 2015-2016 accounts and journal the last few days of 2014-2015 so they are logged on 2014-2015 accounts.

If you are not given invoice by Subi then you have to book accrual for last year through journal and full invoice this year, dont forget to reverse opening accruals for last year to get proper amount in P&L. Once invoice booked you can allocate payments against it

When I have the invoice and go to tag it do I put it through as 2 payment, one tagged against accruals and this years as sub contractor?

No, payment would be tagged all against invoice only

if accruals are on the debit what code for the debit?

sorry should have put
if accruals are on the credit what code for the debit?

Debit will be relevant P&L account

on my journal I only have 3200 Profit and loss account no P and L so when I choose the 3200 account the P and L doesn’t reduce?

6002 Sub-Contractors

I have now done a journal for last year amount owed (Accruals) and put invoice thought for last year and this year together which has been tagged as paid in full from current account.

How do I now balance the Accruals showing on the balance sheet?

Once you run year end routine for last year, it should reverse the accrual for you in next year if not you have to do journal manually to clear it, it will be exact opposite journal