Accruals

Coala

Hi all, I need a little help for year end accounts.
I have various invoices which were not included in 2008 accounts. Some of them are paid some are not. Like electricity I know it is accrual at the year end. But what to do with invoices what just were forgotten to be included?Are they just adjustments or accruals ?
Thanks

manafana

for invoices not received but for goods you have received you can create a GRNI accrual listing, which will list all your goods received which havnt been invoiced.

As for invoices you havnt included but you did receive you will need make an adjustment for these, and include them in your creditors.

Coala

so it is nothing to do with accruals? Am I right?

HeinekenTicket

Re the forgotten invoices, as long as they are dated in 2008 and goods/services were received in 2008, book them to as though they had never been forgotten - nothing to do with accruals.

Accruals are for goods/services received during 2008 for which invoices were not received in 2008 i.e. invoices were received and dated sometime in 2009, e.g. electricity used during 2008 but invoice not received until some time in early 2009.

Coala

Thank you for help,now I understand