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PREPAYMENTS

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  • # 115068

Hi everyone

I really can not get my head around Prepayments

I am hoping someone can help me because I know the correct answer but can not get to the figures:-

My company is VAT registered and the year end is 30th  Sept

I pay for a software licence for a year at a time and last paid on 31st Dec at a net cost of £2700, the balance on this account is currently £5380, what will the cost of the software licence be charged to the profit & loos account for the year.

Any help would be much appreciated in a simple format please - thank you

Stressed Mandy

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