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Treatment of Accruals

  • 6 posts
  • # 115805

Hello Everyone,

I would really appreciate, if someone puts light on it please. I am confused about how to treat Accruals, which were mistakenly created. 


on 31st January, I passed an Accrual for Water rates for £1000 (Estimate) and then on 1st February, I reversed the accruals leaving a credit balance in the Water Expense account in sage software for the month of February.

On 15th of Febraury, I came to know that, I have mistakenly created the accruals and no such invoice for water rates is expected. I produce monthly management accounts. Now the problem is previous month management accounts, I cannot adjust. What should I do in order to remove this credit balance in the water expense account?


Please help!!!




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