Accruals and Prepayments in a work environment

MARLO30 Registered Posts: 5 New contributor 🐸
I could never get my head round these in theriory now I have to do them at work ! let me give u an example
we have six periods jan - june 1-6 for example so here goes

1) Invoice dated period 1 covers p2,p3,p4 rent for example
invoice goes on purchase ledger p1 then full total gets split over 2/3/4
via prepay ments ? Right

2)What if same happens but covers p3p4p5 do u do the same but the prepayment is split over 3/4/5???

3)anything that is dated feb(p2) but relates to jan (p1) goes through as p1 accurals , actuall invoice goes through purchase ledger P2

4)Invoice comes in dated p5 but relates to p2 goes through p4 accurals ?

5)invoice comes in dated p2 but it is now p6 what do i do with that ?

Any help ???
thanks in advance

I sort of have an idea as you can tell just need to no if i have the right idea !
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