unit 5

when you calculate the credit sales, is it right to use receipts from debtors+ debtors at the beginning of the year - debtors at the end of the year.
if so, is it the right format to calculate other stuff like accruals and prepayment? thanks

Comments

  • katsutlieff
    katsutlieff Registered Posts: 459
    Have just done this today :thumbup:

    Sales for year= receipts from debtors in the year minusdebtors at the beginning of the year plus debtors at the end of the year

    Accruals and prepayments come into play for Expenses

    Expenses for the year= bank and cash payments minus accruals or plus prepayments at the beginning of the year plus accruals or minus prepayments at the end of the year.

    Hope this makes sense
  • meibaker
    meibaker Registered Posts: 481
    thanks so so so much for your help.
    best wishes.
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