Closing off accounts

edddd1 Registered Posts: 5 Regular contributor ⭐ ? ⭐

Can anyone advise how to close of an account, ie an Admin expenses account, if it shows b/d figures and c/d figures both sides (debit and credit sides)



  • TidalMilky
    TidalMilky Registered Posts: 3 New contributor ?
    you dont really close off these accounts as any unpaid expenses will be brought down into the next financial year

    I assume if all expenses were paid during the financial year the brough down figure would be zero.
  • edddd1
    edddd1 Registered Posts: 5 Regular contributor ⭐ ? ⭐
    The reason I ask is that it was a question in the FRA simulation I took. I have no idea- and had never seen it before, with balance bought downs on each side, a bank entry on the debit side and then carry down figures both sides.

    I was, and still am, stumped.:confused1:
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    Possibly an accrual? I have seen it done like that
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