Closing off accounts
edddd1
Registered Posts: 5 New contributor 🐸
Hi-
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)
Thanks
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)
Thanks
0
Comments
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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.0 -
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.:confused1:0 -
Possibly an accrual? I have seen it done like that0
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