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* Accruals Query *

AliciaAlicia Feels At HomeRegistered Posts: 40
If i do an accural in Sage accounts and then run the year end process - once im in the new year do i have to reverse the accurals? If so please could you explain why. Just trying to get my head round this!

Thank you xx


  • noodlesnoodles Trusted Regular Registered Posts: 308
    Yes you do have to reverse the accrual. The accrual is to capture the cost within the correct year and then the following year the actual should come into the accounts. You therefore reverse the accrual which will match off against the actual in the following year. This means that the cost will only be in once and also in the correct accounting year.
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