Accruals & Prepayments

DDOROURKE123 Registered Posts: 62
Hi, I'm struggling to understand the concept of this. I think I've learnt the basis

Accrued income
Debit accruals a/c
Credit income a/c

Accrued expense
Debit expense a/c
Credit accruals a/c

Opposite for prepayments

But apart from that (which I'm not 100% that is right) I don't understand anything else

I've taken the practise assessments on the aat website and I struggle to get near the answer... there's also not a prepayment version either :(

When I look through my books, it always seems to jump into the questions so quickly even though I haven't understood anything

Please help if you can


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