Accrual, prepayment or both?

Hi everyone,
Sorry about this but accruals and prepayments just bug the life out of me....
I have to post our non-domestic rates bill to the accounts. The bill is dated 04/07/2018 and covers the period 01/04/18 - 31/03/2019.
The question is what is the best way to post this to the accounts ensuring that the cost is spread evenly throughout the year?
Thanks
Sorry about this but accruals and prepayments just bug the life out of me....
I have to post our non-domestic rates bill to the accounts. The bill is dated 04/07/2018 and covers the period 01/04/18 - 31/03/2019.
The question is what is the best way to post this to the accounts ensuring that the cost is spread evenly throughout the year?
Thanks
0
Comments
AAT Level 2&3 - 2016
AAT Level 4 - 2017
Personal Tax, Business Tax and External Auditing
ACA/CTA -
Certificate Level - Jan 2019
You don't need an accrual if you are posting an invoice as this will already debit the expense account.
@csAN89 good question - and again my apologies for missing out that critical piece of information. The year ends 28th Feb
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