Dates in expenses

yeimmyc15

Hello there,

I have received some expenses invoices dated May and July just now but we have lock the system until September.

Can we record these expenses as 01/11/2021 without affect any ethic rule?

Thank you so much in advance for your comments.

Elizabeth

Jay36598

It all depends. Ideally and ethically the expense and income should match the accounting period they relate to but in real life this perfect matching does not always happen.

In that case you should be able to make accrual adjustments in almost any (even basic) accounting systems, after or at period end.

When in doubt speak to your manager. If you’re the manager, then speak to your accounting software provider. If you’re doing manual accounting then kindly explain a bit more of what kind exactly are the expenses, what it the materiality level. Is it a one time thing? Then maybe you can use a Journal entry.