Refund from council

dina25 Registered Posts: 1 New contributor 🐸
I have received a refund from the council for a premises that the company was renting few years ago and this premises is no longer Rented by the company , i am wondering in which ledger account I suppose to record this refund, if I record it in the rate ledger account this wont reflect a true picture of the rate we are paying now for the premises that we have right now.


  • GMc23
    GMc23 Registered Posts: 19 New contributor 🐸
    Depends on the accountant's preference, I would always record a refund against the account the cost was posted regardless if it related to a previous year, just highlight on the description
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