Incomplete Records

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Haggis
Haggis Registered Posts: 40 Regular contributor ⭐
in General accounting discussion
Hi, I would be grateful for some advice with a query I have with my client who is not good at keeping all of his paperwork. I have completed one years tax return and am now starting the next year. I have now come across a statement for some expenses that relate to the previous year which due to never having received the original invoices I knew nothing about. The amounts are not huge and obviously my return that I have just completed will be missing this expenditure but I am wondering how to deal with this. (the payment for these items was made in the April of the following year) I use Solar accounts and am wondering how to deal with this expenditure. Any help would be appreciated, many thanks

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  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    If it's of an immaterial amount, I'd date it in the first month of the current year and include it then.

    If was material then I'd amend the prior return.
  • Haggis
    Haggis Registered Posts: 40 Regular contributor ⭐
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    Thanks Monsoon, just wanted another opinion, I will definitely be doing a double check with him so hopefully it doesn't happen again. Does everyone have this kind of client - late, difficult to track down, missing paperwork etc !
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Yes, we all have at least one, and usually quite a few! It's just part of general practice :)
  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    You can say that again!!

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