Late Suppler Invoice

[finance40]

Hi, I have received a late supplier invoice after running year end. My accountant says that she will give me a journal to add it in as a creditor for last year but how do I process the invoice and the payment in Sage.
Help!

[brucedenney]

Your accountant has said they will give you a journal.

If we knew what the journal was then we would know what the accountant planned to do.

Unfortunately accounting practices vary greatly,

You could enter the invoice backdated to last year, the accountant could give you a journal to adjust the opening TB to account for this and move it from lastyear (B/F) in the profit and loss into retained earnings in the Balance sheet

You could enter the invoice deliberately "mis-dated" into this year and the accountant could make a provision for it in the prior year accounts, you could post the invoice against that provision.

I think you need to discuss this with your accountant.

Unless it is a significant amount, I would not even tell the accountant, just post it deliberately mis-dated to the first day of the new financial year.