DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Costs on different year


#1

I have received a invoice in January 2014. It was for the rent of December 2013.
How can I take care that the invoice and the payment are in 2014 but the costs is booked on the rent account of 2013.


#2

Have a look at this wiki article.

Basically, you should create new liability account in your Chart of accounts called Accrued rent payable and record journal entry in December 2013 which will debit Rent expense and credit Accrued rent payable.

This means your rent expense will show on Profit & Loss Statement as expense and the amount payable for rent will show on Balance sheet as a liability.


#3

Oke,

And when I recieve the rent bil I can do
debet Accrued rent Payable,
credit Accounts payable.

and with the payment I could do :
debet Accounts payable
credit bank or Cash.

Thanks,

Roelof