Re: Invoice issued in one year and settled in the next - corporation tax?
- From: Alan Ferris <hairy.ferrit@xxxxxxxxxxx>
- Date: Fri, 16 May 2008 18:10:52 +0100
On Fri, 16 May 2008 14:04:05 +0100, "Connected"
<someone@xxxxxxxxxxxxx> wrote:
Hi all,
A couple of (probably naive) questions:
1) If an invoice is issued towards the end of a tax period isn't paid until
the next tax period, can it be accounted for (for corp tax purposes) in
either year
No.
The invoice is accounted for in the 1st year:
Cr Sales
Dr Debtor.
Then payment is accounted for in the following year:
Dr Bank
Cr Debtor
--
Alan "Ferrit" Ferris
()'.'.'()
( (T) )
( ) . ( )
(")_(")
.
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