Allocate VAT repayment from previous accounting period
Question asked by Dave Gibbs 2 years ago
I hope someone can help me with this so here goes my explanation;
We started running clearbooks in house from 01/01/17, our company accounting year end is 31/01/17 (since incorporation on 31/01/2009 our books where run by our accountant), from 2016-2017 end of year we have received a Vat rebate of circa £150,000.00 and now when reconciling the bank statements I need to allocate this somewhere, how is best to do this as not to cause any issues with everything I have been accounting for since 01/01/17??
I am not very technical with CB and only really know the generic tasks that we complete weekly (invoicing/ creating bills/ reconciling the bank statements etc) so as much detail on the help from or some screen shots to guide me through would be amazing.
Thanks in advance on this one