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Community Explorer **

How to record accrued expenses?

I receive an invoice today in March 16, Vendor actually provide the services for last year 2015. May I ask what are the steps to record this accrual expenses?

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Best answer 03-11-2019

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Established Community Backer ***

"But the services was provided by the vendor in last fisc...

"But the services was provided by the vendor in last fiscal year , so I think that I need to record that expenses in last fiscal year, isn't it?"

Then use Enter Bill and date that for last year. This is AP = accrued expense not yet paid.


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Established Community Backer ***

"But the services was provided by the vendor in last fisc...

"But the services was provided by the vendor in last fiscal year , so I think that I need to record that expenses in last fiscal year, isn't it?"

Then use Enter Bill and date that for last year. This is AP = accrued expense not yet paid.


View solution in original post

Community Explorer **

For my case, I ask my vendor to change its invoice date t...

For my case, I ask my vendor to change its invoice date to the last day of last year, so I record this as last year expenses ^^,and the date of paper invoice is same as the system record.
Established Community Backer ***

"For my case, I ask my vendor to change its invoice date...

"For my case, I ask my vendor to change its invoice date to the last day of last year,"

Due Date controls nothing except if the bill is Paid on time or not.

"so I record this as last year expenses ^^,and the date of paper invoice is same as the system record."

Bill date, not Due Date, creates the accrual entry for what is the details on the bill.


Established Community Backer **

This is not an accrual, it is a normal purchase. Some bus...

This is not an accrual, it is a normal purchase. Some business types would have reported the amount of the Bill as Work in Progress at the 2015 yearend. Record the Vendor Bill like any other with a date in the current fiscal year.

Community Explorer **

But the services was provided by the vendor in last fisca...

But the services was provided by the vendor in last fiscal year , so I think that I need to record that expenses in last fiscal year, isn't it?