Today we received a utility bill for June 25 to August 25 and due September 28th. Currently, June and July are closed. Using the accrual basis would this mean I split the bill across all the months to match expense and revenue or do I record it all in August? if the expense is split will this impact sales taxes already paid ? Any help is appreciated.
Your paying the utility bill has nothing to do with sales taxes.
You can split across the months if you are really particular, but most folks just post the utility bill as of the date received. It all averages our over the year
Your paying the utility bill has nothing to do with sales taxes.
You can split across the months if you are really particular, but most folks just post the utility bill as of the date received. It all averages our over the year
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