When to record payment made.

This topic has 1 reply, 2 voices, and was last updated 5 years ago by John Moffat.

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December 3, 2020 at 7:46 am #597447
dvamfire
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hi sir, i have a question. For example in 2019, we ordered goods and received. but purchase invoice receive after y/e. so we recognised accruals in 2019 right. My question is when I made payment in 2020, the payment made should record in 2020 right?
December 3, 2020 at 10:44 am #597483
John Moffat
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Correct. Payments are always recorded when they are actually made.
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