Reply to: 145) Total turnover shown as £4000 though no invoice 21-22 in my draft account

[malvolio]

OP might not have a clue but hopefully their accountant does.

I'm not convinced about that either...

[TheCyclingProgrammer]

You're making the assumption that the OP has a clue what they are doing, and based on posting history, that is a massive assumption.

OP might not have a clue but hopefully their accountant does.

[WTFH]

If OP is running a Ltd company then it can only be the former as Ltd companies cannot use cash basis accounting.

You're making the assumption that the OP has a clue what they are doing, and based on posting history, that is a massive assumption.

[TheCyclingProgrammer]

Does your accounts run on when an invoice is generated, or when an invoice is paid? It could be raised in one year and paid in the next?

If OP is running a Ltd company then it can only be the former as Ltd companies cannot use cash basis accounting.

[TheCyclingProgrammer]

I think it is because you have an invoice in that period even though it wasn't paid. It appears in your books when the invoice is raised. You need to speak to your accountant. There may be a possibility to defer into the next accounting year when it was actually paid.

You can’t do that. Turnover has to be accounted for on an accruals basis. Even work in progress that hasn’t yet been invoiced by the year end should be accrued.

[northernladuk]

Does your accounts run on when an invoice is generated, or when an invoice is paid? It could be raised in one year and paid in the next?

Without knowing your full books we can't tell you what your own numbers are showing

He knows his full books and he doesn't know what numbers it's showing. Gonna be a tough one this

[SimonMac]

Does your accounts run on when an invoice is generated, or when an invoice is paid? It could be raised in one year and paid in the next?

Without knowing your full books we can't tell you what your own numbers are showing

[Lance]

Just bung a load of pound coins in an envelope and push it through HMRC's door. Anything else is going to be far too complicated for you.

you're joking aren't you?

Do HMRC have a car park? What's it like during rush hour?
The endless questions..... going on forever....

@OP - Don't even contemplate this.

[northernladuk]

Just bung a load of pound coins in an envelope and push it through HMRC's door. Anything else is going to be far too complicated for you.

[malvolio]

Um, I was replying to Darren, not you!

Ah, apologies, another senior moment.

Note to self - check the author of the bloody post!!

[WTFH]

Right, so I should hunt around for other bits of the puzzle. Sorry, didn't realise...

However, if you compare your bank account to your written accounts you ought to be able to see where the error has arisen. But if you can't be bothered to do that very basic piece of accountancy, then you're on your own.

Um, I was replying to Darren, not you!

[malvolio]

In one of the other 2 versions of this thread, I had responded with some questions (you've already answered a couple of them, so I've removed them from my list):

What do your bank statements say for the year?
How much of the story are you not telling us?
You say you've not had any invoices paid, do you mean you've not raised any invoices, or that no money at all has gone into your bank account?
If you don't trust your accountant, why have you not changed them?

Right, so I should hunt around for other bits of the puzzle. Sorry, didn't realise...

However, if you compare your bank account to your written accounts you ought to be able to see where the error has arisen. But if you can't be bothered to do that very basic piece of accountancy, then you're on your own.

[BlasterBates]

I think it is because you have an invoice in that period even though it wasn't paid. It appears in your books when the invoice is raised. You need to speak to your accountant. There may be a possibility to defer into the next accounting year when it was actually paid.

[WTFH]

In one of the other 2 versions of this thread, I had responded with some questions (you've already answered a couple of them, so I've removed them from my list):

What do your bank statements say for the year?
How much of the story are you not telling us?
You say you've not had any invoices paid, do you mean you've not raised any invoices, or that no money at all has gone into your bank account?
If you don't trust your accountant, why have you not changed them?

[malvolio]

Silly question, but what's in your actual bank account?