Old Year Transactions
Old year transactions may continue to be posted until preliminary closedown is run.
The following may be entered:
- Suppliers invoices relating to the old year (these can be entered in SIMS. The cheques should not be produced until after preliminary closedown in the new year). This will reduce the number of creditors
- Debit entries on bank statements relating to dates before 1 April (direct debits, dishonoured cheques etc.)
- Credit entries on bank statements relating to dates before 1 April (BACS & Standing Orders)
- Reconcile cheques presented up to and including 31 March
- Accounts receivable for services provided prior to 1 April.