Year end entry
We received payment in July for a May due date, it is year end, what is the best way to do an entry to bring this into the fiscal year ending June 30?
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08/03/10 2:20pm PDT
Viewed by asker 08/31/10 2:16pm PDT
Viewed by asker 08/31/10 2:16pm PDT
3 Replies
raywhite28
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08/03/10 2:22pm PDT
You shouldn't. Since it was received in July, it should be posted with a July date.
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
08/04/10 2:21pm PDT
the person thought she had given us the check in May or June when it was supposed to be paid, we need to show it as paid before the year end closing.
Thanks for your help
08/04/10 3:00pm PDT
Latest post
I was received in July, it was deposited in July, it should be posted in July. Sound financial statements aren't based on hopes, dreams, or I thought it was paid.
Marc
