What is it...?

When entering purchase invoices I choose "stock" which is under expense group. I notice when looking at accounts that these are also entered in Accruals, just not sure what that is ?

Hi Adrian,

Accruals are usually costs you have incurred but haven't paid for yet. The default set of accounts doesn't include an accruals account so I suspect your bookkeeper has added this account. I recommend you ask him/her what the purpose of the account is in your case.

Regards,

Hmm....Someone did set up the file for us but we have stated a new business file.

We do not have any need for accruals as we pay for everything (stock) there and then. So how do I get rid of this "account" and will it have any effect on anything else we have done?

Cheers

Adrian

Hi Adrian,

Please close Solar Accounts then email me your data file - this will give me a better understanding of your accounts.

Cheers,