TomB
New Member
Hello All,
I have a hopefully very quick question.
I'm currently using Microsoft Office accounting, but it's too heavy duty just now for me, so I'm moving to an simpler system.
I thought best time to do that would be end of my financial year which is April 5th.
One question I do have is that on the end of the financial year I will have invoice with outstanding amounts, they are on an agreed payment plan.
Now my accounting software has already counted the full invoice value in my profit and loss, so how can I keep my new accounting software correct in terms of payments received for bank recs etc without the income being counted twice.
Or would it be better to cancel the outstanding amount at end of financial year and log it as a new invoice in the new accounting software?
Thanks!
Tom
I have a hopefully very quick question.
I'm currently using Microsoft Office accounting, but it's too heavy duty just now for me, so I'm moving to an simpler system.
I thought best time to do that would be end of my financial year which is April 5th.
One question I do have is that on the end of the financial year I will have invoice with outstanding amounts, they are on an agreed payment plan.
Now my accounting software has already counted the full invoice value in my profit and loss, so how can I keep my new accounting software correct in terms of payments received for bank recs etc without the income being counted twice.
Or would it be better to cancel the outstanding amount at end of financial year and log it as a new invoice in the new accounting software?
Thanks!
Tom