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Self assesment query. 'Yes its that most wonderful time of the year'

Posted by Simon Smith on January 14, 2015 at 3:37pm in Accountancy

I had a non paying customer for a job that was carried out and invoiced for in january 2014 ( So last tax year)

The customer had some difficulties at the time and i pretty much wrote it off after some fretting. To my surprise and relief they have now sent payment in full for the work. The payment was by cheque.

How do i go about accounting this? Should i treat it as earnings from the tax year when the work was done and invoiced (so 2013-14) 

Any guidance appreciated.

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Replies

  • Matt Glossop January 14, 2015 at 4:20pm

    Depends how you do your books. Maybe this will help?

    Cash Basis

  • Simon Smith January 14, 2015 at 7:53pm

    hi, I use a simple cash basis. I would prefer to lump it into the 2013-14 year really hence the query.

    Thanks

    • PRO
      Richard Gadsby > Simon Smith January 14, 2015 at 9:41pm
      Can you not just add from date of original invoice?
  • David Benson January 14, 2015 at 10:56pm

    just put it down when you get paid rather than invoice date otherwise if you have already submitted last years accounts you cannot now add to it plus if you have a I R & C search you could be in muddy waters proving things 

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