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Calculating the tax adjustments

Debtors

Identifying and quantifying debtors is an important adjustment for accounting income. Can this adjustment be carried out on a more regular basis during the year? What changes to your software would assist you with making this adjustment?

Comments

Jane Fitzgerald
None at present

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2 months ago
Alan Roberts
Its done monthly

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2 months ago
Alan Liddell
I do my accounts every 2 months so this is not an issue for me.

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2 months ago
Janise Nelson
We only have 1 debtor as such and we do try to deal with him as it is an on going thing.

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2 months ago
Christine Robinson
N/A

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2 months ago
Christopher Smith
It can be done in the current in house software

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2 months ago
John W
Work on an invoice basis like GST

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2 months ago
Kelly Walker
our software calculates this already. We keep the software up to date every other day, so not to onorous. A specific report that we could submit would be useful. Or perhaps IRD could specify what should be in the report.

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2 months ago
John Penney
If you arn't keeping tight control of your debtors, you won't be in business long enough to worry about this.

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2 months ago
Heather
Common in retail to not let people have accounts, so you dont have any debtors. That is so in my case.

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2 months ago
Paul Dunmore
I record invoices as issued, so I always know the debtors figure and the corresponding revenue. The only complexity is that some clients are billed in US$, so it would be a minor annoyance if I had to accrue the effect of exchange rate changes every month.

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2 months ago
Bernadette
Ours are done monthly

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1 month ago
Margaret Baker
Hi This can be an area of concern with some clients where debtors are not being closed out. This is often something I pick up end of year and I can't see me adding this to a monthly to do list as it would cause the work load to become prohibitive. Refer my comment on Extension of time being lost and moving workload to bi monthly period.

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1 month ago
stephanie
done monthly

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1 month ago
Nicola Wynne
Is done monthly already

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1 month ago
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