Old Expense/Receipt Found that Wasn't Accounted For

[antropy]

I've just found the receipt for an expense from last year that I didn't include in last year's accounts.

What would be the best thing to do - include it in this year's accounts with a note saying it's from last year? Or do I lose the right to claim it back?

 

[elaine@cheapaccounting]

included in this years with a note as you said - that's fine

 

[MyAccountantOnline]

I've just found the receipt for an expense from last year that I didn't include in last year's accounts.

Is it a large amount - if so I'd amend the accounts/tax return if not I'd add it to this years figures as Elaine has suggested.

 

[Jenni384]

Agree with Nicola and Elaine, if it's a small amount, it's not worth changing the prior return, so just include it this year. If it's for a material amount, you may need to change the prior return.

 

[Truemanbrown]

Depends what the scale of the expenses was. If the amount was material maybe you should consider doing a prior year adjustment to alter the previous year's accounts.

 

[antropy]

Thanks for the answers everyone, the amount is only £100 - big enough to be worth including but not big enough for me to want to adjust last year's accounts! Cheers!