Deposits, Prepayments & Accruals

01 Whose books are these

02 The headings you post to

Seeded from the LTT standard chart of accounts. The type decides which side of the balance sheet the closing figure lands on and how the tool works out the balance.

03 The items

Prepayments and income in advance are cut at the year end by the period they cover. Leave the paid date blank and the tool assumes you paid at the start of the cover.

Deposits are not apportioned — they sit there until they come back. Untick “back within 12 months” and the deposit is shown as a non-current asset, which is where a three-year tenancy deposit belongs.

Accruals are charged over the period they relate to and stay on the balance sheet until they are settled. Put the settlement date in when the invoice is finally paid and the accrual clears in that year.

04 What to print

05 Saved schedules

Everything stays in this browser — nothing is uploaded, and we never see your figures. Clearing your browser data will delete saved schedules, so keep the printed PDF as your record.

Apportioning by days is the more accurate basis and is what this tool does by default. Whole months is quicker and is what most SME sets of accounts use — pick one and stay with it, because switching between years moves profit around for no reason.