Accruals

The cost belongs to the month it happened in

A utility bill, a professional fee, or a WPS salary run often relates to work already done before the invoice or the bank transfer actually clears. Booking it as an accrual in the month the work happened, rather than the month the paperwork arrives, is what keeps each period's numbers honest about that period's real activity.

What gets reviewed every close

A recurring list of expected accruals gets checked and updated every month, covering the usual items, utilities, professional fees and WPS payroll, alongside any revenue earned but not yet invoiced. Once the real invoice or payment lands, the prior accrual reverses automatically rather than sitting on the books as a duplicate.

WPS payroll crossing month end

Where a pay period straddles the end of a month, the labour cost for the days already worked gets accrued so it lands in the correct period, rather than the whole month's cost landing wherever the Wage Protection System transfer happens to clear.

Not a separate process

Accruals get reviewed as one part of the same monthly close that covers reconciliations, prepayments and fixed asset entries, not run as a disconnected extra step that someone remembers to do occasionally.

What is new each month gets flagged

Any accrual that is new, unusually large, or different in character from the recurring list gets a short note explaining what it is, so nothing unusual slips through as if it were routine.

Checked before the month closes

Reviewed and updated every month inside whichever accounting file the business already runs, with a senior reviewer checking the list before the period is marked final.