Thank you really helpful
The year end for the accounts is 31 December. If leaseholders pay the Service Charge demand for Dec - March (due on 25 December) in January which is likely, will the arrears for this payment be recorded in the "service Charges due from tenants" or other debtors and will that income be accounted for in the next years accounts?
If the last quarter service charges were not paid until January by all the leaseholders the worse case scenario for "service charges due from tenants" in any event would only be £2,831.24 so the £11,002 recorded still raises some questions but it would be useful to know what the position is for the accounting.
The year end for the accounts is 31 December. If leaseholders pay the Service Charge demand for Dec - March (due on 25 December) in January which is likely, will the arrears for this payment be recorded in the "service Charges due from tenants" or other debtors and will that income be accounted for in the next years accounts?
If the last quarter service charges were not paid until January by all the leaseholders the worse case scenario for "service charges due from tenants" in any event would only be £2,831.24 so the £11,002 recorded still raises some questions but it would be useful to know what the position is for the accounting.
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