Good morning all,

Just need some guidance on how to account for payments and a refund, made and received in the 1st month of the next financial year (2022) but was for the last month of the previous financial year (2021).
There is no Vat involve as it is for a NGO.

My understanding is that there must be proof that the transaction was meant for the previous financial year and then a journal needs to be done, but not sure if this is acceptable and how the journal must be set up. And if this is an acceptable action.

Thank you!