Erratic payments, retained consultancy

[Oldtramp]

A company retains me as a consultant at £1000 pcm. Their finances are eccentric. They miss the Feb and March 2024 payments, then pay for April, sending a note of apology saying that 'Missing payments will follow when they can manage'. On past form I think the odds of this are 50:50, though I anticipate that future payments will come in normally for several months.

Given that they are good people and don't really demand much of me I prefer not to press the issue with them. But, how should I book the £1000 recently received -- as missing payment for Feb 2024 (i.e. fiscal 23/24) or as actual for April 2024 (i.e. fiscal 24/25)? I work on an April to March tax year account.

[pawncob]

Do you issue invoices? If so, it's the invoice date which determines the accounting date.
I'd include the due payments as a debtor.

[bd6759]

Unless you are using the cash basis, then it is simply when it is received.