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Gherkin
17-05-2008, 04:00 PM
Just a quick one:

My gas and electric are paid by monthly direct debit. now we pay £17 pm for electric and have just had the bill £175 for 3.5 months. At the moment for my books I am working the elec out based on the direct debit amount rather than what the electric account is actually running at. Is this right? Or shoudl I wait for the bill each time and base my figures on what elec is being used and the full cost of it?

cloud9
17-05-2008, 04:09 PM
Just a quick one:

My gas and electric are paid by monthly direct debit. now we pay £17 pm for electric and have just had the bill £175 for 3.5 months. At the moment for my books I am working the elec out based on the direct debit amount rather than what the electric account is actually running at. Is this right? Or shoudl I wait for the bill each time and base my figures on what elec is being used and the full cost of it?


You need to base your accounts on the actual useage so each time i receive a quarterly bill i work out my amounts and use them until the next bill comes in and then i do it all again. You are then in effect putting it in your accounts in arrears.( e.g marchs bill covered dec-jan so i used march's bill amounts in my accounts until my july bill comes in)You cant base it on a direct debit amount because thats not what you are really paying its an estimate.

Remember you also have to keep your bills as proof to back up your accounts so if you for instance have been claiming a proportion of the £17 per month and your actual bill shows it was only £10 you are in effect fiddling your accounts or if it turns out to be £25 you wouldn't have been claiming enough.

Hope this helps and is understandable!!

sarah707
17-05-2008, 06:26 PM
I pay direct debit as well... and they reassured me I was paying enough...

But then last month I had a bill for over £200 arrears... watch out! :panic:

miffy
17-05-2008, 07:45 PM
I pay by direct debit too and the payments seem to go up and down like a yoyo!

They work it out and you pay too much so they put your monthly payments down then fuel prices rise and you end up in arrears so up go your monthly payments again.

Sorry moan over!

miffy xx