For the purpose of presentation, directors fee that are provided for but not paid yet is not to be treated as accrual item, it must be shown as a separate account as Provision for directors fee, usually due to the size of the value, which may be very huge in amount. As to how much is considered huge, is the discretion of the person preparing the accounts or auditing the accounts.
For clarity and transparency purposes, some accounts are reported as a separate line item in the financial statement.
Example, if a director's fee of $100,000 is taken up in the accrual accounts, auditor will pass a audit adjustments to reverse out from the accrual accounts and charge to the Provision for DIrectors' accounts in the audit adjustments
At [A/c Entry], click [GL Journal]
Click [Add]
Related Company
Assuming your related company debtors account is $344,134.00. You need to reclassify (reverse out from Trade Debtor Control) into the Trade Debtor - Related Company account.
Year end 31/12/2019 adjustment
First day of the new financial period to reverse back to Trade Debtors
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http://realtimme.cloudapp.net/basic/index.html?gl_reclassification.htm
