{m}.{s}.1 Again for the sake of clarity we have shown previously only one accrual. There will often be more than one expense to be accrued at the year end.

Year end 31 March 2009

Open/Close{m}.{s}.Q1
Open/Close{m}.{s}.Q2

 

Thus at 31/3/09 our accruals are:

Loan interest £200
Electricity £360
  £560
[{m}.{s}a]

These will be recorded by the journal entry:

2009 Mar 31 Dr Cr
  Accruals   560
  Loan interest 200  
  Electricity 360  
to record closing accruals    
[{m}.{s}b]

If you find it easier you can of course put through two entries:

2009 Mar 31 Dr Cr
  Loan interest 200  
  Accruals   200
To record loan interest accrual    
[{m}.{s}c]
2009 Mar 31 Dr Cr
  Electricity 360  
  Accrual   360
To record loan interest accrual    
[{m}.{s}d]