What is a listed creditor?

A Listed Creditor or Accrual is an estimated charge or liability placed in the old financial year to account for bills due but not paid in the old year, in order to reflect the true year end position. A corresponding credit is placed in the new financial year to offset the cost of the bill when it is paid. LA schools should list creditors at the year end for inclusion in the county's accounts. Academies are required to prepare accounts on an accruals basis anyway.