Spread prepaid costs, deferred revenue and accruals

Steps

1. 1

   Step 1: Open Accounting in the sidebar and pick the Schedules tab.

2. 2

   Step 2: Pick Prepaid, Accruals or Revenue, then press New schedule.

3. 3

   Step 3: Fill in Type, Description, Total (or Amount to accrue), First month, Months and the expense or revenue account.

4. 4

   Step 4: Press Create schedule.

5. 5

   Step 5: Or accept a suggestion: when Accountable spots an annual payment, it offers Create schedule, Accrue or Not a schedule.

What a schedule posts

• The payment moves to Prepaid (or Deferred revenue), then each month's share posts at month-end.
• Accruals post on the last day of the month and reverse on the 1st.
• If the first month is already closed, the past months post as one catch-up entry.
• Prepaid, accrual and revenue schedules change accrual books only; cash books stay as the money moved.

Good to know

• Press End early or Skip a month in the schedule's panel if plans change.

Related articles

• Depreciate laptops, furniture and other equipment
• Switch between cash and accrual
• Close a month