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Prepayments

Posted: 17 Aug 2014, 20:20
by Jorla
Can you please explain the steps required to complete prepayments. I understand the concept but cannot get first payment to show in Trial Balance. Prepayment a/c shows and vehicle insurance with remaining amt. I need to show a payment for 6000 for vehicle insurance (over 12 mths) with first payment in first month of financial year. TIA

Re: Prepayments

Posted: 18 Aug 2014, 15:18
by brucedenney