Prepayments

The Prepayments function is used to adjust accounts for payments or invoices that paid in advance, for example rent or insurance premiums. This function allocates the prepayment over a specified number of months. The expense spreads over several periods rather than being posted in just one month.

Transactions will be transfers automatically to the relevant general ledger account when you run Month-End update process with Post-Prepayments option.

General Ledger Inventory Control Purchase Orders Order Entry Accounts Receivable Accounts Payable Banking Fixed Asset Manufacturing