December 31, 2017 11:04PM
I set up a prepaid in 2017 as "other current assets". The account is "2018 Channel Prepaid" with an ofsetting entry as "seed expense". This works fine for both my accrual trial balance- "2018 Channel Prepaid" and for my cash trial balance-"seed expense". I wanted to use the prepaid as an expense in my 2017 taxes.
The problem is in 2018 as I use/reduce the prepaid it then adds to my "seed expense" which has already been used.
What am I missing?
SubjectAuthorPosted

Prepaid Expenses

FryeCPAMay 05, 2014 07:55AM

Re: Prepaid Expenses

KathyClineMay 05, 2014 09:09AM

Re: Prepaid Expenses

SteveinSDDecember 31, 2017 11:04PM

Re: Prepaid Expenses

SteveinSDJanuary 02, 2018 09:22AM

Re: Prepaid Expenses

KathyClineJanuary 02, 2018 01:55PM

Re: Prepaid Expenses

SteveinSDJanuary 04, 2018 07:00PM

Re: Prepaid Expenses

KathyClineJanuary 09, 2018 10:15AM



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