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Re: Prepaid Expenses

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January 02, 2018 01:55PM
Neither. If you are using a newer version of our software we have added buttons into the Record Payment/Purchase for Prepaid. So when writing the check for the prepay,select correct Vendor Name, date and memo description, use the button called Prepaid Accounts from the items purchased. From the Account drop down list, select the Seed Expense account. This will automatically create the prepaid account name. Enter the dollar amount and click OK. Then write the check from the How you paid section and OK. Record and Done.

If using the date in 2017 year, this will post to expenses for 2017. Then when recording the seed supplies in 2018, use the same Record Payment/Purchase - same Vendor name, enter date and memo. Use the Inventory purchase button, select or create new supply names. Enter qty and dollar amount. Click OK. Once all the supplies have been purchased, go to the how you paid section, click the Prepay button. Select from the drop down list the Vendor name -Seed Expense prepay account. Enter dollar amount needed to cover the supply purchases but no more that what was placed into prepay from original payment to Vendor. When you review the Cash Income statement or Cash Trial Balance, you will see the seed supply purchase recording as a debit then a credit into same expense account, leaving the cash books untouch for 2018.

Thanks,

Kathy Cline,
Trimble Ag Software Support
For fast replies email: TABS_Support@trimble.com
SubjectAuthorPosted

Prepaid Expenses

FryeCPAMay 05, 2014 07:55AM

Re: Prepaid Expenses

Kathy ClineMay 05, 2014 09:09AM

Re: Prepaid Expenses

SteveinSDDecember 31, 2017 11:04PM

Re: Prepaid Expenses

SteveinSDJanuary 02, 2018 09:22AM

Re: Prepaid Expenses

Kathy ClineJanuary 02, 2018 01:55PM

Re: Prepaid Expenses

SteveinSDJanuary 04, 2018 07:00PM

Re: Prepaid Expenses

Kathy ClineJanuary 09, 2018 10:15AM



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