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How to Expense Prepaid Expenses in QuickBooks
Published 09/01/2010 | 
Good morning! Hope you are healthy and happy! When expensing prepaid expenses, is it best to do a journal entry or just change the expense account? How do I create a good trail?
Journal entries will give you the best trail because it leaves the original prepaid transaction intact. If you need to prepare several entries for the same amount, like monthly prepaid insurance, you can memorize it by going to Edit > Memorize General Journal and even have it entered automatically. Just make sure to set an ending date so it doesn’t continue after the prepaid is exhausted.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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