Prepaid expenses transfer to Expenses A/C


This query is : Resolved 

Quick Summary
This discussion explains how to move prepaid expenses into your expense account at the start of a new financial year. The process involves apportioning the prepaid amount on a monthly basis. At the end of each month, you should debit the relevant expense account and credit the prepaid expenses account to reflect the usage.

(Querist)
01 October 2023 How to transfer prepaid expenses to expenses in next FY.

RAJA P M (Expert)
01 October 2023 Transfer the required amount to Expense account which is already taken from the exact Expenses...

16 January 2024 The Prepaid Expenses need to be apportioned on a monthly basis and at the end of each month DEBIT the said expenses and CREDIT PREPAID EXPENSES.


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