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Prepaid Expense Amortization

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Summary: Prepaid expenses are costs that are paid in total "upfront" but cover a specific time period and should be tracked on a prepaid expense amortization schedule. A good example would be insurance premiums which are often paid for an entire year or 6 months in advance. Many business just expense the entire premium when paid, but GAAP and accrual accounting methods dictate that you should recognize say 1/12th of an annual premium each month over the life of the policy. This prepaid expense amortization spreadsheet tool allows you to track an unlimited number of prepaid expenses and then make one aggregated monthly journal entry to recognize the appropriate expenses and reduce the prepaid asset by the same amount. This prepaid expense amortization spreadsheet is complete with examples you merely need to enter your own information. You can simply add rows and the formulas will auto-populate the appropriate cells.

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Save approximately 3 to 4 hours by downloading and using this prepaid expense amortization schedule from DigitalWorkTools.com

Related Products and Documents:

Accrued and Prepaid Expense Detail   (see more details>>)

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