Accounting for pre-paid expenses
QuickBooks Canada : Pro 2012Advice please re accounting for pre-paid expenses.
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dLpU_Cmx0r4yUOacwZ5xHE
12/28/11 10:56am PST
Viewed by asker 12/28/11 12:39pm PST
Viewed by asker 12/28/11 12:39pm PST
5 Replies
IRMN
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12/28/11 11:01am PST
That is kind of an open ended question. What exactly are you trying to figure out?
If this answers your question please click, um, ok I forgot what you are supposed to click. If this answered your question, how about just saying thanks and we will call it good.
12/28/11 11:55am PST
Sorry - just want to know the accounting for a Dec 2011 payment made for a 2012 conference. i.e. is it in 2011 debit Prepaid expense credit cash; and in 2012 Debit training expense and credit Prepaid expense?
12/28/11 12:01pm PST
The solution
Yup. Your payment would go to the prepaid expense account and then in 2012 you would reverse the prepaid and record the training expense.
