The writer is very fast, professional and responded to the review request fast also. Thank you.
I receive an invoice on Dec 1st for my insurance premium covering the next year. As habit, I code my insurance bill to prepaid expense and pass it on to the payables clerk to into the accounting system. The clerk posts the entry to prepaid and accounts payable. As the accountant, I record the addition to prepaid expense so that I can amortize the appropriate amount of expense each month next year.
The company controller who is in charge of releasing payments holds off on remittance due to cash flow issues – and fails to pay the bill until February. Oops!
So… is the invoice date for a future period of coverage the most important part of what makes a bill a prepaid expense? Or is the actual remittance of funds that makes it prepaid? How should we address and correctly post this invoice?
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more