Creating Prepaid Expenses Schedule Definitions

Prepaid expense schedule definitions provide a template that you can use to create prepaid expenses.

A default prepaid schedule definition, named Monthly and with a Journal Interval in Months value of 1, is created when you enable the Prepaid Expenses feature in the Feature Console. You can create additional prepaid expense schedules definitions if required.

Tip:

Prepaid schedule definitions must be unique. You cannot create a schedule definition that has the same name, journal interval and Days Pro Rata setting an existing schedule definition.

To create a prepaid expense schedule definition:

  1. Click the Prepaid Expense Schedule Definition tab.
  2. Click New. The Prepaid Expense Schedule Definition dialog displays.
  3. Enter the name.
  4. Enter the journal interval in months.
  5. [Optional] Select Days Pro Rata to create a pro-rated journals for the initial and final prepaid expense periods.
  6. Click Save. You can also click Save & New to save the current record and then immediately create another.