Prepayments Schedule
Agree the prepayments schedule to the ledger and recalculate each prepayment from its own dates.
- Ledger + prepayments schedule
How the result is read
A prepayment is the part of an invoice paying for service still to come, so it follows from three figures the schedule already holds: the invoice, the first and the last day of service. Each line is recalculated day by day; one carried above what its dates support moves cost out of the year, one below moves it in. A prepayment whose service ended on or before the year end is no asset at all.
In the application
Prepayments Schedule is filed under Purchases & payables, index letter D. "Run all analyses" runs it with every other analysis the ledger and the documents loaded can answer. The worksheet states the population it tested on its face — or "Not applicable" with the reason when a column it depends on is empty — and the Excel workbook the engagement exports files it under D, beside an index of the source files with their SHA-256 fingerprints.
Read it with
Run your next audit file test without the Excel crash.
One free engagement to evaluate, valid 60 days. The ledger never leaves the machine.
- 20 minutes
- Runs on a fictional engagement
- No client data required