Save your time and money with downloading premium quality prepaid account reconciliation template. Do you have an idea about prepaid expense? Prepaid cost is a sum paid for a decent or administration ahead of time of accepting it.
This is the accounting practice and it is helpful in keeping accounts update! When gathering the information about bookkeeping, different principles are used according to the accounting and company rules. Check Bank salary sheet in excel for employee and others.
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Example Prepaid Reconciliation
In this example, you may see company (ABC) with invoice number ABC101 with amount $50.000.00 due payment date 7/5/2010. When to Expense for example 1/12 per month with an amount to be expensed to date $24000.00.
Template Name:- Bank Reconciliation
File Size & Format:- XLSX 34KB
For more detail about example see image below
A general rule of accounting is to record the income when it is received while the expense is recorded once it is forecaster in the nearby future.
So to account purposes, prepaid costs are an advantage for the organization. Recording these costs can be confusing, but with our ready to go template, you can now use it saving your time!
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- Prepaid Expenses Calculation Sheet
- General Ledger Account Reconciliation
Format of Prepaid Account Reconciliation Template
Have a look at the layout of this excel template before making it part of your accounting department. Here are the components of it:
Table 1- For Prepaid Reconciliation
As a general rule, the purpose of the template is to make tracking easy for the prepaid expenses.
- This table consists of components, item, starting balance, duration (periods), first period and period cost.
- Fill them for the expenses are advance. Look out the headings in the table for the advance expenses like car insurance, property tax & subscription.
Table 2- For Prepaid Reconciliation
- Fill the month, period and amortization cost per period on the top of template.
- All of the months in the year, total amortized cost and ending balance is recorded in column A.
- To check the total amortized cost, see the cells, C26, D26 and so on!
- This is calculated automatically.
- For total ending balance, which is calculated automatically, check the cells, D27, E27 and beyond.
Use this template to keep your accounts in the updated form!
Prepaid Insurance Excel Worksheet
In insurance companies where monthly transaction reconciliation is a little bit difficult if any client payment down due to any type of error either in-network relates or any other third party issue.
This error must be address through this statement and keep record for further inquiry.
Prepaid Expenses Calculation Sheet
All prepaid expenses calculation relates to monthly expenses is record in this template. All type of prepaid transaction error from user or back-end is process according to demand.
Detail on Prepaid Account Reconciliation Template, if want custom design then contact Accounting124.com