nick58
Level 1

How do I record entries in a prepaid expense account ?. This is a toll account which we get weekly invoices for.

We prepay into the account to allow for our vehicles to pass toll plazas with their e-tags. Once a week we get an invoice for that weeks transactions which then comes off the prepaid amount. How Do I do these transactions in the prepaid expense account so that the account matches up to the actual bill received ?