Annual contracts paid up front, balance sheet looks wrong
Prepaid costs (annual licence, insurance) should not hit a single month. Spread over the term via a balance-sheet account.
Try this first
- 1On payment, book to 'prepaid expenses' on the balance
- 2Set a recurring journal moving 1/12 to P&L each month
- 3On contract end, clear the remainder in the last month
- 4Annually reconcile that the balance account ends at zero
When to bring us in
For IFRS or stricter audits, apply matching more strictly per period.
See also
- Switching from Exact Online to Yuki, open items and history do not matchPackage migrations stumble on ledger mapping and open AR/AP. Without a mapping table you lose context.
- Twinfield to Exact, dimensions and cost centres go missingTwinfield uses dimensions, Exact uses cost centres and projects. The mapping is not one-to-one.
- Accountant asks for RGS mapping, your ledger does not follow RGSRGS is the Dutch standard chart that SBR filings and accountant software expect. Without mapping, every year-end is manual.
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