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March 8, 2020
Question

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

  • March 8, 2020
  • 0 replies
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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 ?