Running amortisation
Once a month, run amortisation: Fiscal moves each running prepaid expense's share for the month from the prepaid account to expense, in one journal.
Open Prepaid Expenses›Run Amortisation, or click Run Amortisation in the register. It works like running depreciation, with its own runs.
Run it
- Choose the Month to post, usually the month that just ended, and add a Note if you like.
- Click Preview. Each prepaid expense is listed with its category, branch, period, number of months, the amount and what remains after.
- Check the total and post.
Fiscal posts every running prepaid expense in your branches up to the end of that month, including earlier months that weren't posted yet (the preview tells you). One journal is posted: Dr Expense / Cr Prepaid, one line pair per branch and account pair. A prepaid expense whose last month is posted becomes Fully Used.
See the journal
Each run in Posted runs has a Journal button that shows the journal it posted. The schedule on a prepaid expense has the same journal icon on each posted month.
Undo a run
Only the latest amortisation run can be undone: click Undo on it. Its journal is removed and its months become unposted again. Depreciation runs of fixed assets are separate and are not affected.
Run amortisation before you close the month and the books (see Closing the books).