How do I enter Prepay expenses?

This article will demonstrate how to enter a prepay expense transaction in Traction.

Advanced Accounting is required for this feature.

1.  Click on Dashboard and select the Accounting.  Next, click on Account Register if you are not taken there directly. ACCTG

 

COA

 

2.  Select the proper account and click on the Add New button.  Next, select Add New Payment Acct Register 2

 

3.  Click on the arrow to the right of the word Other and select Prepay Expense.   PPay1

 

4.  Select the desired expense account, in this example I chose Fertilizer & Lime Expense.  Next, click on the Prepay box and then the green +New box to add a new Prepay account.  Create a name for the Prepay account and click on the Save button.

 

Ppay2

 Ppay3

 

5.  Fill in the remaining details for the transaction.  Once the amount is entered it will generate a New Balance.  When you are finished click on the Save & Close button.  The amount of the Prepay is added to the expense account balance in the Chart of Accounts Ppay5

 Ppay6