Prepaids and accruals
Every prepaid on schedule. Every accrual booked.
Agents roll each amortization schedule forward and book accruals that reverse on the first, all tied to the GL.
Halden Software’s prepaid insurance in September. A sample company, with illustrative figures.
A prepaid, from bill to tie-out.
Coded to prepaid at the bill
Annual policies and renewals go to prepaid with their service period, not to expense.
Amortized straight-line
Each month’s amortization is booked from the schedule, not worked out in a spreadsheet.
Tied to the GL
The schedule and the prepaid balance in the GL roll forward together, every month.
Checked twice
A second AI recomputes the entry from the policy before it posts.
A renewal expensed in full, back on schedule.
When a renewal is expensed in full, the agent catches it at the bill or in flux and drafts the reclass to prepaid, with its schedule.
See how flux analysis caught itAt month end
Accruals booked, schedules tied out.
No more missed accruals or forgotten reversals.
Booked from your history and open bills, set to reverse on the first. If the second AI disagrees, it waits for you.
Every schedule tied out before review starts.
Every prepaid schedule rolled forward and tied to the GL the night the month ends. Your team reviews instead of building.
Retire the prepaid spreadsheet.
Each schedule rolls forward with the policy attached and every line ticked to its source or the GL. Nothing hangs on a formula only one person understands.
Questions controllers and firms ask first.
How does Zenday build a prepaid amortization schedule in NetSuite?
When a policy, renewal or annual contract is billed, the agent codes it to prepaid and builds a straight-line schedule over its service period. Each month’s amortization posts to NetSuite, QuickBooks or Xero with the schedule tied to the GL.
What happens to a prepaid that was expensed in full?
It’s caught, at the bill or in flux. The agent drafts the reclass and the schedule that follows it, and anything over your approval limit waits for you.
How are accruals calculated?
From your history and open bills, such as a recurring service not yet invoiced or freight on open shipments. Each is set to reverse on the first of next month, and a second AI recomputes it before it posts.
Do we still need a prepaid spreadsheet?
No. Each schedule lives with its support and ties to the GL every month, with the workpaper ready for your reviewer and your auditors.