Annual purchase paid off monthly
How do I enter an annual insurance premium correctly for a cash system and pay it monthly and be reflected correctly in the P&L?
Forum Discussion
I use CASH reporting, not accural.
Hi nemrac,
For this one, it’d be best to check with your accountant first, just to make sure it’s being treated correctly for your setup. If you’re using cash accounting though, you can record it to a bill each month as the payment is made, so it’s reflected monthly in your records.
Regards,
Sai
