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Yes VidhyaDhar, we collect one year in advance from customer, but we want to recognize per monthly basis a Rental income and close Prepaid Rental income.
Regards,
Nely
| | | ---------------Original Message---------------
From: Vidhya Dhar
Sent: Wednesday, October 19, 2011 8:19 PM
Subject: Prepaid Expenses Amortized Per Month
Hi
Nikki is right in presenting a summary of the scenario since the original
post does not clearly state the scheme of accounting entries.
However, would not the (*) prepaid rental income invoices involve a
customer and not a vendor? In general, we collect rent income from
customers, right ? Or am I getting it wrong?
Regards
VidhyaDhar |
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