Prepaid expenses are future expenses that are paid in advance and hence recognized initially as an asset. As the benefits of the expenses are recognized, the related asset account is decreased and expensed. The most common types of prepaid expenses are prepaid rent and prepaid insurance.
This template will help you track and amortize prepaid expenses. The prepaid expenses template is flexible and should be easy to change as needed. The template as it’s entirely driven by formulas. If you can copy formulas, you can easily modify this file as needed to suit your needs.
This worksheet will help you expedite your month end close and it's a great support for quarterly or year end audits.