PrePay Fuel and Credit Card Accounts prior to year end in Sage 100 Contractor.

Question

My company wants to prepay a few accounts prior to year end 2023. What is the correct process/procedures for entering the prepayments into Sage and then what is the correct process for applying these prepayments?

Char DeLange · Answer

If you are using the credit card module for these, just post the payment in 4-7-6. They will show up as payments when you reconcile the statement. It credits cash and debits the liability account. If CPA does not want to see negative liability account balances, post a JE from the liability to prepaid expense. Then reverse them in 2024

Sage Construction & Real Estate

PrePay Fuel and Credit Card Accounts prior to year end in Sage 100 Contractor.

COMMUNITY

COMPANY

PARTNERS

SUPPORT & TRAINING