If you have an invoice that covers multiple months, like a quarterly elevator service or an annual contract, this is what's referred to as a Prepaid Invoice.
In the Invoice Inbox, when entering the invoice, use the Chart of Account Prepaid Other, or a similar chart of account that typically starts with the word Prepaid.
Then, go into the Journal Entry page. You will want to enter a Repeating Journal Entry. To do this, select Add Journal Entry on the top right of the page.
Use the same vendor that the invoice was paid to. Toggle the Repeating option on the top right to On as shown below.
You'll need to know the months you want to allocate the expense to. In this example, this covers October 2022 - December 2022. The entry would be posted on 10/1/2022 and End Date would be 12/1/2022.
The Chart of Accounts is where you enter the Expense that should be reflected on the Operating Statement. The Credit will be the same Prepaid COA as in Step 1.
Divide the total amount by the number of months for the allocation.
In this example, the Total Amount was $2,400 / 3 Months = $800/month.
See below for the entry. This will automatically post the entries on the date selected:
