Reporting - Run Prepayments Monthly
Is there a option to run prepayments like depreciation on fixed assets like Sage does?
Tracey Northcott
shared this idea
Hi Tracey, not so familiar with how the reporting works in other accounting software, however there are a few reports you can run to view prepayments in Xero. If you find one of these quite useful, you could save the report as Custom so you can easily access it anytime.
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Alexa Rossi
commented
I think Xero is too hung up about prepayments on the bank side only and doesn't think about prepayments as a standalone item on the balance sheet. We need to think about prepayments that are simply an invoice received and paid which relates to X number of months that we want to release to the P&L over a period of time. It is crazy that this isn't an option for Xero yet.
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Tracey Northcott
commented
Sage lets you run monthly prepayments - is Xero got this option. Instead of using excel and manual journals?