Software to track, manage, amortize, post monthly expense for ....
• Dues and
Amortize to income
• Span fiscal years
• Adjustment handling
• Post "as
of" any month
for 1 to 999
GAAP, FASB compliant
• No end
of year chores
data and reports
• Audit year reconciliation
• Defer a start month
• Paper or
Supports all versions of Windows® - XP, Win 7, Win 8, 8.1 .... Stand alone and network sharing. This screen view is Win 7, minimized.
| Client testimonials ....
We have been using your software for some time.
This system has always been so easy to utilize and we really appreciate the level of detail in the reports.
Thanks for your help today.
Your software is as advertised and will be most useful.
This is just a quick note to let you know that the software is up and running.
More importantly, we love the software!
Thank you so much for your help and we look forward to working with your company in the future.
I finally got a chance to look at the conversion file.
I did some spot checking and the numbers look fine.
Thank you so much for all your help.
Your customer service is fantastic!
Have a great week.
GAAP (Generally Accepted Accounting Principles)
Standard GAAP Amortization Methods at the prepaid expense record level ....
• Straight line 30 day financial months
The default method for most accounting applications
• Half month, mid month convention
If entered late in the month, amortize only half an amount the first month
• Date to date - Actual calendar days
Amortize a prepaid from an "in-service" date to the end of the "in-service" period
• Accelerated sum of the years digits (rule of 78's for any term)
Recognize more in the earlier months on a gradually decreasing monthly basis
Typically applied to fees associated with declining loan balances
Expense recognition, book value balance using factors other than time ....
• Inventory, supplies takedown usage
Establish a Total Units for a record when cost represents an Inventory or Supplies Count (such as 96 inkjet cartridges)
Inventory can refer to any kind of physical count.
Monthly Units are the count of items removed from inventory.
In the above example, if 5 inkjet cartridges are removed from inventory in a month, the system recognizes 5/96 of cost to expense.
Book Value represents the value of on-hand inventory.
If substantial inventory remains at the end of the term, you can extend the number of months remaining to extend Book Value recognition.
Or, if not extended, the system will recognize the outstanding Book Value to expense in the final month.
• Prepaid services, billings, retainers, professional fees ....
Total prepaid expense Units might cover Hours (such as 650 prepaid professional hours of service or other obligation)
Monthly Units are the number of hours utilized or consumed each month.
In the above example, if 35 hours were utilized in a given month, the system recognizes 35/650 of the prepaid cost.
Book Value represents the number of prepaid, yet non-utilized hours.
When the record is first entered to the system, "hours utilized" are likely to be unknown.
As "hours utilized" become known, enter the hours into the appropriate Monthly Units category.
• Percent, where Total Units = 100
Monthly Units are the percent of Cost to recognize in each month based upon experience or desired recognition.
Establish your own percentages for a single or multiple records.
Monthly expense represents the percent you assigned for that month.
If you want the system to recognize 19% in June, enter 19% for June.
Establish monthly percents at the outset of time or enter (or modify) each month as you go along.
• Dollar amounts, where Total Units might = Cost or other asset value
Monthly Units are specific dollar amounts to recognize each month.
Pinpoint the exact amount to amortize based on your recognition factors.
Quarterly and others such as for subscription services
Recognize Cost other than monthly, such as bi-monthly, quarterly and other frequencies.
• Other. User defined.
Recognize cost using virtually any type of numerical representation
Click image to view sample GAAP and
Alternative Recognition Method schedules ....
A complete accounting system to manage hundreds, thousands of prepaids ....
• Subsidiary ledger trial balance report
Amortization expense, accumulated and book value balance for each record sorted and grouped within
Expense accounts with summary totals within
Prepaid Asset accounts with summary totals plus
• Journal voucher posting recap
Debit and credit column format
• General ledger posting file
Posting entries consist of Expense account debits and Prepaid Asset account offset credits
Posting file is formatted for posting to your general ledger system
Post at account number summary subtotal level
Post each individual record
Supports any chart of accounts
• Full set of accounting reports
Detail and summary history, audit and reconciliation
By month. By calendar or fiscal year
• Monthly amortization and expense recognition for terms of 1 through 999 months
Half month convention
Actual in-service date to date
Defer amortization to a future begin date month
Catch up amortization from a prior month(s)
• Adjustments during term
Single step adjustment screen to handle changes during amortization term
Increase or decrease an original amount at any time
Increase or decrease term or set to immediate write-off
Extend a term
• Span multiple years
Cross over EOM, EOY periods without doing anything
No monthly or annual close-out involved
• Historical archive reporting
Generate any report from any prior month at any time
• Prepaid Asset account reconciliation
Compare balances and activity for one or more general ledger accounts over one or more months.
Pinpoint any out-of-balance conditions.
Beginning balances. New additions. Amortization. Adjustments. Ending balances. Net activity.
Audit schedule preparation.
Provide detail activity from beginning of through end of calendar or fiscal year.
• Audit and examination support
1-800 and email assistance
Many of our clients are CPA and accounting firms who purchased the software
Some import and calculate files for their clients
Post as direct expense and
Allocate one/some/all records to multiple expense accounts - branch, cost center, department ....
Use a single or multiple user-defined methods
• Multi-company operations
Same or different general ledger systems
• Your existing records ....
Maintain your current balances
No conversion journal adjustment necessary
Add existing records to the software using original cost along with book value balance.
Currently using Excel? Add your records to the software by importing them from an Excel worksheet
HOW our clients converted their existing records to the software:
• MOST entered their records to the software database.
• SOME imported their records to the software database from Excel.
• SOME always import all of their Excel records for reporting, amortization and general ledger processing.
• SOME converted existing records and continue to import new records each month from Excel worksheets created at branch sites.
• ALL were able to maintain current balances and were up and running in a short period of time.
Price and free demo ....
Click to open and view Price
• Stand alone and network sharing prices.
Modular pricing. Basic systems plus options you may or may not need.
• Free demo
Download from the Price page right now. No registration required.
• Free 60 day trial system customized to your operational needs.
If purchased, the trial system and your data can be preserved and rolled into a permanent system.
April 2014 Bonus !
Order Prepaid Expenses software in April and
we will include our
• Accrued Expenses amortization software
at NO charge
• General ledger
- The software creates a Journal Voucher debit and credit column source document for the above and
- Creates a general ledger transaction posting file
- Posting file descriptions can be at the
- Expense account subtotal level or
- Individual record level
- Supports any chart of accounts and any upload format
• Amortization methods at the record level ....
1) Straight line monthly
- 30 day financial months
- Most commonly used
- More is taken during early months
3) Actual calendar days
- Amortization is from a date to a date
- In-service, contractual term
- Full months
- Partial months
- Half month convention (first month only or first month and final month)
4) Alternate methods
- Recognition based upon multiple factors
• Exception handling
- Delay amortizing to a future month
- Catch up amortization for a prior month(s)
- Partial refunds during amortization term
- Additional payments during amortization term
• Reconcile your prepaid asset accounts. In seconds!
• Run the Reconciliation Report covering any month or multiple months
Beginning balance for a record (the previous month ending balance)
+ New record cost if the record was added during the period (Beginning balance would be zero)
- Amortization expense
- Partial refund if an adjustment was made, such as having been overbilled
+ Additional cost, partial payment increase
= Ending balance
Column totals for all records within each prepaid asset account
• Out of balance?
Simply compare the Reconciliation Report to your general ledger asset account activity.
• Reconcile a month
• Reconcile an entire year - great when auditors want to see annual changes to your prepaid asset accounts
• Budget projections, forecasting
- Calculate expense amortization, with ending balances, for a future month, quarter, year.
- Direct post monthly amortized expense for a record to a single expense account or distribute to multiple expense accounts
- Allocate one/some/all records using user defined methods
- Allocate using multiple methods (percentage, square feet, number of branches, workstation count ....)
- Allocated records flow into the journal voucher and posting file for automatically updating the general ledger
• Administrative reporting
- User defined sorting and subtotal categories.
• Export data and calculations
- Copy screens and reports, paste to Excel worksheet
book values for
month, end of
next year ....)
range of months
(month by month
expense and book
values for any
period - three
(now or "as of"
now but five
years down the
worksheet or other spreadsheet)
• Enter records,
• View, print,
• Direct post
ledger accounts. Allocate
selected records to
• Upload posting
file for any
builds a posting
any file layout. Undo
to a prior