What is it?
Amortize prepaid expenses over time with the Prepaid Expense template. Manage items such as equipment, supplies, rent, or insurance pre-payments.
Creating a Prepaid Expense Template
Under a Workbook
Click the "+" button to open the Create dropdown
Select Prepaid Expense Template
How are Prepaid Expense projections calculated?
Line Item prepaid expense values take the Contract Value divided by the Number of Months the prepaid expense will go for. The first month will be based on the Start Date value.
Output Prepaid Expense Template Metrics
Total Pre-Paid Expense
The total contract value of all prepaid expenses with the same Start Date month.
Total Pre-Paid Expense Monthly Recognition
The total monthly value of all prepaid expenses.
Prepaid Expense Template Dimensions
Name
The name of the expense. Not used for calculations. Usually the name of a vendor.
Type
The type of expense. Not used for calculations. Usually will be software, hardware, office space, etc.
Contract Value
The total cost of the expense that has been paid. Used for all calculations.
Start Date
The first month in which the prepaid expense will get amortized. Used for the monthly values.
Months
How long the expense will be amortized. Used to calculate the monthly values.
Integrations Available
This template does not support integrations.
Enhancing Your Prepaid Expense Template with Add-ons
Custom Dimensions
Department
Used to split expenses by department.
Limitations
This template does not currently connect to a Vendor list from ERP integrations. This is a planned addition in the future.