When you assign the account number to the Prepayment Account in Moss, we will automatically assign your deferred costs to this account at export. We recognise that a transaction is a prepaid expense if the expense start and end dates are different to the invoice date.
You can export the prepaid expenses transactions in the transactions export flow by selecting the “Prepaid Expenses CSV”.
With each export, we will create two CSV files, one for the card transactions (including the transactions that were marked as prepaid expenses) and a second one with all future releases for the prepaid expenses.
An overview of the releases can be found in the Prepaid Expenses Module under the Accounting tab.
In the Prepaid Expenses module, you can see all releases on one page.
The summary on the top of the page has the following information:
Prepayments balance increase - the sum of all entries debited to the Prepayment Account during the month. The actual transactions and invoices can be found on the Card Transactions page (filtered for prepaid expenses).
# Prepayment to be released/released - the sum of all entries credited to the Prepayment Account (recognised as expenses) during the month. The list of those entries is in the table below.
Net balance change - Prepayments balance increase minus the prepayment releases will give you the net change for the month. If you have a separate account for Moss prepayments, add the net change to the opening balance to get the closing balance of the Moss Prepayment Account.
Completion Status
The Journal Entries have the following logic:
Initial transaction/invoice is recorded with two entries* (first CSV)
Purchase entry:
Dr. Prepayment Account
Cr. Moss Default Supplier / Supplier account
Payment entry (card transactions only):
Dr. Moss Default Supplier / Supplier account
Cr. Moss Balance account
Each release is recorded with one entry in the expense period (second CSV)
Dr. Expense Account
Cr. Prepayment Account
*Excluding VAT for simplicity, all deferred costs are net of VAT.