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theholiday2
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Is there a way for Quickbooks Online to automatically amortize prepaid expenses?

 
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QuickBooks Team
QuickBooks Team

Is there a way for Quickbooks Online to automatically amortize prepaid expenses?

Thanks for checking in with us, theholiday2.

 

The option to automatically add the amortize prepaid expenses is unavailable in QuickBooks Online (QBO). You'll want to create an expense with the date you'd want the payment to reflect. Then, enter a description that the prepaid is for a specific month or period. 

 

You can also consult your accountant if you'd want to have a prepaid asset account. 

 

To learn more about setting up an amortization schedule, please refer to Does QuickBooks Online have an amortization schedule? article. 

 

I've got a link here that provides you with articles about managing expenses and vendors: Enter expenses, pay bills, and write checks

 

Fill me in if you need a hand with running vendor reports or any QBO related. I'll be here to ensure your success. Take care always.

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