Hello there, @Stoatmonster.
I'm here to help record advance payment to your landlord and recur it for six months.
First off, let's create an asset account to track the prepaid expense in QuickBooks. Here's how:
- Sign in to your QuickBooks Online (QBO) account.
- Click the Gear icon, then select Chart of Accounts.
- Select New. Then, choose Asset and select Other Current Asset.
- Enter the account name (Prepaid Expenses) and other details.
- Click Save & Close.
Then, enter a vendor payment using the Prepaid Expenses account created.
Once done, you can now create a journal entry to allocate six months of the expense. Here's how:
- Click the Gear icon, then select Recurring transactions.
- Select New and choose Journal entry.
- Enter the template name and the recurring type.
- Then, set up the interval of the recurring.
- Fill in the necessary information, like the specific accounts and amounts.
- Click Save and close.
However, if you aren't sure what account to use when creating the journal entry, I recommend seeking help from your accountant.
I'm adding this article for more guidance: Create recurring transactions in QuickBooks Online.
Just in case your recurring journal entry won't run, you can check out this article to learn how to manage it: How to handle a recurring transaction that did not run.
Come back to this post if you have other concerns or follow-up questions about this. I'm always here to help.
