Thank you for the advice. Yes, there can be a simple Journal Entry at the end of the year and post the pre-payments to a liability account. But in the end I thi...

Thank you for the insight!!Ok, forget normal accounting principles. This is the real world!! If my clients rent a golf cart for May but pay for the rental in Ma...

I have a golf cart rental business and I collect the rental fees in advance of the actual service date. If the client reserves a golf cart in March and pays the...