Recording utility bill credit/debit

[Bill Jacqmein]

Did the same thing for the first time setting up utilities they required a
deposit so adding a subaccount under an escrow subgroup in assets. It will
come in handy too for mortgage escrow payments.

On 3/3/06, Dale Alspach <alspach at math.okstate.edu> wrote:
>
> You can create a "prepaid expense" asset account. Debit that and
> credit an equity account. Then you can use up the prepaid expense as
> subsequent bills arrive (credit prepaid expense and debit utilities).
>
> Dale Alspach
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