Payment made now for the months ahead - how to split it?

[Phil Longstaff]

Normally this is done by having an Asset account called Prepaid Expenses.  In your case, it could be Prepaid Rent.  Then, when you write a check, 1/3 goes to Expenses:Rent and 2/3 to Assets:Prepaid Rent.  At the beginning of the next 2 months, transfer the rent amount from Prepaid Rent to Rent.

Phil


________________________________
 From: llny <lucas.london at gmail.com>
To: gnucash-user at gnucash.org 
Sent: Sunday, February 12, 2012 2:45:39 AM
Subject: Payment made now for the months ahead - how to split it?
 
Hello all,

Just getting started with GnuCash here and am a complete novice with
accounting terms, so pardon my elementary question. I pay my rent once every
three months, but I'd like the payment to be split into three, such that my
housing account shows a consistent rent payment each month and thus my
monthly profit/loss doesn't spike every three months.

How do I enter such a payment?

Thanks,
Lucas

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