Dealing with prepayments / journal transfer (block management)

Owned by Fiona Wilson, created
Last updated: Jun 17, 2022
2 min read

This guide has been reviewed against our global client base and classed as relevant to all regions

This article covers how to post a prepayment into the next financial year

1. Access transfer screen

From the Charges/Budgets screen:

  • Click Transfer

    The Create Journal Transfer screen will be displayed

 

2. Enter prepayment details & post

Enter details for the prepayment

  • Select the Account

  • In Transfer amount enter the amount to prepay

  • In Debit date, ensure the year you wish to make the prepayment is entered

  • In Credit date, ensure the year you wish to credit is entered

  • Enter a Description for the prepayment

  • Click Post

 

3. Transactions journal entry

Accessing the Transactions screen for the estate will display the credit and debit just applied - entries are shown in date order

In the example shown right, the Debit is shown at the top of the screen and the Credit at the bottom (out of shot)



Prepayments are reflected in the Income & Expenditure and Balance Sheet reports

For further information on these reports, click here