How To Create A Prepaid Expense Schedule Excel Template

Client testimonials ....

This is just a quick note to let you know that the software is up and running.
More importantly, we love the software!
Thank you so much for your help and we look forward to working with your company in the future.
Hollywood, FL

Thanks for your help today. We imported all of our records and current balances without a problem.
Your software is as advertised and will be most useful.
Houston, TX

We have been using your software for some time.
This system has always been so easy to utilize and we really appreciate the level of detail in the reports.
Albemarle, NC

Thank you so much for your help.
It's so refreshing to talk to someone who understands!
Oakland, CA

We just installed your software last month.
The software has already saved me hours for forecasting models.
Paducah, KY

Thanks.
Your customer service is fantastic!
Have a great week.
Redmond, WA

Why others chose our software ....

• Customizing
The needs of most clients can be met with capabilities and features already found within the software but
some had us write special programming, reports or export routines to meet their unique requirements

• Expense allocation
Selectively distribute monthly amortized expense for a single record to multiple branch or cost center accounts

• Reconciliation report
Determine all changes to general ledger accounts for a month. For entire audit year.

• Single step adjustment screen
Increase book value, decrease book value, change remaining term with a single entry

• Defer amortization to an "in service" date
Delay recognizing an expense until a future month (also, catch up for prior months if the record wasn't set up on time)

• Export
Copy all reports to Excel. Copy all records or filtered (selected) records to Excel.

• Modular pricing
Get a basic system. Add only the optional features you need.

Importing records from Excel

The software comes with complete record handling capabilities:
Add, edit, delete records.
List, sort, export and more.
Nothing else is required to manage your data records.

Additionally, the software can import data from Excel and other spreadsheet files.
Importing allows you to add records from another source to the software.
Import dozens, hundreds, even thousands of records.
Import once as a conversion and/or
Import on an ongoing basis.
Always import your entire worksheet or
Add new records from a file that was created at another source.
The software verifies data values are of a correct format and lists any conflicts or errors.
And automatically calculates a maturity/review/tickler file reporting date.
Current accumulated and book value for existing records can be preserved or calculated by the system.

Importing a file is easy:
1) Copy an entire worksheet or highlight and select desired rows.
2) Click the Paste icon on the software's Import screen.
That's all it takes!
An Import Table maintains worksheet Column Letter cell values.
Example: "Description" might be your worksheet column "A" or "C" or ....
An option switch allows you to replace all existing records or add (append) new records.
The "Copy from" source can be an Excel worksheet, other spreadsheet program or any tab-delimited file.

Full set of accounting and managerial reports:
- Trial Balance
Subtotals and report totals for count and amount
- Journal Voucher
Undo. Reverse a previously created debit/credit upload posting file
- New records report
For the prior month, year to date or other time period
- Maturity/Review date report (tickler file)
Which records will finish their term this month, next month or other time period
- Type report by user defined codes
- Vendor report by user defined codes
- Record link report (aggregate records by a common purpose)
- Alpha list of records in Description order
- Description files to provide meaningful information at report subtotal levels:
• General ledger chart of account names
• Type codes
• Vendor codes
• Record link codes
• Enter descriptions into the software or copy/paste from another source.
- Apply filters, date selections and set calculation month, range of months and year end periods
- Export reports
Copy and paste any report to a spreadsheet
Copy column headings, records, calculated values and subtotals

User defined reports:
- MySubtotals report
Filter and group by selected fields on the fly
- MyReports
Create and retain your own commonly used reports
- Records only
Create a file amortized for any period consisting of all or filtered records
- View, print, export reports to Excel

Calculate amortized results:
As of any month or year end period
For a range of future months
For a historical month, range of months, entire fiscal year
Include:
All records
Selected records
Select records using filters available for all fields and values
Sort and create subtotals on desired field values
Examples:
Report all records that will have a zero book value as of December 31st.
Report all new records for the previous quarter with cost > $1,000.00.
Report all records in three expense accounts, send report to Excel.
Supports any chart of accounts.
Post as:
Direct expense and
Allocation:
Monthly amortized expense for a record can be distributed to multiple expense accounts.
• Allocate using different methods:
You define each method
Percentage, square feet, number of employees, workstation count ....
• Allocated amounts flow into the journal voucher and posting file for automatically updating the general ledger

Format monthly postings as a:
Disk file and
Excel export. Standard worksheet format with ability to meet special column layout requirements at no extra charge
("break up" general ledger account into multiple columns, single or dual debit/credit columns, header row, other needs)

General ledger posting ....
The software can format transactions for posting to any general ledger system.
Output to disk file, Excel worksheet, other.
Columns and data layout in any order (including blank, filler and generated values)
Transaction codes
Prior month backdating (ex: post in May with effective date of April)
Header, trailer and totals records
Multiple debit, credit columns or a single column with credits identified by "-" or "( )"
Undo (reversal)
Generate debit and credit transactions as:
Summary totals for each general ledger account or
Individual transactions for each record
Monthly amortization can be:
A direct posting to an expense account or
Allocated (distributed) to multiple general ledger cost center accounts
General ledger account numbers can be:
Uploaded as entered or
Split into multiple posting file columns in any order (account number, company code, cost center, department, region, sub coding ....)

Do you ever have to ....
Increase or decrease the amount being amortized?
The Adjustment Screen automatically handles additional payments and refunds.

Add a record that should have been added last month?
Prior month expense for a record can be included with the current month.

Add a record that shouldn't begin amortizing right away? Defer amortizing to a future date?
An alternate begin date defers amortizing to a future "in service" month.

Change a term? Write off immediately?
The Adjustment screen automatically handles these, too.

Allocate expense to several branches or departments?
The Allocation module distributes expense using one or more methods.

Are you ever out of balance?
The History Audit Report shows monthly changes to each general ledger account.

History - Automatic data and report archiving

Automatically created History archive files.
• No more searching for old reports.
• Recall any report for any month.
• View and print.
• Export - copy an entire report to a worksheet.
• History allows you to go paperless.

All text changes plus monetary adjustments are maintained in activity logs.
History tracks any changes made in Excel import files, too!

Lifetime amortization schedules - past and projected - along with critical memo Notes.

Recall prior monthly general ledger expense and offset account postings.

History allows for reports to span multiple months.
Copy 12 month fiscal year recap to a worksheet, email to your auditor.

Account reconciliation report - monthly, annual

Reconcile your prepaid asset accounts. In seconds!
Reconciliation Report columns:
Beginning balance for each record (the previous month ending balance)
+ New record amount if the record was added during the period (Beginning balance would be zero)
- Amortized expense
- Partial refund if an adjustment was made, funds returned
+ Additional receipts, partial increase
= Ending balance
Column totals for all records within each prepaid asset account
Out of balance?
Simply compare the Reconciliation Report to your general ledger asset account activity.
Run the report for a single general ledger account or all accounts.
Reconcile a single month or range of months.
Reconcile an entire year - great when auditors want to see annual changes to your prepaid asset accounts.

How our clients handled their existing records

• Some entered their records directly to the software, doing a "clean up" as they went along.

• Some imported and converted their records to the software from an Excel worksheet or other spreadsheet.

• Some imported and converted existing records. And, they continue to import new records each month
from Excel worksheets created at branch sites.

• Some never converted.
They began entering new records to the software and allowed existing records to finish amortizing the "old" way.

• Others never converted.
They always import all of their existing plus newly added records to the software each month from Excel.

Supports all of these amortization recognition methods at the record level

• Straight line monthly, 30 day financial months (typical recognition method)

• Straight line monthly, actual days in month with start and end dates

• Half month convention

• Partial first month and or last month

• Time: Hours, days ....
Recognize professional and other prepaid fees and retainers by actual hours or other time
periods (including zero) performed each month

• Dollars
Assign the specific dollar amount (including zero) to be recognized each month in advance or as it becomes known

• Percent
Assign the percentage to be recognized each month (including zero) in advance or as it becomes known

• Count
Inventory, office supplies - recognition is based upon monthly usage so book value represents actual value of items on hand
If inventory count remains at the end of anticipated term, simply extend the term

• Products
Recognize expense based upon the receipt of a prepaid product delivered over a staggered interval

• Services
Recognize expense based upon the delivery of a prepaid service delivered over a staggered interval

• On demand
Enter the amount you want to recognize this month based on external factors

• Frequency, non-monthly
Recognize expense in certain months only, such as quarterly or any other calendar or fractional period

• Units, other
Establish your own definition of units to determine monthly and non-monthly recognition

Price page and free demo ....

Click to open and view Price page
Stand alone and network sharing prices.
Modular pricing. Basic system plus options.
Evaluate the software with a free demo available on price page.
The demo is the live software and any records added can be rolled into a permanent system.

Excel template:
Request a free Excel template via email
View information regarding records.
Free reports:
If desired, return the Excel template with two or three actual or sample records.
We'll import, generate and return the same file with a set of monthly reports.

Customizing the software ....

Need something unique to your operation?
We wrote the software so we could modify it to meet client requirements,
typically through an import, export process:
1) IMPORT
You import an Excel worksheet(s) containing your records.
The software can modify data values.
Perform "if this, then that" routines.
Table lookup data assignments.
Other requirements.
2) EXPORT
Export calculations and reports to Excel.
Export all or filtered records meeting your selection criteria.
Modify data values during the export process.
Specific column headings and column order.
Other requirements you may have.

To find out more about customizing the software for your needs,
please contact us at your convenience.

More about the software ....

Monthly amortization and expense recognition for terms of 1 month up to 999 months
Straight line, 30 day financial months
Half month convention, 30 day financial months
Partial month amortization, 365 actual days in each month
Actual in-service date to date, 365 actual days in each month
Alternative methods - percentages, designated dollar amounts, take down usage and more

• New records: Exceptions
Defer amortizing a record until a future begin date
Catch up amortization from a prior month(s) when not set up when it should have been

• Amortizing records: Adjustments during term
Single step adjustment screen to handle changes during amortization term
Increase or decrease amount being amortized at any time
Write off the record immediately without deleting it
Extend or shorten a term

• Span calendar and fiscal amortization years
Cross over EOM, EOY periods without doing anything
No monthly or annual close-out involved
Cross over EOM, EOY periods without doing anything
No monthly or annual close-out involved

• Historical archive reporting
Generate any report from any prior month at any time

• Prepaid Asset account reconciliation
Compare balances and activity for one or more general ledger accounts over one or more months.
Pinpoint any out-of-balance conditions.
Beginning balances. New additions. Amortization. Adjustments. Ending balances. Net activity.
Audit schedule preparation.
Provide detail activity from beginning of through end of calendar or fiscal year.

• Audit and examination support
1-800 and email assistance
Many of our clients are CPA and accounting firms who purchased the software
Some import and calculate files for their clients

• Allocation
Post as direct expense and
Allocate one/some/all records to multiple expense accounts - branch, cost center, department ....
Use a single or multiple user-defined methods

• Multi-company operations
Parent
Subsidiaries
Other relationships
Same or different general ledger systems

Click. Click. All monthly reports with two mouse clicks!

• Trial Balance report for reconciling to general ledger
Supports any general ledger chart of accounts
Records listed in date order with amortization calculations
Subtotals for cost, monthly expense, accumulated and book value
Subtotals provided for each:
General ledger expense account including branch, department, other centers
General ledger prepaid asset
Report totals
View and print:
Records and subtotals
Subtotals only

• Journal Voucher debit and credit column posting source document
Posting transactions can be:
General ledger subtotals or
Individual records
Transactions can be created:
For current or a previous month
More than once
As reversal entries (undo)

• General ledger posting file
Transactions can be formatted for any general ledger system
Upload the file to your general ledger
Paste contents to a spreadsheet or elsewhere

• No close out required.
Discover an error afterward? Merely fix and rerun.

About your existing records ....
Getting started ....
Three ways to address your existing records:
1) Enter them directly into the software using the Editing screen.
Afterward, enter new records using the same screen.
2) Import Excel and other worksheet conversion data.
Continue importing new records, too.
3) Short on time?
Send us a file and we'll convert your records.

Prior calculations Preserve current Book Value and Accumulated.
Or the software can recalculate everything in a consistent manner from the original date.

Import - How our clients use this feature:
1) Most converted their spreadsheet records and now utilize the Editing screen.
2) Some maintain all records in a spreadsheet and always import their entire file.
3) Other clients converted, now use the Editing screen but also import new records:
Files created at branch sites.
Sent from their Accounts Payable (A/P) department.

Even if you inherited a junker file, your existing records can be converted to the software.
Unique data conversion values can be incorporated, too.
Be up and running with a solid system today!

Export, too.
Copy any report and paste to a worksheet.
Includes Book Value, Accumulated, Remaining Term
Other calculated values "as of" any month.
Copy all records.
Use report filters to selectively choose and generate desired subtotals.

Features not found in many other systems ....
Easy to use set up screen with field entry documentation
Plus, import data from Excel and other spreadsheets
Automatic Review/Maturity date calculation for tickler file reporting
System generated ID numbers. Or assign your own
Terms of 1 through 999 months
Maintain up to 99,999 records
"How" the record will amortize is displayed as data is entered
Description, date, amount and term are the only items needed
Default values create new records quickly and consistently
Copy (dupe) an existing record - only change values that differ
( very handy when setting up renewals )
Copy a single field value from all existing values
Notes
• Maintain important and other information about a record
• View, print and even include Notes on a report
• Retrieve old Notes from a prior month History file
Edit Several
• Walk through records while editing
• Advance to next or previous
Multiple amortization methods
• Financial months
All months have 30 days. Amortize an item evenly over 1 thru 999 months.
• Actual days in each month. First and last can be partial months
Amortize an item for the actual date to date "in-service" days.
• Sum of the years digits
Recognize greater amounts during earlier months, gradually taper down.
• Non amortizing recurring expense, fixed or monthly variable
User defined codes for Vendor, Type and other reporting
• Link records to aggregate by common purpose
• Tables for meaningful subtotal descriptions, such as Vendor names
GAAP, AICPA, FASB compliant.

Calculate amortization for ANY month (expense and book values for a previous month, current month, future month, end of next year ....)
and ANY range of months (month by month expense and book values for any period - three months, an entire year, even longer)
at ANY time (now or "as of" now but five years down the road)
and generate ANY system report (standard, filtered, user defined)
to ANY output device (screen, printer, Excel worksheet or other spreadsheet)

A complete software system ....
• Enter records, edit records within the software.
Import Excel, too.
Unique option to convert worksheet records or always import and generate reports on demand.
• View, print, export reports.
• Direct post to general ledger accounts. Allocate selected records to multiple centers.
• Upload posting file for any general ledger system.
The software builds a posting file conforming to any column format, any file layout. Undo reversal.
Backdate entries to a prior month.

• Data records
- Enter, edit, add your accounting records to the software database using an input screen.
• Immediate amortization schedule helps verify correct entry.
• Documentation, screen Tips, dupe function, rollover/renew ability, posting history.
• Notes. Log reasons for changing and other critical information regarding a specific record.
- Defer - Postpone amortization to a future "in service" month.
- Catch up - Include prior month(s) amortized expense in current month when setup was late.
- Adjustment - Single step adjustment screen simplifies partial refund, additional payment,
change to remaining term or immediate write off.
- Your existing records - Retain current balance for existing records or the software can calculate from each begin date.

Applicable for these records and more ....
• Prepaid expenses
• Capitalized cost and other prepaid assets
• Deferred charges
• Insurance premiums for
Hazard, fire, flood, auto, life, D&O, health, bonds, other
• Maintenance agreements: Hardware, software, other
• Office, building, branch supplies having a shelf life
• Equipment and upgrades
• Bond and investment premiums, discounts
• Memberships, licenses, dues and subscriptions
• Incorporation and set up charges
• Professional service fees, retainers
• Taxes, tangible and intangible, parcels, certificates
• Advertising, marketing, promotional items
• Loan charges, dealer reserves, indirect lending fees
• Leases, rents, other prepaid occupancy and security costs
• Leasehold improvements
• Donations, gifts
• Capitalized, fiduciary property upkeep
• Other prepaid expenses and deferred charges
• Recurring transactions
Fixed amount
Variable amount
• Any amortizing record with a monthly debit and offsetting credit

• Amortization methods at the record level ....
    1) Straight line monthly
- 30 day financial months
- Most commonly used
2) Accelerated
- More is taken during early months
    3) Actual calendar days
- Amortization is from a start date to an ending date
- In-service, contractual term
- Full months
- Partial months
- Half month convention (first month only or first month and final month)
   4) User defined Alternate methods
- Recognition based upon multiple factors

Allocate monthly amortization ....
Generally, monthly amortization is posted directly to a general ledger expense account.
If need be, the software can create posting transactions for a single record to multiple:
Branch, department, RC, cost center accounts.

Allocate using one or more Methods defined by you, such as:
- Same percentage to each cost center (evenly).
- A specific fixed percentage.
- Varying percentage, based on:
Workstation count, employee count, department square feet, revenue stream, asset dollars, more.
- Which centers are to participate in an allocation Method.
- Virtually any number of different Methods for any purpose that can be expressed numerically.

Allocating is easy:
- Merely substitute the cost center portion of a general ledger account number with a Method.
Cost center identifiers can be of any length.
They can be located at the beginning, middle or end of an account number.
- A Method can even be shared among records having different base account numbers.

Audit trail:
The system creates a report showing how each amount was allocated.

History and File Archiving ....
Never lose a report again:
• Automatic record and report archiving for retrieval at a future date
• Review all changes made (old value, new value) to a record during its entire term
• View and print reports for any prior month and year.
Send reports to Excel. Email requested information to your CPA/auditor.
Span fiscal year - display general ledger annual expense for each month.
• Go Electronic!
Monthly history files allow you to print reports only when necessary.

Price ....

Click to open and view Price page
Stand alone and network sharing prices.
Modular pricing. Basic system plus options.
Evaluate the software with a free demo available on price page.
The demo is the live software and any records added can be rolled into a permanent system.

Questions? 1-800-245-8444 or
email Support@fdssi.com