Prepaid Expenses (Long Term)
Hi, I have some prepaid subscriptions that stretches out for 4-5 years. I would like to create these as assets, then at the start of each FY, create an expense that pays out from the account.
Since I was unable to put money into the default Prepaid Expenses, I created another account called Prepaid Expenses (Long Term) under Other Assets. However, when I create the expense, I was unable to pay from this account. There is however, a choice to pay out from the default Prepaid Expenses account, which I can't figure out how to get money into.
Please note that I am on the free account, appreciate if you can suggest how to do it.
Thank you very much!