| Cheque Writing
Windward System Five will allow you to copy reoccuring entries into
future months so that you don't have to post the same entry over
and over each month, or possibly forget to post an entry. You can
post forward into any month in the year and even post into next
year.
This can be used for insurance for example. Let's say you pay $1,200
for insurance for the year in July. Is this really a July expense
for $1,200 or are you in fact spending $100 per month and just happened
to pay the bill in July?
From an accounting point of view, it's best to expense a little
of this each month so that you can accurately guage how much it
costs to run your business monthly. To do this, you would post the
$1,200 to prepaid expenses as an asset (something you own that is
of value to the company) and then remove $100 from prepaid expenses
and post to to insurance expense each month. In Windward, you can
create the entry for one month and then copy it to the other 11
months, saving you time and effort.
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