Issue Date:

Purpose

A type of deferred charge that represents expenditures, often recurrent, for future benefits. Examples include prepaid operating expenditures, prepaid rent, taxes, royalties, commissions and unexpired insurance premiums. Such items are classified as current assets and constitute a part of working capital.

USAS Values

Normal Balance Debit
Account Type Real
GL Posting Level Summary 1 [?]
Summary 1 elements posted: Agy, GL, Fund, NACUBO Subfund, T-Code, Grant No. and Phase, AGL, FY, AY, DR/CR Ind. and Appd Fund.