Generate and start prepaid expense schedules

After you create your prepaid expense classes and prepaid expense schedules, you must generate the amortization schedule. Generating an amortization schedule creates the individual prepaid expense schedule entries with the Review status. After, you approve and start the schedule to update your prepaid expense schedule entries from Review to Pending so you can post your prepaid schedule entries to the GL.

Statuses for prepaid expense schedule

Different workflow statuses are applied to prepaid expense schedules depending on where the schedule is in the overall amortization workflow. Furthermore, depending on where the prepaid expense schedule was created, it has a specific default status.

For any prepaid expense schedules created from bills or vendor invoices, the default status is Schedule Generated, which means the amortization schedule (the individual prepaid expense schedule entries related to the prepaid expense schedule) has been generated by the server and is ready to be approved and started.

In contrast, prepaid expense schedules created manually or imported have a default status of Review, which means you still need to generate the amortization schedule for the record to progress in the amortization workflow.

To determine where a prepaid expense schedule is in the overall amortization workflow, check its status on the Prepaid Expense Schedules list.

There are six workflow statuses a schedule goes through:

• Review: Schedule is ready to be reviewed and generated. This status only applies to imported and manually created prepaid expense schedules. You must generate the amortization schedule to continue in the workflow.
• Pending Schedule Generation: The amortization schedule is connecting to the server and awaiting generation.
• Processing: The server is generating the amortization schedule.
• Schedule Generated: The amortization schedule has been generated. Now you approve and start the schedule to generate the prepaid expense schedule entries defined by the amortization schedule.
• In Progress: The prepaid expense schedule entries are available from month to month depending on the posting date. Post your prepaid expense schedule entries to continue in the workflow.
• Completed: The prepaid expense schedule has completed its life cycle. All prepaid expense schedule entries have been posted to the GL and the expense is completely amortized.

Generate amortization schedules for manual schedules

Any prepaid expense schedules that you created manually or imported has a default status of Review, which means you need to generate the amortization schedule for the prepaid expense schedule record to create the individual prepaid expense schedule entries. You can generate as many schedules as you like at once.

After you generate the schedule, the status changes to Pending Schedule Generation, then to Processing, and finally settling on Schedule Generated when the schedule is ready to approve and start.

1. Go to Prepaid Expense Amortization > Prepaid Expense Schedules > Prepaid Expense Schedules.

   A list of all prepaid expense schedules appears.

2. Select the checkbox along the row of any schedule with a status of Review that you want to generate.
3. From the More actions dropdown list select Generate Amortization Schedule.
4. Confirm the selected prepaid expense schedules are the records you want to generate, then select Yes.

Schedules not generating?

If your schedules aren't generating, consider the following solutions:

• Be patient. Due to the large amount of companies supported on the Sage Intacct servers, generating schedules takes time, sometimes up to thirty minutes.
• Check the permissions of the user and xmlgw-PEA user to confirm they have the required set.
• If you entered a prepaid expense schedule through a bill or vendor invoice, and you can't find the prepaid expense schedule on the Prepaid Expense Schedule list, then you may need to edit the bill or vendor invoice and post it again to prompt the server to generate the schedule again. Sometimes requests time out due to busy servers.

If none of these solutions work for you, contact Sage Intacct support.

Approve and start prepaid expense schedules

You approve and start prepaid expense schedules that have a status of Schedule Generated to update your prepaid expense schedule entries from Review to Pending and progress further in the amortization workflow.

Review your prepaid expense schedules

Before you approve and start your prepaid expense schedules, be sure to review them thoroughly to avoid any errors when posting your schedule entries. If you find any missing or incorrect data, edit the prepaid expense schedule before you approve and start it.

In particular, you should check the following items:

Requirement	Details
The prepaid expense schedule has values for all dimensions required by the expense account.	The GL expense account in the prepaid expense class determines which dimensions are required by your prepaid expense schedule. If you don't have these values, you might experience errors when posting your prepaid expense schedule entries to the GL. What dimensions are required by the expense account? You can determine the dimensions required by the expense account through the prepaid expense class record. To determine the required dimensions: Go to Prepaid Expense Amortization > Prepaid Expense Classes > Prepaid Expense Classes. A list of all prepaid expense classes appears. Select the name of the prepaid expense schedule you want to view in more detail. Select Expense Amortization GL Account. On the General Ledger Accounts page, take note of any selected dimensions in the Dimension settings section.
All dimension values are active, including the Vendor on the bill or vendor invoice.	If a dimension value is inactive, you could experience errors when posting your prepaid expense schedule entries to the GL. How do I know if a dimension value is active? To check if the dimension value is active: Go to the dimension value record. For instance, if you want to check the vendor ACE Parking, then you would go to Accounts Payable > All > Vendors and select More actions > View at the end of the row for ACE Parking. For instance, if you want to check the vendor ACE Parking, then you would go to Accounts Payable > All > Vendors, and select View beside ACE Parking on the list. Confirm the Status of the record is Active.
The prepaid expense schedules specifies an Exchange Rate Type and Exchange Rate Date.	These fields are required for your schedule entries to post to the GL if your transaction currency is different form base currency.

Start your prepaid expense schedules

Once your prepaid expense schedules have been reviewed and edited for any necessary changes, you can approve and start them.

After you approve and start the schedules, the status will change to In Progress, which means the amortization schedules are in progress and the related prepaid expense schedule entries are ready for you to post from month to month depending on the posting date. You can view the prepaid expense schedule entries on the Prepaid Expense Schedule Entries list (Prepaid Expense Amortization > Prepaid Expense Schedule Entries > Prepaid Expense Schedule Entries).

1. Go to Prepaid Expense Amortization > Prepaid Expense Schedules > Prepaid Expense Schedules.

   A list of all prepaid expense schedules appears.

2. Select the checkbox along the row of any schedule with a Schedule Generated status that you want to generate.

3. From the More actions dropdown list select Approve and Start.

   Remember, once you approve and start a prepaid expense schedule. It cannot be edited, so be sure you reviewed your prepaid expense schedules first.

4. Confirm the selected prepaid expense schedules are the records you want to approve and start, then select Yes.