Import Prepaid Expense Amortization data

Import your prepaid expense classes and prepaid expense schedules into Sage Intacct and avoid the manual hassle.

Prepaid expense classes are the backbone of Prepaid Expense Amortization (PEA). Most notably, they define how many periods the prepaid expense is amortized. Additionally, they determine the expense account to be debited during amortization as well as the journal to which prepaid expense schedule entries post. Amortization method and period buckets are also determined by the prepaid expense class, but each item currently only has one option supported and available.

Prepaid expense schedules work in coordination with prepaid expense classes to automatically generate the month-to-month prepaid expense schedule entries you post to your journal. Most importantly, prepaid expense schedules determine the expense amortization start date, the amount to be amortized, and the prepaid expense class to be used which defines the periods. Furthermore, you set the currency, GL account to be credited, and any dimensions required by the expense account in your prepaid expense schedule. You can even attach a bill to the schedule for previously entered prepaid expenses.

Subscription

Platform Services, Prepaid Expense Amortization
User type

Business
Permissions

Platform Services: All

Prepaid Expense Amortization: Objects, All

Populate the templates with data

Among the prepaid expense setup files you downloaded is the excel spreadsheet PEA Setup Template w. Examples, which holds the import templates for both Prepaid Expense Classes and Prepaid Expense Schedules. If you don't have the setup files, download them from the Community.

While you are verifying the prerequisites for the company, you can download the PEA installation files from Community. Once you download the compressed folder, make sure you extract the files to your local machine so they are usable during the PEA setup process.

To download the PEA module files from Community:

  1. In Community, search on Prepaid Expense Amortization or PEA.
  2. Select Files to filter through files only.
  3. Select Intacct Prepaid Expense Amortization (PEA).
  4. Select Download zip.
  5. On your local machine, locate the compressed folder Intacct Prepaid Expense Amortization (PEA), then right-click the folder and select Extract All....
  6. Browse your local machine for a destination to store the PEA installation files, then select Extract.

Typically, the client fills out the Configuration and Prepaid Expense Class tabs in the setup template excel spreadsheet. Then, using the information filled out in these tabs, you fill in information on the prepaid expense class template and the prepaid expense schedule template. Additionally, before you import any prepaid expense classes or prepaid expense schedules, double-check data given in the spreadsheet and confirm its validity in the company.

Be sure to save each template as a separate CSV file, or you won't be able to import any data.

Prepaid Expense Class template

Prepaid expense classes are defined by the user and outline how prepaid expense schedules are handled. You can import these are the top level or the entity level, depending on your company needs. The table below describes the columns on the 1. Prepaid Expense Class template and how they are used in PEA.

Field Name: Prepaid Expense Class

Type:

Alphanumeric

Default Value:

None

Valid Values:

Alphanumeric characters, hyphens, underscores, and parentheses. No special characters.

Required:

Yes

Editable:

Yes

Description:

The name and ID each prepaid expense class. You need at least one class per expense type, plus one per useful life of the prepaid expense.

For example, you may have two types of insurance: one you pay annually and another you pay semi-annually. One prepaid expense class could be named Insurance_12 while the other could be named Insurance_6. Insurance_12 amortizes the expense over 12 months while Insurance_6 amortizes the expense over 6 months. This type of naming convention offers just enough detail for a user to choose the correct class the first time.
Field Name: Description

Type:

Alphanumeric

Default Value:

None

Valid Values:

Alphanumeric

Required:

No

Editable:

Yes

Field Name: # of Periods

Type:

Numeric

Default Value:

None

Valid Values:

Numerals

Required:

Yes

Editable:

No

Description:

The number of periods the prepaid expense should be amortized, which is counted in months. This is the most important part of the Prepaid Expense Class as this field works in coordination with the Expense Amortization Start Date in Prepaid Expense Schedules to determine how to generate the correct amortization schedule and schedule entries.

Typically, companies need periods that cover anywhere from three months to one year, but PEA supports multi-year periods if needed.
Field Name: GL Account

UI Field Name:

Expense Amortization GL Account

Type:

Numeric

Default Value:

None

Valid Values:

Numerals

Dependencies:

Must exist in Intacct already

Required:

Yes

Editable:

Yes

Description:

This account is debited when schedule entries are posted to Prepaid Expense Journal and General Ledger.

Additionally, this account determines the dimensions required on your prepaid expense schedules.
Field Name: GL Journal

Type:

Character

Default Value:

PPE (Prepaid Expense Journal) is the default journal if no other journal is specified.

Valid Values:

Characters

Dependencies:

Must exist in Intacct already

Required:

Yes

Editable:

Yes

Description:

The journal to which prepaid expense schedule entries post.
Field Name: Method

Type:

Character

Default Value:

SL

Valid Values:

Characters

Required:

Yes

Editable:

No

Description:

Method of amortization. SL (straight line) is the only option currently available for amortization. With the straight line method, any schedule that is entered into Sage Intacct is broken down in equal amounts across the number of periods indicated by the Prepaid Expense Class.

For example, if you enter a prepaid insurance expense for $600, and the expense should amortize in six periods, then a schedule entry of $100 will post to the Prepaid Expense journal over six periods.
Field Name: Schedule Period

Type:

Character

Default Value:

Monthly

Valid Values:

Characters

Required:

Yes

Editable:

No

Description:

Monthly is the only option currently available. Full month amortization expenses the month the prepaid is placed in service, which is based on the Expense Amortization Start Date. The full amount is always amortized; however, this amount can be edited in the prepaid expense schedule entry.
Field Name: Term

Type:

Character

Default Value:

Fixed Period

Valid Values:

Characters

Required:

Yes

Editable:

No

Description:

Fixed period is the only term currently available.

Prepaid Expense Schedules template

Prepaid expense schedules work in coordination with prepaid expense classes to define how amortization schedules and schedule entries should be generated by Intacct. You import these at either the top level or the entity level, depending on where the transactions should be posted. The table below describes the columns on Prepaid Expense Schedules template (2. Schedule Upload - Top and 2. Schedule Upload - Entity) and how they are used in PEA.

If you import schedules at the entity level, then they can only be seen in that entity.
For multi-currency companies: If you import a prepaid expense schedule and define a Transaction Currency in the import, then you must also provide the exchange rate for the conversion to the Base Currency. The Intacct Daily Rate does not automatically apply to imported schedules.
Field Name: Prepaid Expense Schedule

Type:

Alphanumeric

Default Value:

None

Valid Values:

Alphanumeric characters, hyphens, underscores, and parentheses. No special characters.

Required:

Yes

Editable:

Yes

Description:

The name of the Prepaid Expense Schedule that users see. You can use alphanumeric characters and special characters for the name.

Some companies find it useful to add a date range or policy number to the Prepaid Expense Schedule name for increased visibility.
Field Name: Prepaid Expense Class

Type:

Alphanumeric

Default Value:

None

Valid Values:

Alphanumeric

Dependencies:

Must exist in Intacct already

Required:

Yes

Editable:

Yes

Description:

Used to determine how to amortize prepaid expenses. We recommend to copy and paste from the Prepaid Expense Class template.

Field Name: Exp Amort Start Date

UI Field Name:

Expense Amortization Start Date

Type:

Date

Default Value:

None

Valid Values:

Numerals

Required:

Yes

Editable:

Yes

Description:

The number of periods the prepaid expense should be amortized, which is counted in months. This is the most important part of the Prepaid Expense Class as this field works in coordination with the Expense Amortization Start Date in Prepaid Expense Schedules to determine how to generate the correct amortization schedule and schedule entries.

Typically, companies need periods that cover anywhere from three months to one year, but PEA supports multi-year periods if needed.
Field Name: Amount

Type:

Numeric

Default Value:

None

Valid Values:

Numerals

Required:

Yes

Editable:

Yes

Description:

Represents the balance left to amortize for the schedule. This amount is divided by the number of periods defined in the Prepaid Expense Class, then posts that calculated amount to the Prepaid Expense Journal every month.

This amount may be different than the total prepaid expense amount during implementation. For example, if the client purchased an annual Salesforce.com subscription on 1/1/2019 for $12,000, but PEA is not live in their company until 9/1/19, then you must calculate the amount remaining to be amortized as of the PEA live date and use a different Prepaid Expense Class. In this case, the amount remaining to be amortized is $4,000 over four periods, so you would need to create a Prepaid Expense Class for four periods.
Field Name: Currency

Type:

Characters

Default Value:

None

Valid Values:

Characters

Dependencies:

Base currency only

Required:

Yes

Editable:

Yes

Description:

Currency of the transaction.

Multi-currency companies should always import prepaid expense schedules at the entity-level so that they can import in the base currency specific to the entity.
Field Name: Dimensions (Location, Department, Customer, Vendor, Item, Project, Class, Employee)

Type:

Numeric

Default Value:

None

Valid Values:

Numerals

Dependencies:

Must exist in Intacct already

Required:

Depends on the company

Editable:

Yes

Description:

Dimensions that may be required on transactions by the company to post to the GL. The dimensions you must include are defined by the GL expense account defined in the related prepaid expense class.

If you don't add the ID of the required dimension(s) to the Prepaid Expense Schedule during creation, then the corresponding Prepaid Expense Schedule Entries won't post to the GL.

If you have a Prepaid Expense Schedule that must be split to amortize to different dimension values, then you must split the schedule during its creation.

For example, say you pay rent for two separate Locations (100 and 200) upfront each year for $10,000 total. During the Prepaid Expense Schedule creation, you would create two schedules: one for location 100 and another for location 200. The Amount for these schedules should be the total amount of the prepaid expense divided by the number of dimensions by which you are splitting it; in this case, the amount for each schedule would be $5,000.

Similarly, if you create a schedule through a bill or vendor invoice, simply create multiple line entries with a percentage of the amount in each. Then apply the dimensions to each line as needed. A separate schedule generates for each line on the bill or vendor invoice.
Field Name: Credit GL Account

Type:

Numeric

Default Value:

None

Valid Values:

Numerals

Dependencies:

Must exist in Intacct already

Required:

Yes

Editable:

Yes

Description:

The account to be credited by each schedule entry when they are posted to the Prepaid Expense Journal and General Ledger. Prepaid Expense Schedules can be linked to different GL Accounts, depending on the needs of the company.
Field Name: AP Bill Record No.

Type:

Character

Default Value:

Fixed Period

Valid Values:

Characters

Dependencies:

Must exist in Intacct already

Required:

Yes

Editable:

No

Description:

Bill record number associated with the prepaid expense schedule. This isn't required, but it's another way to track and connect data in Intacct for increased and accurate visibility. The bill number is not the same as the bill record number.

You may have to create a new view on your Bills list to view the record number of the bill.

To include the bill record number in a view:

  1. Go to Accounts Payable > All > Bills.

  2. On the Bills list, select the Manage views dropdown, then select Create new view.
  3. For the Select columns step, select Record number and any other fields you might need to identify the bill easily, such as Bill number, Vendor name, Date, and Total transaction amount.
  4. Select the next icon beside the step dropdown.
  5. For Select column sequence, drag and drop the fields in the order you wish to view them.
  6. Select Save.
  7. Enter a Name for your view. For instance, Bill record numbers.
  8. Select the Deploy checkbox.
  9. Optionally, add a Description of your view.
  10. Select Save.

On the Bills list, your view is available from the All dropdown menu. Select it to view the bill record numbers and add them to your prepaid expense schedules as needed.
Field Name: Entity ID (multi-entity only)

Type:

Numeric

Default Value:

None

Valid Values:

Numerals

Dependencies:

Must exist in Intacct already

Required:

Yes

Editable:

Yes

Description:

Fixed period is the only term currently available.

Import Prepaid Expense Classes

Because PEA is a separate custom platform application, additional steps are required before you can import prepaid expense classes. In this case, you must:

Begin the Prepaid Expense Classes import

  1. Go to Prepaid Expense Amortization > Prepaid Expense Classes > Import.

  2. In Spreadsheet File, select Choose File, then select the prepaid expense classes CSV import file from your local machine.
    Be sure to preview your CSV import file before uploading it. We recommend deleting unnecessary line entries to ensure clean imports.
  3. For Import Mode, choose Online for templates with less than 200 entries or choose Offline for templates with more than 200 entries.

    Online: Occurs immediately after you confirm the import. Gives you the results of the import in real-time in Intacct after you upload the file.

    Offline: Occurs in the background as you work. Sends you an email with the results of the import once the import is complete.

  4. Select Next.

Edit the Import page to include additional fields

The Import: Prepaid Expense Class page doesn't display the required fields Expense Account or Journal, so you must edit the page to add them. You only need to complete this task once in each company.

To edit the import page to include additional fields:

  1. Select Edit this Page in the top right corner, under the navigation bar.

    Though you can use Chrome, Safari, or Firefox, the Page Editor is only fully supported in Internet Explorer.

  2. On the Page Editor, drag the Expense Amortization GL Account lookup field from Available Components section and drop it into the Map Prepaid Expense Class Fields to Import File Columns section. We recommend placing the field under # of Periods.
  3. Similarly, drag and drop the GL Journal lookup field from Available Components to Map Prepaid Expense Class Fields to Import Field Columns, under Expense Amortization GL Account.
  4. Save your changes.

Update the import map

  1. Preview your CSV import file in another window, then match up the columns accordingly.

    Import map field values
    Field Value
    Prepaid Expense Class Prepaid Expense Class (col A)
    Description Description (col B)
    Method From the Constant Value dropdown list, choose Straight Line to reduce data import errors.
    Schedule Period From the Constant Value dropdown list, choose Monthly to reduce data import errors.
    Term From the Constant Value dropdown list, choose Fixed Period to reduce data import errors.
    # of Periods # of Periods (col C)
    Expense Amortization GL Account GL Account (col D)
    GL Journal Select the magnifying glass icon to search for and select the designated Prepaid Expense Journal (PEJ).
  2. Select Save Map to store this map for later use.
  3. Name your map and select Save.

Complete the Prepaid Expense Classes import

  1. In Select Map, choose the import map you created.
  2. Ensure the columns are matched up properly to your CSV import file.
  3. In Email Address, enter an email address to receive import notifications.
  4. Select Import. If you imported online, review the results of your import on the next page. If you imported offline, review the results of your import via email.

Import Prepaid Expense Schedules

  1. Go to Prepaid Expense Amortization > Prepaid Expense Classes > Import.

  2. In Spreadsheet File, select Choose File, then select the prepaid expense schedules CSV import file from your local machine.

    Be sure to preview your CSV import file before uploading it. We recommend deleting unnecessary line entries to ensure clean imports.

  3. For Import Mode, select Online for templates with less than 200 entries or select Offline for templates with more than 200 entries.

    Online: Occurs immediately after you confirm the import. Gives you the results of the import in real-time in Intacct after you upload the file.

    Offline: Occurs in the background as you work. Sends you an email with the results of the import once the import is complete.

  4. Select Next.
  5. In Select Map, choose PES Standard Import Template.

  6. Ensure the map matches your CSV import file columns.

    If you're using the AP Bill Record No column, be sure to update the map column manually before you import.

    If your import entries are linked to bill records, then similar to Prepaid Expense Classes, you must add this field manually to the Import: Prepaid Expense Schedule page by editing the page.

    To edit the page to include additional fields:

    1. Select Edit this Page in the top right corner, under the navigation bar.

      Though you can use Chrome, Safari, or Firefox, the Page Editor is only fully supported in Internet Explorer.

    2. On the Page Editor, drag the AP Bill lookup field from Available Components section and drop it into the Map Prepaid Expense Schedule Fields to Import File Columns section. We recommend placing the field under Credit GL Account.
    3. Save your changes.

  7. For Exchange Rate Date and Exchange Rate, which are required even in single-currency companies, set the fields to the following.

    Exchange rate date and exchange rate values
    Field Value
    Exchange Rate Date Select Constant Value from the first dropdown list, then select today's date (shortcut "T") for the date.
    Exchange Rate Select Constant Value from the first dropdown list, then enter 1.00 in the adjacent field.
  8. Enter an Email Address to receive import notifications from Intacct.
  9. Select Import. If you imported online, review the results of your import on the next page. If you imported offline, review the results of your import via email.