As many businesses do we will pay for some services annually or quarterly. Alarm monitoring and other recurring services being examples.

Is there a way to setup the item when it is being entered into payable to be recorded as an asset (Prepaid expense) and then have it expense over a set number of months to a expense account.

I realize I could do this by putting the payable to prepaid and then creating 12 entries in the GL (1 each month) to expense it down. But I would like to find a way to automate this at the time of invoice entry.

If this does not exist it could be a good feature for future versions of the program.

Thank you