Using Teampay for Managing Prepaid Expenses

Teampay can help identify prepaid expenses by filtering vendor and category, as well as provide service term details.

You should follow your organizations’ procedures for categorizing these expenses and then utilize Teampay to easily find them. An example of this would be filtering for the prepaid expense of Insurance.

1. You can start by navigating to your Teampay.co Dashboard
2. Navigate to your Teampay transactions tab
3. Then filter for your Insurance GL category

Using these steps you can easily prepare to organize your transactions to get a high-level view all of the prepaid expenses for the month.

You can also download all transaction data to Excel to easily view the data including all vendors and categories.

You can send transactions directly to the correct pre-paid balance sheet account by making the account viewable to users. You can then rename the accounts to help users select the correct categorization at the transaction. For example, rename “Software” to “ Software (monthly)” and “Prepaid Software” to “Software (annual)”. When a transaction is categorized as Software (annual), it will be posted to the balance sheet, and you can then add it to your pre-paid worksheet, in Google Sheets or Exce