Amortize Prepaid Expenses and Allocate/Distribute them Across One or Several Cost Centers or Departments

Customer posted an amount to a prepaid utilities expense account and would like to it to be allocated to multiple Utilities expense accounts across cost centers using Allocation Schedules. On the Allocation Schedule, customer defined the Prepaid account as the Source account and the Utilities expense accounts as the accounts to which the prepaid balance will be allocated to in the Destination tab.  This resulted to the prepaid account being debited instead of credited for the same amount to which it was supposed to be deducted and the expense accounts were credited instead of being debited.Expense Allocation schedules should be used to manage the allocation or distribution of incurred expenses from expense account/s to other expense account/s across cost centers or departments.  Directly amortizing and allocating a deferral or prepayment will not work properly thru the use of Allocation schedules. To properly manage the amortization of deferred or prepaid expenses, customer should use Amortization Templates. The said templates will then be tracked by Amortization Schedules which will be used when expenses are actually incurred and are due for posting. The posted transaction transfers the amount from the deferred or prepaid account to the expense accounts.  Once the expenses are amortized, allocation schedules can be created to distribute the expenses across cost centers or departments.   Note: Please refer to the Help Guide for the complete documentation of Amortization and Allocation Schedules.