From paper to computer, the life of an accountant is abundant with constant changes. As I look back to my accounting career, it brings back a lot of memories of preparing an amortization schedule, which includes things such as prepaid expenses.

One must be accurate and detail-oriented with each line of entry, and you must ensure each formula is just as precise as the other line. In situations where you might have many tasks and tight deadlines during closing, limiting this recipe for errors is key.

Here’s an example of what I used to do to keep track of my prepaid expenses, using Microsoft Excel as my primary platform: