Multiyear Library Subscriptions

For library subscribers who pay their multiyear dues all at once:

1. First entry whent the payment is made:
   • Debit to the Other Current Assets/Prepaid Library Subscriptions account
   • Credit to cash (this should be a transaction in the banking data dump that you will recategorize to the Prepaid account)
2. Set up journal entries for each year:
   • Debit the annual due/expense to Library Subscriptions Program
     
   • Credit the Other Current Assets/Prepaid Library Subscriptions account for the annual amount due