Multiyear Library Subscriptions

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

1. Register as Bank transfer to Supporting Library Membership

First entry whent the payment is made: year:

• Debit all except first year 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 recategorizetransfer to theSupporting PrepaidLibrary account)Membership
  

SetNext up journal entries for each year: years:

• Debit the annual due/expense to Library Subscriptions Program
  
• Credit the Other Current Assets/Prepaid Library Subscriptions account for the annual amount due

This is what the Prepaid Library Subscriptions chart of accounts should look like: