Multiyear Library Subscriptions

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

1. Register as Bank transferdeposit to SupportingPrepaid Library MembershipSubscriptions
   
2. First year:year (same date as bank deposit):
   
   • Debit all except first year to the Other Current Assets/Prepaid Library Subscriptions account
   • Credit to transfer to Supporting Library Membership
     
3. Next years:
   
   • Debit the annual due/expense to Library Subscriptions Program
     
   • Credit the Other Current Assets/Prepaid Library Subscriptions account for the annual amount due
   • Credit the annual due/expense to Library Subscriptions Program

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