General
Prepaid Corporate Gym Membership
Paying for a 1-year fitness membership for employees as part of a wellness program.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Prepaid Expenses | Asset (+) | 1,200.00 | - |
| Cash / Bank | Asset (-) | - | 1,200.00 |
💡 Accountant's Note
Since the benefit is for the whole year, the payment is an asset. Each month, $100 will be moved to 'Employee Benefits Expense'.
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