A prepaid expense refers to a payment made in advance for goods or services that will be received in the future. It represents an asset on the balance sheet until the expense is incurred and recognized as an expense in the income statement. Common examples include prepaid rent, prepaid insurance premiums, and prepaid subscriptions, which are gradually expensed over their respective periods as they are used or consumed.
Reimagine Your Order-To-Cash with AI
Touchless Receivables. Frictionless Payments.
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Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Autonomous O2C to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
