QB Pro 2005 - I have an insurance policy with an annual premium of $1,000, payable in four equal quarterly installments of $250. I could post the full premium as a payable. But then, how would I handle the quarterly payments so they reduce the payable each quarter? Also, I'd like to set this up in QB pro 2005 so that the payments show up as reminders.
I don't want to bother with adjusting for prepaid insurance. That can wait until year-end. when I can make an appropriate GJE.
Any suggestions?