Bookkeeping
Big upfront costs, spread properly
Pay a year of insurance in January and your books shouldn't show a disastrous January. Costs that cover many months get spread across the months they actually cover.
How HaiFi does this
The workflow, step by step.
Every step is captured in the audit log — what was decided, why, and anything we weren't sure about. If you or your CPA ever need to trace a number back to its source, it's all there.
- 1
Detect new prepaid expenses
Scan posted entries to the prepaid GL account. Pull the invoice or receipt from the repository to read the term length (annual policy, semi-annual subscription, multi-year contract).
- 2
Build the amortization schedule
Generate the monthly release schedule for the prepaid's life. Straight-line across the term unless the contract specifies otherwise (front-loaded retainers, milestone-based releases).
- 3
Roll forward existing schedules
Pull every active prepaid schedule from prior months. Apply this month's release. Update the ending balance. Carry forward to next month.
- 4
Draft the monthly release JE
One entry per active prepaid: debit the expense account, credit prepaid. Class and location tags inherited from the original entry.
- 5
Reconcile to the prepaid GL balance
Sum of remaining balances on every schedule should tie to the prepaid GL account. Variance flagged with the missing or mismatched schedule called out.
- 6
Approve the batch and post
Reviewer approves all monthly release entries in one batch at month-end close. Schedule rolls forward automatically for next month.
What you get
What lands in your books.
An amortization schedule per active prepaid expense, posted monthly release entries, and a rollforward that ties the schedule balance to the prepaid GL account.
Without HaiFi vs. with
The time you get back.
Bookkeeper opens last month's prepaid schedule, manually adds any new prepaids by reading the contract or invoice, types the monthly release JE, updates the ending balance, ties the sum to the GL. Every month. The kind of work that gets skipped under deadline pressure — and then the prepaid balance is wrong by year-end.
Schedules auto-generated and rolled forward each month. New prepaids detected from the posted entries. Reviewer approves the batch at month-end — usually under 5 minutes.
Also included in your plan
Every expense, categorized
Every charge on your bank and cards sorted to the right category, with the vendor attached. When something genuinely can't be worked out from the record, you get one plain question instead of a spreadsheet.
Every account tied to reality
Each account on your balance sheet checked and backed with evidence every period — so the numbers hold up when a lender, an investor, or a buyer starts asking.
Your P&L, balance sheet, and cash flow
The three statements your bank, your investors, and your CPA all ask for — ready on demand, not reconstructed the week you need them.
Big upfront costs, spread properly, handled for you.
Included in every HaiFi bookkeeping plan — done by AI, approved by accountants.