Money you pay before getting medical care; also referred to as preadmission deposits.
Something you have paid in advance of the liability arising. For instance, you may pay telephone rentals quarterly in advance.
the amount of an expense which relates to a future accounting period, e.g. rent paid for the quarter to 25 June includes 86 days after a 31 March period end - the relevant proportion will be prepaid to be an expense in the next period of account
A prepayment is an amount that you pay on your mortgage or other loan that constitutes an additional, unscheduled payment. Prepayments pay off a loan sooner and reduce total interest expense.
Advance payment of expenses such as insurance and taxes.
Prepayments are classified as current assets in the balance sheet. Prepayments include prepaid expenses for services not yet used, for example rent in advance or electricity charges in advance, and also accrued income. Accrued income relates to sales of goods or services that have occurred and have been included in the profit and loss account for the trading period but have not yet been invoiced to the customer.
Advance payments of expenses such as insurance and taxes, often into an escrow account.