What is an Accounting Schedule?

An accounting schedule is a supporting document that provides additional details or proof for the information stated in a primary document. In business, accounting schedules are needed to provide proof for the ending balances stated in the general ledger, as well as to provide additional detail for contracts.

Examples of Accounting Schedules

Examples of accounting schedules are as follows:

A list of the aged accounts payable. This is a standard report that is generated by an organization’s accounting software.
A list of the aged accounts receivable. This is a standard report that is generated by an organization’s accounting software.
An itemization of all prepaid expenses. This schedule lists all prepaid expenses that are still recorded as assets, rather than being charged to expense. This schedule is usually maintained manually.
An itemization of all fixed assets and their associated accumulated depreciation. This can be created by a fixed assets software module, or it may be compiled manually.
An itemization of all inventory and their associated costs. This is a standard report that is generated by an organization’s accounting software.

How Schedules are Used in Projects

A schedule is also a timeline for a project. For example, a schedule shows the activities required to complete a construction project, along with task assignments, expected task durations, and milestones reached.