Prepayments

Hello sir,

First i would like to thank you for this amazing tutoring platform. It has been very helpful
I just watch your lectures on prepayments and I have a question.
Given that the job of the bookkeeper is to simply record transactions in the T account and an insurance is paid for a period of 18months for example….how is the accountant able to identify from just looking at the insurance T account that there is a preparement which does not have to included in the SOPL for that year as T accounts don’t have dates. Thank you.