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Thank you for your reply. We use version 9, however I can budget on liability and expense line items. If we pay addional payments on the principal, how will this affect my budget? My question now is do I need to set an asset line for this loan? If so please show me how to do this.
Thank you

We have a mortgage loan that I had set up in a fund by its self, now the financial board wants it set up in Gen Operating, as they have set a budget amount for the loan payments. The budget is for what our payments would be for the year as a total, including principal and interest. Also I'm not sure...

Thanks you have been a big help!

Thanks, I think I understand what I'm doing wrong. My payroll is set up correctly, but when I pay IRS, I have been debiting the expense acct for the employers expenses not the libility acct. I didn't understand how the payroll worked. To correct my balance sheet, should I make a journal entry to deb...

Thanks for the reply, but I'm still confused. When I pay Irs here the action I take:
1110 (bank Acct) credit
2215-2219 (libilities) debit
5565 (payroll expense- employer portion)debit

Is this not correct?

I'm not sure if my payroll liabilities are set up correctly on not,because I have a running total adding up on my balance sheet. I think the problem may be with the employer's portion of ss and mc. This is the way it is set up maybe someone can tell me if this is correct. Payroll tax expense account...