Liability Question

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

Moderators: Moderators, Tech Support

Post Reply
pfericksonosl
Posts: 13
Joined: Wed Apr 23, 2008 4:20 pm

Liability Question

Post by pfericksonosl »

We just restarted our Fund Accounting module last week. We ran the "wizard" to help us.

We found out today that we entered the wrong amount for the liability account-- State Taxes Payable. Is there a way to correct this? Thanks for your suggestions.
Top
Jeff
Program Development
Program Development
Posts: 1225
Joined: Fri Sep 05, 2003 11:43 am
Location: PowerChurch Software
Contact:
Contact Jeff

Post by Jeff »

You will have to enter a transaction to correct the balance of the liability account. For the offsetting account use the unrestricted equity account.
Top
Post Reply

Return to “Accounting”