long term liabilities

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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BethAn
Posts: 58
Joined: Tue Oct 12, 2004 12:10 pm
Location: Parkway Presbyterian

long term liabilities

Post by BethAn »

When I set up the accounting program in January 2005 I didn't enter our mortgage as a long term liability. The new treasurer wants me to now enter the balance of our mortgage as a long term liability. I've set up a liability line under long term liabilities.

How do I enter the amount of the balance due?

I'm using v9.

Thanks.
"God does not reveal the divine will to the curious, but to the obedient."
"What Christ has been and done for me, I must be and do for others."
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Zaphod
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Post by Zaphod »

Unless I'm missing something, you'd just enter it as a journal entry where you credit the liability and debit your fund balance (unrestricted net assets).
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BethAn
Posts: 58
Joined: Tue Oct 12, 2004 12:10 pm
Location: Parkway Presbyterian

Post by BethAn »

Thanks for the reply.
"God does not reveal the divine will to the curious, but to the obedient."
"What Christ has been and done for me, I must be and do for others."
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