Hello
I need to set -up a long term liability loan on our chart of account. I notice when I tried to enter the accounting transaction by way of JE the account for the Long Term Liability is greyed out. So its like the account is not active. How do I activate the account (2610) or do I set-up a sub account. The account I am referring to is Mortgage and Loan (2610)
Accounting Long Term Liability
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Accounting Long Term Liability
Margaret Allen
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Re: Accounting Long Term Liability
The accounts shown in gray are Group accounts and can't be used in transactions.
Go back to the Maintain Chart of Accounts screen, use the Locate button to find that 2610 account, verify that it is showing as a Group instead of a Detail, and delete it. To do this, click the Delete button at the top of the screen.
You can then add the account again, this time choosing Detail and Liability on the first step of the Add Account assistant.
Go back to the Maintain Chart of Accounts screen, use the Locate button to find that 2610 account, verify that it is showing as a Group instead of a Detail, and delete it. To do this, click the Delete button at the top of the screen.
You can then add the account again, this time choosing Detail and Liability on the first step of the Add Account assistant.
Re: Accounting Long Term Liability
Thank you so much for help. The account is now active and I have book the loan.
Margaret Allen