User Support Forum

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.

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).

Thanks for the reply.