Liabilities

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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clbc
Posts: 1
Joined: Mon Aug 15, 2005 12:57 pm
Location: Bullard, TX

Liabilities

Post by clbc »

In the set-up, I showed a mortgage liability. It was set up under Long Term Liabilities. This mortage has been payed off, how do you get it removed from LTL on the balance?
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Matt
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Posts: 733
Joined: Fri Dec 05, 2003 4:04 pm
Location: Jacksonville, AL

Post by Matt »

Input an adjustment in Fund Accounting such as the following:

Debit: Mortgage Liability
Credit: Net Unrestricted Assets
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