Use the Liability Codes tab to define the implicit posting of the vouchers to an
account number and, if applicable, to an
organization.
Contents
| Field | Description |
|---|
| Code
|
Enter a code to identify this liability code, using up to 10 characters of free text. For example, you can define your
accounts payable
consultant
account as Consult.
|
| Description
|
Enter a description for the liability code. The description is used in place of the code on
accounts payable reports. If you use
Organization Reporting, you can include the name of the
organization in the description.
|
|
Account
|
Enter the
account or click
 and select an
account on the
Account lookup. The
account that you specify will receive the implicit posting when you use this liability code in transaction entry/posting routines.
|
|
Account Description
|
When you enter the
account number, the
account description displays automatically.
|
|
Organization
|
If you are using the
Organization Reporting application and are maintaining separate balance sheets by company, specify the
organization code to which vouchers using this liability code will post. You can enter an
organization in this field or click
and select an
organization on the
Organization Lookup.
You can post the
accounts payable credit to the same
organization as the debit (in other words, the
organization to which the
project belongs). If you want to do this, leave the
Organization field blank.
If you use a liability code that defines an
organization when entering a voucher, the debit and credit may post to separate
organizations. If this situation occurs, a tolerance appears if you are maintaining separate balance sheets. However, a consolidated balance sheet should not show a tolerance. To avoid the possibility of a tolerance, enter your vouchers in batches according to the
organization of the debit.
If you cannot enter your vouchers in batches according to the
organization of the debit, you should enter the vouchers using a liability code that does not define an
organization. In this situation, the debit and credit amounts are posted to the
organization associated with the
project of the debit.
|
