Use the Liability Codes tab to define the implicit posting of the vouchers to an account number and to an organization (if applicable).
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.
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| 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, Vision automatically enters the name of the account in this field.
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| Organization
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If you are using the Organization application and you are maintaining separate Balance Sheets, 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
Organization 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 get posted to the organization associated with the project of the debit.
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