Use the Vendor Types tab to assign default liability codes to vendor types.
Contents
| Field | Description |
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| Type
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Select the vendor type to which you want to assign the liability code.
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| Liability Code
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Select the liability code to use when posting transactions to this vendor type. Liability codes are created on the Liability Codes tab. If you use separate liability codes, it is useful to attach a liability code to the appropriate vendor type. Then, the transaction entry supplies the liability code automatically for each vendor.
For example, assume you have the following liability codes defined: Consult, Trade, Employee, and Other. You may want to set up the following vendor types: C - Consultant, T – Trade, E – Employee, and O – Other.
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