Full Accounting - Transacting on Liability Accounts

Provision has been made to load transactions manually on Liability Accounts where necessary, for example Opening Balances in respect of Owner Held Deposits.

Liability Accounts are Balance Sheet accounts and as such will normally have Credit Balances. The process would be as follows:

• To increase any Liability Account - create a Credit Note on the Account
• To decrease any Liability Account - create a Debit Note on the Account
• You will be required to select the By Affecting Category to complete the Debit/Credit Double Entry Accounting journal for the transaction (see below)