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gdub
Level 1

How do I edit a sales receipt as a long term liability?

 
1 Comment 1
vpcontroller
Level 11

How do I edit a sales receipt as a long term liability?

@gdub 

How do I edit a sales receipt as a long term liability?

 

If you're editing a sales receipt (and not creating a new sales receipt), you will need to change the existing product/service item code to a new one that's mapped to a long-term liability account.

 

To create a new product/service item code mapped to a long-term liability, not to an income account.

 

  1. First, you need to add a new Long-Term Liability account in your Chart of Accounts (Account Type = Long Term Liabilities.
  2. Once you have this new account, create a new product/service Item as a Service Type item. And on the Income Account field, select this long-term liability account. Save.
  3. Now, you're ready to use this item on invoice or sales receipt.

Hope this helps!

 

long-term-liability.PNG

 

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