Advance liability payments
Jim & Grace Flowers
dondiegoflores at verizon.net
Sun Oct 9 09:02:29 EDT 2011
I'm using version 2.4.7 on Windows 7 Home Premium 32 bit. I'm still
learning how to use the program, but all in all, I like it. However, I do
have a question. I'm on a budget plan for one of my utility suppliers.
It's not municipal, it's a private business. Should I set this up as a
liability, as I pay each month, then when I have to "pay" for the propane,
just debit the expense account and credit the liability? Right now, as I
pay each month, I debit the expense account and credit the bank account. I
got to thinking about this, but don't know the answer.
Jim Flowers
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