AP: Updating Liability Transfers to the General Ledger

1. On the Accounts Payable Menu, select General Ledger.

2. Under Type, select Liability Transfers.
3. You may filter your update by User Names, Posting Dates, Companies, and Vendor Types.
4. Click Preview to review the records. The Preview will contain an Unable To Post Report, if applicable.
5. Make corrections, as necessary, to those records that display in the Unable to Post report.
6. Click Update/Print to update the records to the General Ledger and print a hard copy of the To Post report.

When posting Liability Transfer invoices to the General Ledger, the source of the transactions are ‘APJ’ as they are with other invoices.

The GL distribution for the Liability Transfer invoices are determined from the Liability Transfer invoice.

Debit - The GL Account associated with the Credit Card information in the Vendor Master File for the ‘Transfer Liability From’ Vendor indicated on the invoice.

Transfer Liability From Vendor #20001, GL Account Number 2008

Credit - The GL Account associated with the Credit Card information in the Vendor Master File for the Credit Card Vendor.

Transfer Liability To Vendor #20002, GL Account Number 2009