Moving Open Payables to Long Term Liability

[paygirl123]

One of our vendors renogotiated some of our open payables. We want several invoices on the open payables moved to appear as a Long Term Liability. (so they are not longer open ages payables)

Is this possible?

 

[VictoriaYudin]

It sounds like you want to take this out of the Accounts Payables subledger. If that's the case, you can enter a payables credit memo for the vendor and apply it to the open invoice(s). The credit distribution for the credit memo would be your GL account for Long Term Liability.

The only drawback to this is that you will lose the detail of what invoice(s) you owe the vendor, but it sounds like you do not need this.

Victoria Yudin
Dynamics GP MVP 2005 - 2009
Flexible Solutions - home of GP Reports

http://www.flex-solutions.com/gpreports.html

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http://victoriayudin.com