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Replying to:
laurakan
Level 3

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Edit - the posted solution does not work. See revised post below.

 

 

I have a similar question to  @Jawad Kayani 's, but NOT for payroll. Instead it's for the question in the OP.

 

The posted solution doubles the expense in the P&L, as it is debited twice if we both create a bill and add the j/e for the accrual:

 

Bill:

debit XYZ Expense

credit Accounts Payable

 

j/e:

debit XYZ Expense

credit Accrued Liability Payable

 

My client wants the expense to show up when we pull up the vendor screen (thus the bill, since j/e don't show up under the vendor even if the vendor is added in the Name field) and P&L but also wants to show the accrued liability on the balance sheet. Is this possible without doubling the expense?

 

If it's relevant, we are not paying these expenses in the next month. The expense is accruing indefinitely. Thanks.

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