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When would I add a Long-Term Liability account?

In addition to adding Long-Term Liability accounts to track mortgages, long-term loans, and notes payable, you might add them to track:

  • Bonds payable
  • Lease payments
  • Deferred income tax payments

Liabilities are your company's debts, and long-term liabilities are the debts that will take longer than a year to pay off.

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KB ID# H_COA_INFO_ADD_NEW_ACCOUNT_LONG_TERM_LIABILITY
9/29/2016 11:38:46 AM
QYPPRDQBKSWS08 9138 Pro 2017 dce6b2