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Phoenix - User Help

Navigation: Financial > Configuring Financials > Setting Up Accounts

Set Up Asset and Liability Accounts

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Asset and Liability accounts work to an annual period and each account can have an unlimited number of sub-accounts. Asset and Liability accounts can be used for items like:

Plant - sub-accounts for individual items of plant.

Property - sub-accounts for individual items of property.

Leave and other employment liabilities.

Equity in industry funds.

Asset and Liability accounts allow an opening balance to be entered for the period that the account was opened.  

 

 

 

 

See also Terms & Concepts

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