Adding a Liability Account

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You can divide liabilities into short- term and long-term debt.

  • Short-Term Liabilities are also called short-term obligations. They can include payroll taxes that  have been withheld but not  submitted, or offerings received for other organizations that have not been remitted.
  • Long-Term Liabilities are long-term obligations. Your congregation probably has long-term debts such as a mortgage. Long-term debts are also considered liabilities.
  1. Click on the Settings cog and then select “Chart of Accounts.”
  2. Scroll down to the Liabilities section of your Chart of Accounts and then select the “New Account” or “New Category” button.
  3. Enter in your account name and number (if applicable).
  4. Click “Submit” to save your Liability account.
  5. Click “Save Changes” once you have finished editing your entire Chart of Accounts.

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