Default Deferred Liability General Ledger Account # (C63)

Purpose: Use this screen to define the default General Ledger number to which you post Deferred Liability.

Number field: Enter the General Ledger account number to which Deferred Liability posts for a prepaid order.

General Ledger account numbers are defined in and validated against the General Ledger Account table.

Deferred liability is cash paid by a customer before an actual order is shipped. You must post this cash to a default deferred liability account until the order is fulfilled (shipped).

When a prepaid order is fulfilled, the system:

• relieves the deferred liability account

• posts cash to the customer's account to whom you are shipping merchandise

The deferred liability account is empty when there are no orders waiting to be shipped.

For more information:

• See Working with G/L Accounts (WGLA) for information on General Ledger account numbers

• See Working with Cash Receipts (WCRT) for information on posting deferred liability