Set Up Liability Accounts for Joint Venture Payables Invoices

Use one of the following methods to set up liability accounts for posting amounts in payables invoices:

• Define a liability account for each supplier at the site level.

  See Creating a Site Assignment for more information.

• Define a liability account for each joint venture.

  Joint venture accountants can define the liability account in the setup of each joint venture definition. See Specify a Liability Account for Joint Venture Payables Invoices for more information.

• Define a liability account using subledger accounting rules.

Important: If there’s a liability account specified in both the supplier site and joint venture definition, the account in the joint venture definition will be used. If you use subledger accounting rules to define the liability account, the account in the subledger accounting rules will override accounts specified elsewhere.