Forum Discussion

SMM's avatar
SMM
Experienced Cover User
2 years ago

Entering Workers compenstion premium liability when paying via instalments

Hi 

We are paying our WC policy via monthly instalments this year. We entered a purchase an posted to a newly created liability account. The amount owing now appears in the balance sheet as a negtive amount, ie an asset.

What's the best of of recording this liability please?

Thanks

S

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