General Ledger liability

If you use Lawson's General Ledger (GL) application, you can track GL liabilities for absence time. A GL liability records the amount of absence time owed to employees in terms of a monetary liability or debt. When you define GL liability rules, you determine:

• The liability type, which establishes what employee plan balances are posted to the general ledger.

• The liability method, which establishes how employee plan amounts will be posted to the general ledger. Amounts can either be posted in reversing (entire balance) or non-reversing (incremental by transaction) methods.

• Whether the entire balance or only a portion of it is posted as a liability.

• Whether a liability is also posted to Project Accounting (AC).

In addition, when you define GL liability rules, you determine what general ledger accrual and expense accounts you will use.