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Why we have both Lease Liability Account and Short Term Liability Account names in Lease payment

in Lease Accounting 1 comment

Summary: Can you please help us in understanding, why do we have both Lease Liability Account and Short Term Liability Account names in Lease payment template?

Our understanding is that both need to be setup with same GL code combination.

Need to find and clarify the purpose of having them different and what will happen if different GL codes are setup to them.


Content (required): Can you please help us in understanding, why do we have both Lease Liability Account and Short Term Liability Account names in Lease payment template?

Our understanding is that both need to be setup with same GL code combination.

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