rvirga wrote the following post on 4/13/2006 7:11:58 PM
I presume you are going from a cash based system to an accrual based system. If this is the case then you need to debit the expense accounts related to the AP and then of course you would credit AP. In a cash based system the expense account would not be debited until the invoice is acctually paid.
This is the basic accounting approach, if there is something special to do in Peachtree then maybe someone else can jump in and help.
-Robert