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mleechamb
Oct 1, 2007, 01:08 PM
How can I get rid of the beginning balance in accounts payables? Everything was expensed during the year.

CaptainForest
Oct 1, 2007, 10:37 PM
Accounts Payable is a liability account.

You can get rid of the account once you pay the debt off, or if the debt is forgiven/dismissed.

What do you mean by you expensed your payables?