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    mleechamb's Avatar
    mleechamb Posts: 2, Reputation: 1
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    #1

    Oct 1, 2007, 01:08 PM
    Beginning balances
    How can I get rid of the beginning balance in accounts payables? Everything was expensed during the year.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    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?
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