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I am new to accounting and bookkeeping and I am working for a plumbing company. There was no previous LOC account on my Sage program. So I created a bank account in current liabilities if that is correct? We transferred money from the LOC account to…

The bookkeeper before me has the line of credit account set up as a cash account. So I am unable to record payments on it and account for it correctly. Sage will not let me simply change the account type to a liability. It is only giving me asset options…