Kashflow question

[sheelagh]

I am farly new to Kashflow. I recently encountered a situation in which the P&L suddenly indicated a huge loss. I found that the TYPE setting on one of the sales accounts had been changed from TURNOVER to COST OF SALES and the balance was now shown as a cost item.
If this happened in Sage, the sales account would have a CREDIT balance and would therefore show as a negative cost in the P&L, thus the net profit figure would not change.
Am I right in thinking that Kashflow does not record credits and debits in the same way as a traditional bookkeeping package and relies more on the TYPE setting?

[DuaneJackson]

Hi Sheelagh,

When generating P&L or Balance Sheets, the system doesn't take into account whether the code is set up in Sales, Purchases, etc.

All it looks at to determine where on the P&L/ BS the balance should appear is whether it's set as Turnover, Expense, CoS, etc.

I pay a lot of money to have staff available 24/7 to answer questions like this, so feel free to make them work for their money by emailing support@kashflow.com with any other questions. You'd get a quicker response than you would do from a forum posting too.