VT Cashbook etc for Retail Sales

[hotel-man]

Hi

Im trying to use VT Cash for my retail (hotel and bar) takings.

The income is showing as red on reports and the expenses are showing black - is that correct as it seems strange?

Also, the income is showing with a - negative sign. When I change it to positive, it tells me it should usually be negative.

Any ideas please?

Thanks

 

[Robert Pearce]

If you look at the VT Cash Book user guide (see section 3.2), you'll see that this is normal. One exception should be the profit and loss account report, as this should default to showing income as a positive number and expenses as negative numbers.

 

[hotel-man]

Thanks Robert

Is it also normal for all of my "accounts" (current a/c, petty cash etc) to show up under a "Bank" Account?

I would have thought the heading Bank Account would include however many actual bank accounts I have and then have a "Cash Account" for my actual retail takings; before paying them into the bank.

For a very simple bit of software, Im getting confused by it.

 

[Scalloway]

It is fairly common for cash to be classed as a bank account in accounting software. They both perform the same function. If you make a cash payment it goes to an expense account, if you make a bank payment it goes to an expense account. And likewise for income.