Good morning
I have just started preparing the accounts for a new partnership client who uses Kashflow, year end procedure was not run last year and now when I try and produce a trial balance for the second year it does not agree with the balance sheet. Kashlow support tell me that I should not use the dates for the year I am reporting on but run the reports from day one, this however also seems to give incorrect balances on the balance sheet. The trial balance does not show profit and loss account or capital account. The responses from the support desk have not been very helpful and there is no telephone support. Has anybody else come across this problem or is it the way my client has set up their software? Any advice greatly appreciated.
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Movement only
Having just looked at a client using Kashflow for the first time recently, the TB report you are getting is showing movement for the year only. Theoretically a report from day one should agree, but it appears Kashflow allows you to enter a bank balance on its own when you start (i.e. Just the balance, not a double-entry). Any opening bank balance entered in this way does not form part of the TB, because it is not in the nominal ledger, so you will never get these figures to agree.