These are some of the accounting related features found within KashFlow that don’t neatly fit into the other sections listed above. The software supports a number of different VAT schemes such as; Standard VAT, Cash Accounting and the Flat Rate Scheme. If you’re a contractor or sub-contractor, KashFlow also works in conjunction with CIS.
The software includes an Asset Register with options for automatic depreciation (straight line and reducing balance).
You can post journal entries, set up journal templates and reversing journals.
Departmental accounting is enabled by the use of “Projects” (which can be renamed to anything you like). You can then run financial reports (P&L, Nominal Ledger, etc) based on just a specific department/project as well as on all data.
The software supports Standard VAT, the Flat Rate Scheme, Cash Accounting (as well as Cash FRS) and EC Sales Lists. Vat Returns and EC Sales lists can be filed directly to HMRC from within the software.
The software includes support for CIS from both a contractors and sub-contractors perspective. Deductions are handled and reports are produced.
Unlike many other products, you can drill down from financial reports to get to the underlying transactions.