Known issue: Charitable Funds can be setup with P&L codes

We've resolved the issue where Charitable Funds can be setup with P&L codes in Sage 50 Accounts.

When you create a Fund record this should be within the Capital & Reserves area on the Balance Sheet.

However, it's possible to create a Fund record using a Profit & Loss nominal code without any warning being given. For example, 4010.

This means when the year end is ran, any balance on the Fund record clears down to the retained P&L code on the Balance Sheet, rather than the balance on the Fund record being carried forward into the new financial year. This can also show on a Brought forward Trial Balance report.

This can occur in v27 and above.

 NOTE:  This issue is resolved in v32.1 and above of Sage 50 Accounts. If you aren't using the latest version upgrade now.

As a workaround you can:

• Create a fund with the correct nominal code and post a fund transfer prior to completing the year end routine