Why are my VAT accounts now classed as profit and loss?

[John Ralls]

> On Sep 25, 2015, at 7:33 AM, Mike or Penny Novack <mpnovack at mtdata.com> wrote:
> 
> On 9/25/2015 9:32 AM, andy wrote:
>> Hi,
>> I recently upgraded to version 2.6.7 and my VAT accounts have now started to behave as either income or expense accounts.
>> They appear in the profit and loss sheet and they are automatically included when I try to close the books. They also don't appear on my balance sheet.
>> Is this common? Does anyone know how to fix it
>> 
>> kind regards
> Review the basics of double entry bookkeeping.
> 
> Income and Expense accounts are NOT standing accounts. They are temporary accounts of fundamental type equity. As a result, they do not appear as in the Balance Sheet except as their net total "unrealized gain or loss".  When you do a "close the books" action the balances of all income and expense accounts zeroed out to equity (in the old days, first passing through the special equity account "profit and loss", then that closed to equity).

I think Andy knows that. He’s complaining that since he upgraded to 2.6.7 his VAT suspense accounts, which should be Assets or Liabilities depending on which end of the VAT each deals with, have been converted to Income and Expense.

Andy, just edit the accounts in question and change their types to what they should be. Note that you may need to move them in the hierarchy: Their parentage all the way to the top level must also be of type ASSET or LIABILITY.

Regards,
John Ralls