Overview
Castaway gives you full flexibility to design your chart of accounts at any point in your build process. The structure you apply flows directly through to how your P&L and Balance Sheet reports are presented, allowing sections and sub-sections to be expanded for detail or collapsed to totals. To begin managing your chart of accounts, navigate to Forecast > Element Settings.
Adding Sections and Sub-sections
The default chart of accounts includes sections for Sales, Direct Costs, Overheads and others. Elements can be added directly into any of these sections. For additional structure you can add:
- Sections - top-level groupings within a section type
- Sub-sections - create sub-totals within a section in the P&L report
- Sub-subsections - create sub-subtotals within a sub-section in the P&L report
To add a Section, hover over the coloured line beneath the last element in an existing section, click the + icon and select New Section.
To add a Sub-section, follow the same steps and select New Sub-section instead.
To add a Sub-subsection, hover over the grey line beneath a sub-section, click the + icon and select New Sub-section.
Sections and sub-sections can only be added to the following section types:
- Sales (not Other Income)
- Direct Costs (not Other Expense)
- Overheads
- Other Assets/Liabilities
- Capital (sub-sections only)
- Driver Section (sub-sections only)
Reordering Sections and Sub-sections
To reorder a section or sub-section, left-click to select it and drag it to the new position. A blue line will appear to indicate where it will be placed - release to drop it into position.
Renaming and Deleting Elements
Right-click on any element to access the options to rename or delete it.
Reordering Elements
To reorder an element, click to select it and drag it to the new position. A green line will appear to indicate where it will be placed - release to drop it into position.
To move multiple elements at once:
- Hold Ctrl and click to select multiple individual elements
- Hold Shift and click to select a range of elements
Once selected, drag the group to the desired position.
Refining Reporting at the Element Level
Once your chart of accounts structure is in place, individual element settings can be adjusted to further refine how specific elements are reported. For example, Sales and Cost elements can be configured to report their debtors and creditors balances separately on the balance sheet. Refer to Element Settings and CoA Decisions
If you need any assistance please contact our support team at: support@castawayforecasting.com