@Sarika, in the latest version you can create missing delivery notes easier.
Go to Customer tab, then have a look at the column Qty to deliver.
This is count of items to be delivered by customer. When you click on the figure, you will see list of items to be delivered for that single customer.
There is new button New Delivery Note. When you click it, Manager will take you to new delivery note auto-populating customer name and list of all undelivered items with quantities. You might just save that delivery note as it is or adjust the quantities (or remove items) which truly haven’t been delivered yet.
When you save delivery note, it will decrease qty to deliver for that customer so it will represent true figure.
You need to create one delivery note like this for each customer where their Qty to deliver figure is wrong. Once Qty to deliver figures are correct under Customers tab, go to Inventory Items tab and you will see the figures will also represent reality there.
Why not use the same solution as used for cash sales / purchases. If you have multi-locations and the Goods Receipts and/or Delivery Note tabs aren’t activated then the below appears. Then there is consistency in process.
The latest version (17.6.51) has Location field on sales invoices and credit notes if delivery notes are disabled and on purchase invoices and debit notes if goods receipts disabled. I’ve also added location field to inventory item starting balance setup so nothing should ever be in Unspecified location from now on.
I don’t think that is quite correct. If a business has been using Manager under one location and then opens a second location they need to go to Settings - Inventory Locations and create two locations, while all existing inventory ends up under “Unspecified Location”.
I think to resolve this:
change the terminology “Unspecified Location” to “Original/First/Initial Location”, and
by default have the “Original/First Location” auto listed under Setting - Inventory Locations.
This means for the user:
a) that they can edit the name of the original/first/initial location, and
b) when creating a second location, they only need to add one location to give them two locations.
This would mean that as soon as the Inventory Items tab is activated, Setting - Inventory Locations would have one location (original/first/initial) automatically listed, which would match the business’s existing single location.
This along with the other recent Inventory Items tab enhancements would top off this module’s maturity in development. Having the back order column back would be perfection but I am not going to push that envelope - today .
Hi, i was away a while, and see now the version is 17.6.55. the inventory tab is back in old style with only the ‘qty’ field and purchase, sale price and average cost. so all changes we discussed on qty in transit, qty owned, available qty - are gone off permanently?
i would say this is good but should have 1field more better as ‘Qty to Receive’. this qty is new purchase order placed and expected to receive.
Currently, purchase orders and sales orders don’t have any impact on an inventory item quantity.
However there has been discussion that this could (?) be included in the future but nothing definite.
I am confused here. Could you please help me out here.
The problem arises when goods were received, before the purchase invoice did arrive.
Goods were entered into the system by tab [Goods receipts], but how do I administrate the liability towards the supplier?
By accepting the goods I do have the ownership, and I will sell these goods.
Of course, I will therefore also have to administrate the fact that I have a liability towards the supplier.
In the journal entry way it would look like this:
Upon receiving goods:
3000 Stock Debit
2100 Invoices to receive Credit
When invoice is received from supplier:
2100 Invoices to receive Debit
1300 Creditors Credit
Looking at the picture [Qty owned] is used to representate the total cost of the stock.
However, because of the fact that I am waiting for an invoice from the supplier for 45 pieces, my [Qty owned] and therefore my Stock in the Balance Sheet is set to 0. And I wonder if my accountant will agree on that.
Do you understand my problem, or do I overlook something?
Btw, receiving goods before receiving invoices happens very often in Holland, and I may say in other European countries.
While I understand your technical point - the Goods Receipt is Manager is being used to illustrate quantity status, not financial status. Just because you have received the inventory you don’t have the liability for it until the Supplier sends you a Purchase Invoice - this is when the Supplier is saying to you, you now owe me for the Inventory. Prior to that the Goods Receipt indicates the inventory is on consignment to you but not yet purchased - once you purchase you own
I assume the best workflow cq. solution for my situation, and maybe others, is:
Always start a stock purchase with a purchase order.
The purchase order is the basis for making the Goods Receipt and the Purchase Invoice.
When the goods are taken into stock a Goods Receipt is being made, as well as the Purchase Invoice. (Thanks to Manager this can be done with a simple click).
Purchase Invoice does not get an invoice number simply because there is none…
All articles on Purchase Invoice do not have VAT, otherwise the TAX reports are wrong and of no use.
When purchase invoice is received from supplier, the corresponding purchase invoice which is already in the system should be altered.
Change date to the date of purchase invoice received from supplier
Input of invoice number (was empty eg. not known)
Change VAT
Change quantities and prices to the received purchase invoice.
Note: Purchase invoices with no invoicenumber should not be paid!
After implementing this workflow the [Inventory items] looks like this:
And that is more like it.
If purchase invoice is being sent before goods were received, purchase invoice can be entered into the system based on the purchase order.
Well let’s see how this works out in practice. Any comment is welcome.
I don’t quite agree with this. You should enter purchase invoice only when you actually receive a purchase invoice.
If you receive goods without invoice, then Qty on hand increases and Qty to receive decreases (possibly going to negative). Why is this a problem? It reflects reality.
From their first post they were assuming that a liability to pay arose on the receipt of the goods.
If you like, they would take up an “un-invoiced liability” until the actual Purchase Invoice was processed, then the “un-invoiced liability” would get transferred to Accounts Payable.
Yes, on a quantity basis, but on a financial basis it good be argued that taking possession of the goods also creates a “pending liability” which becomes an actual liability on processing the Purchase Invoice. The question is - should “pending liabilities” be recognised within the accounts ?. My answer would be that this is only really applicable at a year end balance date where accruals can be utilised to take up any required adjustments.
Such that the actual stocktake matches the financial Inventory, where Purchase Invoices haven’t been received.
As stated by @lubos this would be totally wrong, if there is a justification (see below) for financial recognition then an accrual journal should be used.
What you are noting is “timing differences”, but these aren’t material until you need to reconcile to a point in time. If the Goods Receipts and Purchase Invoices are both processed within the one month then your accountant would have little concern as the end of month would be correct.
If however the timing difference is over a month end or more particularly a year end - then the point you noted is relevant and an accountant would expect an appropriate accrual adjustment.
Very true. My “solution” is far beyond optimal. On the other hand it may appear that I do have numbers in [Qty on hand], but no amount of stock because I still have to receive an invoice from a supplier. Which is not right to my opinion.
See image at line [-45] [10] [0].
Quite right.
So here is another approach based on the fact that there will be a situation where I have to make an appropriate accrual adjustment at the end of a certain financial period.
Export the inventory items list to a spreadsheet program
Make a new column which consists of [Qty on hand] * [Purchase prise], or if known [Average cost]. I think [Average cost] would be better but is not always in the listing.
Sum the details of that new column and use that total minus the total of the existing [Total Cost] to make the accrual adjustment.
If the stock is to be checked, I will use the quantities in the column [Qty. on hand].
This is why Manager can track physical quantities and accounting quantity. From accounting of view, you have no stock. From management point of view, you have stock as indicated under Qty on hand column.
In Manager, I just don’t see need to make up purchase invoices. Have you used other accounting system before? The reason why I’m asking is because most accounting systems won’t let you have negative quantities from accounting point of view, they literally force you to feed the system dummy invoices. That’s wrong and you don’t have to do it in Manager.
Hi @lubos
Unfortunately we have a huge data base of Customer and its gonna be an added workload to individually select each and every Customer and generate Delivery Notes which are previous years data as well.
All my requirement with the current update is to have the Inventory In and Out in One Page like the previous interface.
.
