I have entered purchase invoices of supplier and in summary i am seeing 2 account payable entries one is negative and one is positive.
i dont understand why? please help
I have entered purchase invoices of supplier and in summary i am seeing 2 account payable entries one is negative and one is positive.
i dont understand why? please help
Did you create another account payable in the manager ?
The one from manager should be accounts payable.
NO i created only one cash account rest i am using default manager accounts
Could you click the account payable one ? I wonder what transaction inside of it.
Thanks dear Yes you are right there is any other account payable. How can i delete it or how can i remove these transactions from this account
But when i am making purchase invoice this default account payable is not coming in the pull down menue
First of all you need to create the supplier for that invoice.
Secondly you put purchase invoice and its either the invoice buying items or expenses.
My guessing is you’re created or someone else was creating the Account Payable and using either journal entry or spend money from the bank module against it to do the transaction.
You need to edit all the transaction inside the Account Payable.
Account payable
account was manually created in your Chart of Accounts
. In Manager, it is impossible to make Accounts payable
control account to go into debit.
Can you show the screenshot how do you create purchase invoice? I suspect you are using this custom liability account when categorizing line items on purchase invoice. That would explain why this custom account has debit balance.
Please help me how can i record my purchase when accounts payable is not coming in dropdown
Now i have deleted the manual made account payable account but still when i am trying to generate purchase invoice default account payable account is not apearing. please help where to record these purchases
@toijaz, what transaction that you’re trying to make ? buying a new inventory or expenses or asset ?
buying new inventory
It doesn’t appear because it would make no sense in the given context.
In double-entry accounting, when recording credit purchase, you will credit Accounts payable
and debit some expense or asset account.
When recording purchase invoice in Manager, the program will automatically credit Accounts payable
for you. All you have to do is to select debit account(s). For example, if recording telephone bill, you’d select Telephone
expense account. If buying inventory, you’d select Inventory on hand
asset account etc.
Thanks @lubos you are my boss. so all credit purchasing will go to asset account than what will go in liability or it not been used in double entry accounting.
You are buying new inventory. So you use inventory on hand for the account. This will allocate the amount to inventory on hand and the program will take care of allocating to account payable.
When buying and selling inventory
Purchase invoice - select inventory on hand
Sales invoice - select inventory sales