When i issue an invoice and after a few days this invoice is paid, although i make a new receipt with this payment related to this invoice, in the reports PROFIT LOSS the amount of the invoice is not included in the profit
Your kind advice please
Normally, using accrual accounting, the income from the sale is included in the Profit & Loss account when the invoice is created.
Using Cash basis, the income is reported when the payment is received.
What basis are you using?
Read the guide which helps explain the difference and will help you choose which is the best suited to your business
i have tried both accrual & cash
This is the Guide: Choose between accrual or cash basis accounting | Manager.
You need to illustrate further with screen shots. Drill down from the Summary page by clicking the income account balance to see what makes it up. Also post a screen shot of the Edit screen of the receipt you say is not showing up.
You also need to make sure the Profit and Loss Statement is defined to include the date of this invoice.
Your problem is that your sales invoice does not assign the line items to any income account. Therefore, your sales invoice is sitting in the Suspense account. Read the Guides about creating sales invoices and clearing the Suspense account.
When i create the invoice and assign it in Accounts receivable ACCOUNT the SALES INVOICES shows this invoice as paid in full and invoice total as $0.00
Accounts receivable is the control account for your customers. you should not select this account as a line item in your sales invoice. you should select an income account.
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when i create an Sales invoice and assign as sales (in the Account) Field
in the sales invoices seems ok
![Screenshot 2020-07-04 at 15.14.44|690x164]
(upload://d48eE3Sv3QBmGGJbWO7OzlDC6V8.png)
but when i create the receipt and assign it in sales
the balance due remains the same
but the good thing is that the amount is added as profit in the report
When i assign the receipt as accounts receivable
the amount is not as balance due
but the amount IS NOT added as profit
i had instructed regarding sales invoice only. the receipt you had entered was already correct. if you select sales as a line item in the receipt, it will be recorded as another cash sale.
it would be better if you read the guides and understand the program completely with a test business before proceeding to enter transactions in Manager for your live business.
this might be related to a recently identified bug which would be fixed.
hence as i can understand the invoice should be assigned as sales income and the relevant receipt should be assigned as accounts receivable
Please correct me if i’m wrong
thank you for your replies and assistance
in your scenario, yes.
issue resolved after removing and reinstalling latest version
thank you for your assistance