I load both my personal bank account and my business bank account into Manager, because sometimes there are transactions in my personal account that were business related (and also just because I can easily keep track of my budget etc as I am just myself in my business)
What I would like to do is to assign all transactions from my personal account to “Drawings” which is the equity account I set up. I have tried to create a bank rule and I’ve also tried to make a form default, but when I import the bank statement it does not pick it up, if I can put it that way, and just shows all the transactions as “suspense”.
So basically I want the following: If bank account is “X Bank” and amount is “any amount” (description will stay empty and payee will stay empty) then allocate to Account - Drawings.
What you intend would have no basis in accounting principles. Transactions in your personal account are not drawings unless they are deposits of payments from your business account. In that case, they would be picked up by importing your business account statement.
It is terrible practice to mix personal and business accounting records.
There are transactions in my personal account that are business related. I do not wish to put them in one by one, so it’s easier importing bank statements. I have an accountant who does my books in her own software. Using Manager is just an easy way for me to share my information with her (I can share reports with her etc). So, again my question is if I just want her to be able to see the difference between what was business and what was personal, how can I do it in the way that I asked? You can basically see it in such a way that my business has two bank accounts. I am not intending to mix business with personal. I am basically just personal.
@Luigia, how about instead of trying to make a mega bank rule, why not use Find & recode feature of Receipts and Payments to specifically select those transaction you want to keep in drawings and Bulk update them accordingly?
@Luigia, I will quit this discussion. Manager is an accounting program, but what you are trying to use it for is not accounting. It is unrealistic of you to ask for help to make the program do something for which it was never intended. I won’t waste my time.
@Luigia In manager you will need bank rules to select all your business transactions. After which all transactions could be assigned to personal accounts below the taxable income subtotal (or owners drawings).
Not sure how best to do the later in Manger, find & recode is worth a try.
@Luigia if it suits you to include your personal bank account in the business instead of creating another business for your personal budgeting or using Expense Claims to enter the odd business expense from your personal account then your only option is to create bank rules for all your personal expenditure. This will include your supermarket, petrol station, cafe, bakery, butcher, etc. After a while most of your personal expenses will be covered by bank rules allocating them to drawings.
Thank you for the constructive feedback Patch! I think once my clients have gotten used to paying into my new business account, I will split the two and create a new business on Manager for my personal transactions. It’s going to take a month or two of extra work, but hopefully after that much easier.
Hi Tony! Thank you for your positive and constructive feedback. I used to do things the way you mentioned and it worked quite well, but like Patch also mentioned, creates extra work. I think once my clients have gotten used to paying into my new business account, I will split the two and create a new business on Manager for my personal transactions. It’s going to take a month or two of extra work, but hopefully after that much easier.
I have one more question regarding my previous inquiry. Following your advice, I decided to split my two “businesses” into separate entities. I now have two distinct accounts for Personal and Business purposes in Manager. Everything is correct up until February 28, 2025, and I started the Personal account on March 1, 2025.
Here’s my question: The bank account previously used for my business is now my Main account, which became my personal account on March 1. To address this, I’ve kept the account under my Business account and marked it as inactive starting March 1. However, this account still appears in my balance sheet, reflecting the closing balance from February 28. Obviously I cannot delete the bank account since it contains years of transaction history.
How can I show that the balance should no longer be considered an asset from March 1, 2025, onwards?