I understand that Manager is a “perpetual” accounting software.
Im not sure how we should correctly record Cash in the Till, at the moment I have the tab Cash Acount enabled, and using that. My question is also, at the begining of a new accounting period the updated Cash in Till is recorded, however that then changes the amount that should appear in the balance sheet of the preceeding accounting period. ie, if cash in till is,say,$500.00 at the end of the financial year then that is recorded.At the end of the next financial year the balance in the Cash in Till is say,$610.00 if one then wants to revisit the previous year the Cash in till shows $610.00 not $500.00 (sorry hope this makes sense)
I have tried to find info about this in the guides and also seached this forum.
cash in hand is your asset which belongs to your business Balance Sheet. it is not part of your Profit & Loss which is applicable for a particular financial year.
if you want to know how much cash you had at any given period, then generate a report for the specific date. this is already available under Reports.
You should not. The balance of your Cash in the Till account is simply the net of all prior additions and subtractions going back to the beginning of the business. If you had a prior accounting system, you would enter the balance carried over to Manager as a starting balance. If you established the cash till after beginning your use of Manager, you would record your initial deposit as a receipt or inter account transfer. Whichever situation applies, there is nothing to do afterwards except count your physical cash to make sure (a) none has gone missing, (b) you did not forget to make an entry, or (c) you did not make an error upon entry. Of course, if you forgot the entry or made an error, you can only hope you still have documentation of the transaction or can remember what happened. That is why frequent cash counts are advisable.
The Balance Sheet always displays the balances at an “as at” date, that is, it is date specific.
If you want the balances for a prior date, then you need to set the “as at” date at that date.
You could “temporally” edit the Summary tab period dates, say ending 31/12/2019 to ending 31/12/2018, or specify the required date under Reports > Balance Sheet