Manager does not allow to allocate entries of receipt and withdrawals made from Bank Account using import function of bank entries. The only way to input transfer between cash and bank accounts is inter transfer function. I suggest it should be allowed to allocate cash deposit and withdrawal as a normal payment and receipt.
Secondly, There should be detailed depreciation inputs available with at least following things, Purchase Date, Depriciation Rate, Effective Life to enable manager to calculate accumulated depriciation automatically.
Thirdly, Only {{reference}} variable is given to send an email in setting up email template . There should be more such as Name, amount etc.
At last, At every report function we have to put in the dates from and to manually, instead it would be more easier if one can add default periods for all the report or can choose from drop-down box ?
Also, from 01 July 2019, ATO is going to make Simple Touch Payroll mandatory, so it would be quite a beneficial if STP is included in this software.
Moreover, Payroll function is lacking to generate PAYG(group certificate function).
This is a great software can deliver a lot more with some improvements.
I appreciate your hard work and hope future updates will bring more for the community.
Yes it does. When you import a bank statement, every cleared transaction in the bank account is included. Why do you think they are not?
Not true. You could also make separate receipt and payment transactions in the two separate accounts. But inter account transfers combine two transactions into one and are much faster and less prone to errors.
You can already do this. You just have to designate a cash account for the transactions.
All your other suggestions can either already be done or have been discussed extensively on the forum. Please search before posting new suggestions.
And please, in the future, limit your posts to one topic. When you include multiple subjects, they get less attention.
Yes it does import cash transcations but for instance.
If i have deposited $100 in bank and the same entry is imported through import of bank statement.
I am unable to allocate directly from the uncategorised entry to CASH Account. Meaning I can not have bank rules allowing to allocate cash deposits and withdrawals to cash account.
The only way transfer between cash and bank account is allowed is through inter account transfers or journal vouchers.
Using Payment and Receipt option,
If you are Debiting cash account, you can not have credit account as bank or other cash account.
Whether you deposit cash or a cheque into a bank account, it is a bank transaction. Therefore, it will be imported with a bank statement. You cannot allocate it during import to a cash account because you did not deposit it in a cash account, but to a bank account.
An inter account transfer from a bank account to a cash account records your physical withdrawal of cash from the bank, placing it into a cash account, such as a cash register, lockbox, or till.
If you do this with payments and receipts, it would be the equivalent of crediting the bank account and debiting a temporary transfer account (that’s the withdrawal or payment), then debiting the cash account and crediting the transfer account (that’s the deposit or receipt).
Read this explaining extract from a previous topic which has been updated to suit Manager changes:
You have two choices, (1) the simplest being, if you have used the Inter Account Transfer for the transaction then delete the imported bank account entry, or, (2) if you want to use the imported statement entry then you need to process the Bank Rule via a clearing account. For the Cash Account part you will still need to process the transaction as there is no statement to import.
Bank/Cash Transfers are two separate accountings transactions not a single transaction.
1.Bank: New Payment- Credit Bank and Debit ???
2.Cash: New Receipt - Debit Cash and Credit ???
The Inter Account Transfer feature in Manager allows you to truncate that to a single entry - Credit Bank Debit Cash
However, when importing bank statements and using Bank Rules, the processing of two transactions is still required because (rightfully) Manager’s Bank Rules prevents any allocation directly to other Bank/Cash accounts otherwise you would have duplicate transactions as demonstrated below.
If you substituted the above ??? for the opposing Bank/Cash account you would now have:
1.Bank: New Payment - Credit Bank and Debit Cash
2.Cash: New Receipt - Debit Cash and Credit Bank
The Bank account now has two credit entries and the Cash account now has two debit entries - hence the duplication. So to use Import Bank Statement you just need in the Bank Rule to post the opposing debit/credit entry to a clearing account, where the contra from the Cash on hand transaction will cancel themselves out.
1.Bank: New Payment - Credit Bank and Debit Clearing Account
2.Cash: New Receipt - Debit Cash and Credit Clearing Account
The Clearing Account can be created as either a Current Asset or Current Liability