Hi,
I have deposited cash into the business account but not sure how to treat this transaction.
After reading from the forum, I thought a journal entry was the right way instead of a receipt.
But on the journal entry, it’s not showing me a cash account.
On the screenshot below, I can only select cash at bank but not any other cash account.
Can you please help me?
Thank you.
When I created new business there was nothing under bank and cash accounts.
Then I created cash at bank and cash in hand account.
So now when I select under account, no cash account is showing.
Please help
If cash is deposited after you started using manager then Receipt is the correct option. No need for Journal Entry. Make a receipt, “Received in” (The bank account in which you deposited the cash) and select Capital Account on line of receipt just like you did on second line of Journal Entry
However if Cash is introduced in business account before you started entering your data into Manager then Yes Journal Entry is right option for entering starting/opening balances.
I am reading from here - https://www2.manager.io/manager.pdf
and I read the bank and cash accounts.
I still have to finish the book.
Actually, I started the business with cash in hand because bank delayed to open company bank account so I did around 100 transactions from cash in hand and start recording in Manager.
But the company bank account is active now and I have deposited some money as an initial investment.
So you think receipt will work in this case?
Yes, absolutely. The business has received money after beginning to use Manager. Starting balances, and the journal entries now used to enter them, are only for situations where you are migrating from a prior accounting system.
