Is there a way to have a category which does not come under either Income or Expenditure?
I have added two categories called “Collected cheques” and “Uncollected Cheques”, so that I know which cheques have been picked up by suppliers under uncleared payments.
The problem is even if i leave them as uncategorized, they are still appearing under expense. I already have the purchase invoices listed under expense, so i dont want these two be listed twice. Once, the cheque is collected & it clears the bank, & I receive the Purchase invoice number from Supplier, I want to change the category from Collected to Accounts payable, and choose the exact purchase invoice number.
If you have any suggestions of how to do this better please let me know.
I don’t fully understand what you are trying to do, but if you are attempting to have some type of cheque holding account before transferring them to Accounts Payable then you should be using a BS Liability account rather then a P&L account. This way you would be transferring from one BS Liability account to another BS Liability account (accounts payable) and you wont get that double effect on your expenses.
Thanks you were right, this was what I was trying to do, and it worked, so now I dont show it as a loss. However, still facing a small problem. I was wondering why it shows as negative values. Shouldn’t both be positive values? Only then when I change from Cheque collected to accounts payables, it will increase the value of Accounts payable.
I don’t understand why you aren’t using the built-in capabilities for uncleared deposits and payments under Bank Accounts tab. This is exactly what they are for.
I am using the built in capabilties. I use uncleared payments and uncleared deposits. But for a particular uncleared payment for which a PDC cheque was made, I would also like to know whether the cheque was collected from my office or not.
By creating a liability account as a temporary cheque holding account this works just fine for me. However I am curious why the values on this show as negative. Is ther e anything else I should be looking at?
I can’t answer your question about why the numbers appear as negative, because you haven’t explained or shown (with a screen shot) how you enter them. But in general, If you have credited a liablity account, Manager automatically reverses the sign when showing it under a Liabilities heading. (The heading itself says Less). Did you enter anything anywhere as a negative number? Normally, almost all Manager entries are input as positive numbers, with necessary reversals occurring automatically based on where they are entered. But, for example, if you use a Spend Money transaction, Manager expects the account you select to be debited, because the bank or cash account is being credited. If you violate that convention, you’ll have to reverse signs.
@thauseef - The reason they are negative is because they are payments. When you put invoices into Accounts Payable they are positives, so the payments must be negative - to cancel out the invoice.
Because that relates to activity at the bank. @thauseef has the uncollected/collected cheques accounts as it relates to activity at the office - has the cheque been picked up or not.
@thauseef - if you want to display the Net position of the Accounts Payable, you could create a BS group.
