Apologies for asking maybe a stupid question Is there a way to create a new company using assets Liabilities and Equity from an existing company.
Basically, we would like to keep Assets, Liabilities and Equity but Zero bank accounts and start afresh with new year.
Any help would be greatly appreciated
Jim
Backup the existing company, use the backup to set up the new business then delete the transactions transferred from the existing business.
@JFinis1, hopefully you are not beginning a new set of accounts for an ongoing business. Manager is a perpetual system and requires no account closure at the end of a period.
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@JFinis1
Please take a look at www2.manager.io/guides/7470 & www.manager.io/guides/summary-form
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Kindly let the forum know which option did you implement.
Thank you to All the suggestions I’ve been busy this weekend I’ll try the options suggested and let you know which one I’ve implemented.
Regards
Jim
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Hi Tut, thank you and others for the replies, I’m guessing I may have asked the incorrect question.
We run a sporting club which is a not-for-profit organisation, what is the way to reconcile our operating account, with the actual bank account totals, there also a separate investment account that has not been updated for a number of years, how can we update/reconcile to the actual investment account. I’m not an accountant but we have the books audited by external auditor.
I apologise for asking Dum questions. I’ve been asked to find out how we can update/reconcile the bank totals with the bank and cash accounts in manager.
You have to enter the bank transactions from your bank account statement into Manager as payments and receipts
Once you have done that, you can reconcile the bank balance in Manager with the balance on the Bank Statement
You will have to find what lodgements and withdrawals were mage from the Investment Account. What kind of Investment account is it?
You need to provide more details about how the club operates its finances to get more detailed help
Also the heading on your topic is a bit unrelated to your questions
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Thank you for the feedback, I’ve never been able to import bank transactions into Manager because reconciliation has always been done manually.
Are you able to advise the format for the file from the Bank, formats they use are Simple.csv, Extended.csv, Microsoft Money (OFC), Quicken (QIF), Classic Quicken (QIF) and BAI2.
If possible, an example would be very helpful. Again, I do apologise for the stupid questions I ask.