Firstly I just want to say great software! I’ve been using it for a couple of days now and it’s really slick and easy to use.
I’m having trouble with the expense claims as I’m not fully understanding it and can’t do exactly as I’d like.
My main query is to do with the credit account selection at the top of the page, I don’t quite grasp the use for it and if I leave it blank it adds the funds to my suspense and therefore changes my net loss and makes it inaccurate.
Secondly, is there any way of linking my expense claims with my bank account? Some of my expenses have just come straight out my personal account and I’m not reimbursing myself through the business but for others I am. Therefore, to keep my bank account accurate, I’m having to separately insert a payment to my personal account. However, the money is then coming out twice (once in my bank account and once in the expenses section from when I entered the expense claim.)
Expense claims module is not quite finished yet. Credit account field will go away and will be replaced with something more obvious.
Regarding the second issue, no expense is to be recorded twice in Manager (or in any other accounting system). Bank account tabs should only contain your business bank accounts (and expenses paid from business bank accounts). If you incur business expense that is coming from your personal bank account/credit card/cash on hand etc. it needs to be recorded under Expense claims.
You are no supposed to create personal bank account under Bank Accounts tab.
I shall just wait for the credit account field to change!
Yes I only have my business bank account on the system and I want to record all my expense claims under the expense claims tab (which I have done). However, because I want my business bank account to be financially accurate, I need to show a record of a transfer of the money out of this. But I can’t do this without causing the double expense issue. I want to invoice my business account for the funds I’ve paid personally, but I’d rather this record went under expense claims instead of purchase invoices which I see as my only option to avoid a double entry.