If the invoicing system we use is external to the accounting system, what is the best way to ensure reports accurately reflect accrual standing (ie. Accounts Payable and Accounts Receivable considered).
Would it be best to do an adjustment entry at the end of the reporting period in the journal to the accounts receivable and accounts payable?
You would need to enter periodical journal entries. If you don’t know how to do these journal entries (you don’t really know what to debit/credit and how much), I’m afraid the easiest way is to create invoices in Manager and at the same time in external invoicing system.
Why are you using external accounts receivable system anyway? What is Manager missing?
We’re still trialling manager before we move to it… as we’re a bit sick of forking out $70 per entity, per month for our various companies with XERO.
We have a billing system which links in with a credit card processor and automatically debits cards through Stripe. Whilst the Manager system could probably used if it was developed to this extent I still don’t think the extent of development would be necessary to the vast amount of users.
The system also handles automated reminder/overdue emails.
Anymore info you could provide on the periodic entries or should I just speak with the accountant.