DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Financial periods


#1

Hi
I set up my accounts on Manager mid way through last year, it’s right up to date and then I back dated purchases and invoices to the previous year i.e (06/04/2013 -06/04/2014) if I try and create Profit and Loss reports for this period it only shows one invoice dated 02/04/2014 but it shows all purchase movements for that whole year, is there something I can do ? also my y/e end is coming up soon i.e 05/04/2015 and I want to be able to keep all P&L reports for this current year, will I be able to do that?
Many thanks.


#2

It sounds as though you are now entering transactions prior to commencement of your business in Manager. Enable Opening Balances under Customize Settings. Then change the date to something before your earliest transaction.

Also remember you can customize any report for a denied start and stop date. You can also customize the dates of the Summary.


#3

Thanks , I have changed the opening balance to 01/04/2013 as you suggest ( my tax year starts 06/04/2013) but the profit and loss reports still won’t show any income sales prior to the next tax year ?
Thanks.


#4

The dates of the reports must match the period for which you want to show information. Did you edit the dates of the reports? If you don’t want to give up the information presented in the reports you have already created, simply add a new report and you will have both.

Does that solve the problem? (You didn’t give much information about what you did with the P&L, if anything.)


#5

I have P&L monthly reports starting from 06/04/2014 for each month and also one for the whole year (06/04/2014 - 05/04/2015) these all work fine, if I try any of the same dates for the previous year they all exclude sales, should I be doing something else in reports?
Thanks once again.


#6

It sounds like your trouble comes from the entries of sales, not reports. Since I don’t know how you have set up your chart of accounts, I can only speculate about what the problem might be. Here are some thoughts:

  1. If the income was recognized via sales invoices, double-check dates on all those invoices. Make sure you did not accidentally enter the current year.

  2. If income was recognized in a cash or bank account via Receive Money, verify all those dates, too.

  3. If you issued sales invoices, make sure the resulting payment was allocated to Accounts Receivable and the appropriate customer sub-account.

  4. Check whether there is anything in your Suspense account. If so, click on the blue account balance in Summary and check to see what went wrong on those transactions. If you are making entries correctly, there will never be a balance in Suspense. If there is, debits and credits are out of balance somewhere.

  5. Make sure every sales invoice has a customer selected. This must be a customer defined under the Customers tab. Of course, that means the Customers tab must be enabled. It doesn’t sound like this would be your problem, though.

Be hopeful. So far, you haven’t said you are trying to do anything Manager shouldn’t handle. I think there is some small mistake you are making that should be easily fixed once we figure out what it is. Good luck.


#7

Eureka !
Suspense was the problem, I went back through everything - thousands & thousands over the past two years and have finally cleared it all, now all the P&L reports etc. work. Yipeeeeee!
I can’t thank you all enough - wherever you are??
Great service. xxxxxxxxxx


#8

Glad I could help, @clanger. I’m interested to know, however, exactly what was wrong. You say Suspense was the problem. But Suspense is never the problem, only the dumping ground for transactions on which problems exist.

BTW, I’m not a staff member, just another user like you trying to return the favors people did for me when I first started using Manager. I happen to be in the USA, but NGSoftware is in Australia.


#9

Hello USA and Australia,
You’re quite right it wasn’t a problem with Suspense but with me, early on I had been creating purchases and sales without allocating departments i.e (Sales for invoices) or (Rent or insurance…. etc for purchases) I hope this makes sense to you.
Many thanks and best wishes.