Hi, have tries to read the tutorial and read the forum but I can’t find a suitable answer to my problems. So please can you help me.
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I set a fixed assets : house that we’ve bought several years ago. The only option I have here is accumulated depreciation.
the problem is that the house value increased years after years. So how can I solve the issue?
thank you.
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I buy and and resell some products let say I ordered 100 pieces of apples. At the same price 1$.
when sorting the apples we can get 20pcs of red appels that I can sell for 1.2$, 20pcs of green apples I can sell for 2$ and so one. How do I manage it with my inventory and purchase invoice?
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Sometimes we pay in advance the supplier and we need to deduct from the goods we receive the amount of money we owe him or he owes us. I know some topics talked about debit and credit notes. I’ve tried many times but can’t get it right sorry. Help. Just started using manager.io for 2 days.
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to show an asset appreciation you need to do the following:
a) under the Balance Sheet Equity section you need to create an account called “House Revaluation” via Settings > Chart of Accounts.
b) create a Journal Entry which Debits the Fixed Asset > House account and Credits the House Revaluation account.
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You can either have one apple inventory item or you can have multiple apple inventory items.
a) so that’s the first thing you need to decide, keep track of all apples together or keep track of different coloured apples.
b) if you keep track of all apples together, then just process the Purchase Invoice as 100 apple inventory items. As you sell them, enter the sales price as required against the one inventory item.
c) if you want to keep track of the different colours then you need to sort out the colour numbers before entering the Purchase Invoice as 20 reds 20 greens etc against their own inventory items. Then you would sell against the applicable inventory item.
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The answer to this depends on the mix of transactions you have with a single supplier. E.G. if you have both straight invoices (no advance) as well as divided invoices (with advance) then you need to manage these differently then with suppliers where you don’t have a mix.
But from your brief description, both debit notes and credit notes aren’t applicable.
Read this Guide which should be more applicable Manager Cloud
@Brucanna thank you very much for your time. Please let say I purchased the house at
USD 100,000 and after 4 year the house value increased, so the new value is USD 300,000.
because when I enter the values, the status is Unbalanced .
could you please help me once again?
Your Journal Entry would look like this:
The House Revaluation account is create under BS > Equity.
@Brucanna thank you very much… You saved me a lot of time and I understand now this part…
