I purchase wholesale fuel on a weekly basis and sell it on.
Both the purchase price and sale price change with each purchase and/or a weekly basis so the fixed pricing entry in Manager’s inventory does not work for me.
Does anybody have a suggestion how I can manage this?
Those prices are simply shortcuts for entry on purchase and sale transactions. You do not need to fill them in if the prices constantly change. Leave them blank and enter the current prices as you enter purchase or sales invoices.
Hi
Ok, thanks, that answers my question.
I now see how to get the fuel into inventory, I don’t actually get invoiced but I guess I can create an invoice based on the delivery docket and price notice.
I can see I will now also need to manually calculate my sales periodically and enter a sales invoice for it to balance the inventory levels.
If you just pay for the fuel, you can enter it into inventory with a payment rather than a purchase invoice. See https://www.manager.io/guides/7325.
You can also sell inventory with a simple receipt. See https://www.manager.io/guides/7321. Such a receipt could be a summary of many individual sales.
The only time you really need invoices if when you buy or sell on credit.
Thanks again for your help.
I do actually buy and sell on credit as well as immediate payment but I will have a read of the guides that you linked and see if they help me. It is tricky because I am running a bit of a hybrid accounting system with manager and manual ledgers/basic till.
You can do that. But sales on credit require sales invoices. Sales with immediate receipt of payment do not. Note, however, that if you sell via receipts, you lose the ability to track specific customers’ buying history. You can sell on an immediate-receipt basis using a sales invoice, but you must then enter a receipt posted to that sales invoice directly afterwards.
Hi again, sorry for the slow reply.
I understand what you are saying regards to the sales of fuel.
At first I thought that I would use a purchase invoice generated from a delivery docket to get the fuel into inventory which I am sure would work but as I mentioned, when I sell the fuel it is either by credit account invoiced monthly or by immediate cash/card sale. If I understood you correctly I would need to recreate the hard copy credit accounts line by line on a ‘Manager’ invoice and also do the same for till receipts. This can’t be done from a time point of view.
I was hoping to be able to track my fuel inventory in manager but I see now that it is not really setup for that and with my hybrid sales system I can’t practically create an invoice for every cash/card sale.
I’ll stick with an excel worksheet for now and leave fuel out of it.
Thanks for your advice.
There is no reason you cannot enter summary receipts or invoices daily, weekly, or monthly. Many merchants operating point of sale systems do that. The interaction with the customer is quick, and the Manager accounting takes place at a slower pace when time is available.