I’m pretty new to Manager but I couldn’t see this answered in other forum posts. If it already has been I apologise.
I used to be using MYOB for my accounting - I have transferred this data to Manager via the Import Statement tool. This worked great, and I see all my transactions perfectly on the Bank Transactions section.
However, when I try to run the General Ledger Transactions report, only the transactions I have entered manually show up (i.e. none of the transactions created via the Import Statement tool show up as individual transactions). In fact, it seems to “roll up” all of these transactions into one line item without any Descriptor.
Is this the way the report was designed to run? Or is there a way I can split the report by transaction as shown in the Bank Transactions section?
Further to what @ShaneAU has said, be sure you’ve read and followed the Guide on importing bank statements completely. It is possible to leave the import only partially complete.
I believe I followed the guide to the letter, finishing with the Bulk Update button (though it was a couple months ago so I can’t be 100%). I did notice in my investigation that transaction dates are showing up in red for the transactions I imported. These items also state $0 as the Amount, however clicking into them in View or Edit shows that they do have a value. Does this mean I haven’t “Bulk Updated”?
I think I might have found an answer to my question here. The question is what would happen if I removed my Opening Balance? If I can reinstate it easily enough that’s fine, but I don’t want to ruin the integrity of anything just yet
@ILoxton, your last post raises several issues that are intertwined.
Your start date, if you set one, should be the day you want your Manager records to begin. You should only set one if you are making a transition from a prior accounting system.
Starting balances in Manager are the closing balances from the prior accounting system.
The only reason to enter or import bank transactions prior to your start date is if they are pending on the start date. All the ones you showed are Cleared.
Your identification of your problem is correct. The pre-start-date transactions you imported show as zero because Manager ignores everything before your start date except sales and purchase invoices, which are used to set starting balances for Accounts receivable and Accounts payable.
Nothing will happen if you delete those pre-start-date imported transactions, because they are already being ignored. And you can always import them again, though there would be no reason to.
Since you apparently understand the import process correctly, be sure to read the Guide on starting balances: Manager Cloud. This will help you understand which accounts, if any, should have them. It also explains how to enter pending bank transactions. If you do so, be sure they are properly marked as Pending when you create them. If you mark them as Cleared, they will be ignored as they currently are. (Don’t forget, by definition, every imported bank transaction is Cleared.)
You asked what would happen if you deleted starting balances. The answer depends on your actual financial position on your start date and which accounts you entered them for. Balances will change. But, as you suggested, they can be re-entered.
I recommend creating a test company to explore these issues before fooling around with your real records. You can have as many companies as you want. You can import a bank statement to the test company, even though it doesn’t belong there. Play games in the test company that do not endanger your actual books. See this Guide: Manager Cloud.
Fantastic - I played around with a test account and have been able to balance everything while removing the start date.You’re right - I was moving from a prior accounting system that was much more locked down than Manager. I guess I’m still getting used to being able to do what I want to do in a software package
Since you said you are migrating from a prior accounting system, you should set a start date and enter starting balances. So produce a balance sheet with your old system for the day before your Manager start date. Enter starting balances and your Manager balance sheet should be identical to the old one (excepting any changes to your chart of accounts, which should not affect the totals of Assets, Liabilities, and Equity groups).
The only way you could migrate from a prior accounting system without a start date and starting balances is if, on the start date for Manager:
You had no capital
You had no cash or bank accounts
You owned no fixed or intangible assets
You had no outstanding loans
No customer owed you any money
You owed nothing to any supplier
Your tax accounts with your tax authority were completely settled
You owned no inventory
All employees had been paid everything they were owed for all past payroll periods
Contributions and deductions for employees had all been forwarded to the necessary outside agencies
…I think you get the picture
You can’t violate the principles of accounting. Your business did not cease to exist because started keeping your books with Manager. All those balance sheet accounts are called perpetual accounts for a reason.
