Having trouble with inventory

[Scott.E]

Hi all. Setting up a test inventory for liquidating an estate.
Win 10 Pro, Desktop Manager 24.8.4.1788.
Problems show up for me on screen shots 7, 12 & 13.
Initially set up an inventory location (not shown).
Cash basis with starting date set.

Created control account for inventory.

Created a test item.

Posted JE with opening amounts.

Performed a revaluation.

Item List

First problem here with summary screen showing -2000.00 cost.

Changed summary to not select specific period.

Summary now looks as to what was expected.

Received cash for a sale.

Summary looks good.

Problem 2, only sales show on Receipt transaction journal, no costs.

Also, drilling through Summary Inventory Cost shows cast with no access to transaction.

Sorry for the lengthy post. Can anyone spot a setup problem or something I have missed?
Thanks!

[Ealfardan]

I’m not familiar with how Cash Basis reporting works in Manager. It’s not a feature that I use since we don’t have a use for that in our region.

However, there’s a couple of remarks that I noted:

1. This Journal Entry doesn’t make much sense for most everyday accounting purposes:
   

   
   
   
   You have specifically posted a Debit (a negative value in the Profit & Loss statement) to Inventory - Cost account. This was correctly shown in your first screenshot of your Profit & Loss statement:
   
   
   
   
   
   This is to be expected.
   However, I can only assume that you wanted to post the debit balance in your Inventory account, in which case you first select the account “Inventory” and then select the item.

2. The revaluation shouldn’t have any effects on your cash basis accounts, which is expected.

3. As far as the receipt and its related cost, unfortunately dynamic costing of inventories have been dropped in favor of periodic revaluation of cost.
   
   See the following guide:
   https://www.manager.io/guides?inventory-automatic-revaluation-form
   
   The good news is that you can still turn dynamic costing from Settings > Obsolete Features > Inventory Automatic Revaluation

This leaves us with this single unexpected behavior:

4. When you removed the specified dates from the Summary tab, what was the period for your Profit & Loss column since it’s not clear from the screenshot you shared.
   
   
   
   
   
   This could help us with the reason why the cost was excluded. Please post another clear screenshot.

[Scott.E]

@Ealfardan Thank you for your response. The starting date was originally set to 1/1/2024:

I attempted to redo the opening journal entry. I missed that it was going to a cost account.
However, a cannot seem to get the “Collections” Inventory account to work:

I wanted to correct this to see if the account amounts on the summary screen showed up as to my expectations, but am now stuck. It seems that the custom inventory control account should be able to be selected here.

[Ealfardan]

I can reproduce the issue.

Not only you can’t select the custom control account for inventory, you cannot select the default inventory account.

I have created a separate bug report for that:

Cannot select inventory on hand or custom controll account in Journal Entries

Continuing the discussion from Having trouble with inventory: I have reproduced @Scott.E’s inability to select custom inventory control accounts. Also, the default inventory control account cannot be selected as well.

Now back to the dates issue, I was specifically talking about this screen:

@Scott.E

Summary now looks as to what was expected.

more specifically, the period under the Profit & Loss statement heading. Please note that in this screen, the summary has no user supplied period.

[Scott.E]

Okay, now understood.
This screen shot you posted was after I removed the starting date. Since I was misinterpreting the summary screen, I thought this was what was to be expected. Screen 7 in the original post shows the summary with the 1/1/24 starting date selected and the $2000 posted to the cost expense account, which makes sense as the journal entry is prior to the summary. I think I will wait further on this after I can post the opening JE properly after any fix.