Help with Expenses Not Showing Up Correctly in Summary

I’ve recently updated my from an old version (last autumn) to the latest one as of February 2024. Since then, I’ve noticed that the money I spend on buying goods isn’t showing up as expenses in my summaries. This is making my profit look higher than it should be.

Before I updated, all my expenses were accounted for just fine. I haven’t changed how I do things, so I’m not sure why this is happening now. I looked through the update notes but couldn’t find anything that seemed related to this problem.

Could someone help me figure out how to get my purchased goods to show up as expenses again?

I’ll send screenshots if needed.

Please do. It is unclear what you are referring to.

Here are my settings and the summary page. I realize that I need to utilize my ‘Inventory on Hand’ for creating production orders, which would decrease the quantity of ‘Samsung’ items. However, even when I generate production orders and reduce the quantity of these batteries to zero, the summary remains unchanged.

Is it possible to configure the system to record the purchase of items as expenses rather than as money transfers?

You have entries in Suspense account - what are these?

I noticed some transactions were missing ‘Bank account’ details. I’ve fixed this for the most significant transactions. Here are the details.

Before the update, the Net profit was around 1 million. Variations of 100-200k are not a major concern :((((((

You have transactions posted to the Suspense account

These are transactions with one or more errors. You will have to correct them before moving on to entering new transactions

All errors are important in accounts - there is no such thing as errors not being a major concern.


I have fixed all of them

Negative Accounts payable?

Could be advances to suppliers

Yeah, I paid to the suppliers.

Fixed that either.

When you purchase an inventory item, it does not affect your Profit/Loss balance.

The item is added to your Inventory on hand account and the amount deducted from your cash or bank account in the the case of a cash purchase or the amount is added to your Payables account in the case of a credit purchase using a Purchase Invoice.

The cost is only transferred to your Profit/Loss when you make a sale

If you use the item to manufacture another Inventory Item, the cost is transferred to the manufactured item on hand

Maybe you need to check the Production in progress Balance, why is the value negative.

Got it, thanks for the explanation. Here’s the thing: I have over 20 different products in my store, and each one needs more than 10 ingredients. The system only lets me set one default item set in the columns. Also, I had some production orders that couldn’t be finished because there weren’t enough ingredients. I’ve fixed those, so they’re now marked as ‘completed’, but the quality of both the finished products and the ingredients hasn’t been updated. The summary hasn’t changed either.

What should I do? Do I need to track every transaction and set everything up manually?