Hello guys,
This is my first real input of data into manager as i have just registered as a sole trader and have received my first credit card statement. I am only dealing with purchase transactions of assets, consumables and stock as no sales have taken place to date and will not for the next few weeks.
The problem i am currently facing is that i am inputting my credit card transactions but some of them need to be broken down from their whole amounts in order for me to input them into their correct accounts. ie inventory, assets, consumables and other expenses. However in some cases the broken down amounts are not equal to the total amount on my statement and i am not sure how to account for it.
Please let me explain an example. (there are many like this but this is the simplest to explain)
Ordered 6 different items x2 of each, lets call the items A-F and on statement and Aliexpress transaction it shows as a single payment of £10.75
Individual prices of items show on my Aliexprees account are
Item A @ £1.05 x 2 = £2.10
Item B @ £1.05 x 2 = £2.10
Item C @ £0.83 x 2 = £1.66
Item D @ £0.83 x 2 = £1.66
Item E @ £0.83 x 2 = £1.66
Item F @ £0.83 x 2 = £1.66
total = £10.84 meaning i received a discount of 9p with no trace of why?
I have been creating individual inventory items (A-F) before entering transactions and using the unit price from my aliexprees account. Obviously when doing this the statement does not balance.
This is definitely a problem with aliexprees and not manager but none the less i cant get my head around it!
There is a £700 and a £500 transaction on my credit card statement that are also made up of stock, assets and consumables that i need to separate and correctly value into their specific accounts.
As i am trying to use manager as inventory control i need a correct representation of inventory value, asset value and other expenses. Yet when i break them down to input them the figures don’t add up because of aliexpress’s awkwardness and incorrect calculations.
What is the correct approach for this situation?
Should i contact every aliexpress seller and request an accurate invoice?
or
would it be acceptable to create a discount received account to offset the differences?
or
I am approaching this in the wrong way or aliexpress figures are really screwing with me! either way i need advice.
All other (multi) transactions from other suppliers are all correct and calculate as one would expect but aliexpress transactions are the ones i cant get my head around! If i ordered single items this would not be a problem for me but this is not the case unfortunately.