I installed Manager say 7 days back and also imported my bank account in the software, now the problem is some transaction shown in suspense account and I cleared them in their respective categories/account the payment received from customers or payments made to suppliers is of past transactions now they are showing and credit amount in their respective accounts.
When I make fresh transaction like invoice to customer or purchase invoice of supplier manager is deducting the amount of past transaction which is not correct.
So what to do…
Should I make Journal entry for these transaction if yes, then in which account should be this shown please specify or how to make the same.
Bank statement imports always have the potential to create duplicate transactions. So they work best when limited only to current periods, after your setup process is complete and all starting balances have been properly entered. If you were using another accounting system prior to Manager, you do not need to enter all previous transactions. Just set starting balances based on closing balances from your previous balance sheet. The exception is unpaid invoices, which are used to establish starting balances in Accounts receivable and Accounts payable.
You should not, and in fact cannot, use journal entries for any transaction involving the actual movement of money into or out of the company.
You might consider delaying your start with Manager until the beginning of the new financial year. Use that time to explore the program with a test company so you are ready to go in the new accounting period.