Manager version: 22.6.9
The individual inventory item is not showing with manual journal entry as it should be because it should update inventory. Please see uploaded pic below.
The debit account is my account with third party selling platform receiving money from customer. It is set up as a current asset account, not as a bank account.
You have selected a revenue account, not an inventory control account.
In addition to @Tut 's post I am wondering why you did not set it up as a “Third Party Receivable” bank account? You do not need Journal entries for these but use receipts.
Hi Tut,
Thanks for your reply.
Do you mean this?
For example, if I sold an item (x200) for $100on third party platform, such as Amazon,
Journal entry entered like the the following:
Is it correct?
Many thanks.
After I entered the above journal entry, Manager did not update the sales revenue and inventory -cost account as expected.
Hi!
Thanks for your reply.
That will work.
But if there is an option, I would not set it up as a bank account. Because it’s weird for me since it’s not a bank account.
If you create a group in the Chart of Accounts and call it the typical “Cash & Cash equivalents” then you can list bank, cash and any other account such as Amazon. In Manager you create the Amazon Account similar to a normal bank account, including a control account. This is perfectly legitimate and is the right way to use 3rd party accounts.
Ok. I’ll set it up as a bank account to solve the problem.
Thanks for your detailed explanation.
No, it is not. As @eko explained, this transaction represents money coming into the business, so a journal entry should not be used.
My original comment was directed only to your choice of account and your complaint that your inventory was not updated. It was not updated because no inventory-related account was included in the journal entry.
A sale of inventory involves many accounts:
When used correctly, Manager accomplishes all of these for you. You included only one of four necessary lines in your journal entry and introduced your erroneously defined Amazon Account.
