I use Cash Basis for all my reporting. Summary Date is set from 01/07/2019 to 30/06/2020
I get only partial details drilling down on the Inventory - cost from the Summary for Invoices
If I switch the Summary to Accrual they show.
Invoice
Cash Basis
Accrual Basis
Is there a way to make the details appear when in Cash Basis?
In a word, no. Cash basis accounting does not consider the item sold until a receipt is entered reflecting payment. And therefore there is no cost of the not-yet-existent sale. The sales invoice is effectively ignored until that receipt is entered. Then the adjustment is made to Inventory - cost. What you highlight is one of the disadvantages of cash basis accounting.
But the invoice has been paid (see image of invoice) and the amount is there, $42.41, under cash basis. The description of the inventory item is missing! It appears to reference the Invoice number and ignore the receipt despite the fact that it IS an existent sale.
Can you post a screen shot of receipt 4776? The invoice says it was received against the invoice, but neither of your drill-downs on Inventory-cost shows it.
I think what you wanted is to view the details under the “cash basis” set up considering that for the “accrual basis” , there are “edit” and “view” options for all the line items under “Inventory Cost” while for former, there is none.
Is this a suggestion? I believe it is not missing because it was built that way.
Not really, as the Topic title says, the item details are missing.
If you have a look at the Northwind business you will see a perfect example of the difference between drilling down on Inventory - cost between Accrual and Cash Summary.
Inventory that you have purchased on credit and have not paid for will not appear in cash basis reports. Maybe this is the reason.
@VACUUMDOG, I cannot make any sense of this. From what you have shown, you seem to have two different sales invoices (4615 and 4776) with the same cost of sale: 42.41. But they look to have been on two different dates. And one (4615) has a receipt (4776) against it that does not apparently exist.
If I were you, I would delete and re-enter these transactions. I think that somewhere, somehow, you corrupted your database. Another option is to go back to a backup from before this happened and move forward from there.
You should also examine a drill-down on the sales invoices involved to see what transactions have been applied.
The invoice was issued on 26/07, payment was made on 29/07, not hard to figure that out.
This is the ONLY sale and receipt for this customer in the last 12 months.
This is not the only transaction that has the item description missing from Inventory-cost drill down in the Cash Summary.
Seeing as how you don’t seem to want to check it out in Northwind I’ll post a screen shot for you!
CASH BASIS
ACCRUAL BASIS
Can you not see that there are NO ITEM DESCRIPTIONS in the Cash report where an invoice has been issued???
As I said before, check out Northwind for yourself.
I don’t need to check out Northwind, and yes, I can see. The reason descriptions are missing is that under cash basis reporting, the transactions are automatically generated after the fact, when a receipt is entered, unlike under accrual basis reporting, where they are entered as you create them. That is also why there are no Edit or View buttons. In such cases, there is no description.
Your additional screen shots provide no new information about the sales invoice and receipt you have been writing about. Nor do they shed any light on my suggestion for examining the drill-down on sales invoice 4615 itself. Based on the information you have provided, I’ve given all the advice I can.
Then what do the values in the debit column represent and where do they come from?
I am not interested in the Edit or View button, just the missing Item Description. The price in the Debit column is correct for the item on the invoice.
The example given was the easiest transaction I could find. There are others for other customers that are exactly the same but with lots more items making it real hard to cross reference anything. e.g.
Surely if the report can give the items cost price it could give the description too.
Just as an aside I use automatic numbering so 4615 is the invoice number and 4776 is the receipt number. These are generated by manager itself, not me.
Here is Payment/Receipt No 4615 as generated by manager and is a payment to a supplier.
They are the cost of sales for individual line items, calculated based on average cost at time of sale. These are the amounts debited to the Inventory - cost account.
All I can say is that it does not. It was designed and coded that way. Your fixation on this behavior suggests you would be better off using accrual basis accounting. As you may know, it is actually illegal in some jurisdictions to use cash basis accounting when inventory is involved. There are just too many shortcomings and compromises. Manager is, at heart, an accrual basis accounting system with modifications for cash basis reporting. But the cash basis performance was and is an afterthought.
I assumed as much. You still haven’t shown the necessary information to diagnose what is going on with invoice 4615. I’ve asked more than once. But you seem more focused on an issue I cannot do anything about and unwilling to examine what could actually be causing your problem.
I’ve offered all the advice I can. Good luck finding the error.
Cash accounting method was recommended to me by the ATO Auditor. I wonder who’s recommendation I should consider?
The very first post shows the invoice. This is as far as I can drill on Invoice.
All this rubbish about invoice numbers compared to receipt numbers that seems to have attracted so much attention has thrown this thread right off topic and not come any closer to explaining why SOME ITEM DESCRIPTIONS ARE MISSING FROM INVENTORY-COST DRILL DOWN IF SUMMARY IS SET TO CASH.
Please do not post a reply if it is not relevant.
