Please note we are using the desktop edition of manager.
We do not hold stock we receive it and send it out straight away. I have set up some new stock codes as I have done in the past and when I go to pay off the invoice, it doesn’t pay it off properly, it puts the stock in inventory on hand which is 0 and my net profit on the summary doesn’t balance back to the bank statement. Please let me know how to fix this as I have set the codes up like before.
My bank balance has always reconciled back to my net profit until I entered the new inventory items.
We had 4 new stock items so I set up a new supplier, then I entered the new codes into inventory items, then I raised a purchase invoice and a sales invoice which should have cleared all inventory items, which it has when u check. Then I went to pay the purchase invoice and it puts the amount in inventory on hand.
In the Spend Money for the Account did you use Accounts Payable + Supplier ?
If in the Spend Money you re-entered the inventory items then you have duplicate the Purchase Invoice.
Paying a supplier via Accounts Payable “can’t” adjust you inventory.
to pay off an invoice I go into purchase invoice click view the invoice I wish to pay then click spend money change date and click paid from account and select account then click create and it pays the invoice off. The account is accounts payable.
Cash & cash equivalents 3,859.04
Inventory on hand 739.20
This is the summary screen after invoice is paid.
Is it to do with the way I set up the stock codes or do I need to do an update in Manager it has never done this before unless I made an error and didn’t invoice all inventory out but this is not the case here as the balance if 0 on all inventory items.
Are you using cash basis accounting - Summary tab - Set Period.
If yes, then the “inventory on hand” value won’t go until you do a Receive Money for the Sales Invoice - then you will have two matching cash transactions which will contra off the inventory on hand.
If you go to Summary tab - Set Period and select accrual basis, then the Inventory on hand will be zero.