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.
Why do you expect your bank balance to match net profit?
You need to provide more specific information so someone can help. Describe what you did. Post screen shots showing the problem.
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.
Disable the Goods Receipt and Delivery Notes modules if you are not using them. There was a change recently regarding how the inventory is managed. You can find details in the below topic.
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.
Goods Receipt and delivery modules are not selected so I don’t think this is the problem
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.
I just need to know how to pay the invoice off so it doesn’t go into inventory on hand as it should be 0.
If i am not wrong, shouldn’t the inventory on hand be 0 when you make sales rather than purchase? purchase is when you add the inventory and sales is when you spend the inventory.
There must be another issue, paying a purchase invoice via Accounts Payable “can’t” affect inventory.
Can you do this: go to the Inventory Items tab, for one of these Inventory Items, click on the “Qty on hand” value (blue figure) and post a screenshot of the screen displayed.
how do I post a screen shot
Inventory Items
/ OKIES6410B OKI ES6410 BLACK TONER
Qty on hand0
Transactions
Search
Date
Transaction
Contact
Qty on hand
Edit View 27/06/2017 Sales Invoice 30 Grahame Cook Plumbing Supplies Sales Pty Ltd -4
Edit View 21/06/2017 Purchase Invoice SI00267972 Toner Point Supplies 4
It is showing zero (+4 -4) with just the single purchase invoice and single sales invoice.
So why do you think the payment is increasing your inventory.
To post a screenshot when typing a Reply, click on the icon with an “underlined up arrow”
Invoice date
Due date
Invoice number
Supplier
Toner Point Supplies
Description
Item
Account
Description
Qty
Unit price
Discount
Amount
Tax
OKIES6410B OKI ES6410 BLACK TONER
OKI ES6410 BLACK TONER
%
AUD
No tax
×
OKIES6410C OKI ES6410 CYAN TONER
OKI ES6410 CYAN TONER
%
AUD
No tax
×
OKIES6410M OKI ES6410 MAGENTA TONER
OKI ES6410 MAGENTA TONER
%
AUD
No tax
×
OKIES6410Y OKI ES6410 YELLOW TONER
OKI ES6410 YELLOW TONER
%
AUD
No tax
×
Del Delivery
%
AUD
No tax
×
AUD
Add line
Internal information
Amounts are tax inclusive
set default
this is the invoice I have raised
Assets
Cash & cash equivalents 4,606.49
Inventory on hand -
This is the summary screen before I pay the invoice
Assets
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.
A post was split to a new topic: How to reconcile bank statement