DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Inventory multiple locations and opening balances


#1

First of all thanks to the team for such a powerful yet light accounting software.

Sometimes inventories are sent to different locations or sales point to be sold. Can we have the option of selecting where (stores/show rooms/ Branches) inventories are located or sent after purchasing them or manufacturing them to allow tracking of the movement of inventory? (intra company movement of inventory)

Also I wanted to know if there is a way of creating opening balances of amounts owed to us by individual customers which will sum up to opening debtors/receivables and also a way of creating opening amounts owed to individual suppliers which will sum up to opening creditors.

Finally, how can use manufacturing order to calculate and and produce inventory from raw materials available using bill of materials?


#2

Warehousing features haven’t been implemented yet so it’s not possible to track inventory among multiple locations.

To setup opening balances, first make sure Start Date under Settings tab is set to when you are going to start using Manager.

All unpaid invoices prior start date should be recorded under Sales invoices and Purchase invoices tabs. Issue date for each invoice should be obviously before your start date. This is how Manager knows those invoices are part of opening balance for accounts receivable and accounts payable.

Raw materials should be also set up as inventory items. Then you can use Manufacturing orders tab to convert raw materials into finished goods (which should be also inventory items).


#3

I tried the advice you gave me on the opening balance for individual customers for receivables but it creates a suspense account under equity.

I need to add the individual opening balances to my records so that i can make a customer statement that shows records of brought forward receivables and current year receivables.


#4

If you add invoices worth $10,000 as opening balance, $10,000 will be posted as debit to Accounts receivable. You need to establish opening balances for each of your accounts on balance sheet. Then sum of debits and credits should come to zero. If debits and credits from opening balances don’t equal, Manager will automatically post difference to Suspense account in order to maintain accounting equation.