I am new to this software version: 24.9.19.1857. I am facing an inventory-related issue. I want to track my personal investment so I added shares in the inventory items section. I want to track breakups of my transactions if I bought a company share at some price then on top of it, the broker charges his commission then other charges and taxes also apply to the transaction. Overall I want to track different charges, taxes, and commissions. I have attached the screenshot if anyone can guide me I will be thankful. I have no experience with accounting.
Continuation of my last post… When I am selling any share I am not able to get the actual profit or loss figure. In the 2nd screenshot attached below, I have highlighted one share named MEBL 1,610.00 amount is showing but the actual amount should be 1,530.32
This version is far too old see FAQ - Manager Forum
Manager advances very quickly, simplifying and adding features and capabilities. Sometimes, bugs occur with new releases. But these are usually fixed rapidly, often within minutes. So if you encounter a problem with the desktop or server editions, update Manager , even if you recently did. (The cloud edition is always up to date.) You can check the latest version at https://www.manager.io/desktop/download/ .
Manager has an Investment module that you need to enable in Customize for your purpose. I also noticed that you have not yet set a base currency in Settings as the totals are not pre-empted with a currency sign.
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The actual price of the above item attached in the screenshot is 6.74250. Because of the break down, it’s not picking up the total price of the transaction as inventory price.
Here is the break down of the above transaction who’s price is getting 6.68 in the Inventory Costing Calculation Worksheet
You have not yet informed us if you have Updated Manager as per my earlier post.
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Yes I have updated it to the latest version
This is how I tried to solve this issue. One thing I am still facing is when I am recording the sales transactions I am having the same breakdown issue how can I use adjustments features?
As mentioned before enable the Investments module and use that instead of Inventory. You can look at the guides or search the forum about this.
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@kumaillakhani both inventory and Investment tab shows total quantity owned. To examine the appropriateness of each tab I recommend you start by look at how profit in investments is defined by the tax authority in your jurisdiction. Unlike inventory valuation sale, profit from investments is strictly defined particularly where there is a difference between normal income tax rate and capital gains tax rate.
I suspect you will find profit on sale of investments is exactly (sale price - purchase price) calculated for each unit’s actual purchase price. As a result if you purchase units at more the one time you have to nominate and track which units are actually being sold.
This can readily be done on the invoice when a sale is made, returning the purchase unit cost to the investment capital account (repeated for each purchase lot being sold this time) with the remainder applied to a REALISED capital gain/loss account.
Note Manager does not directly support this batch tracking, so you will need to do it externally.
If it is convenient for you to also track UNREALISED investment capital gain/loss (as part of your overall business asset revaluation), you could try Managers implementation however using that will obscure all your investment actual purchase / sales / REALISED gain tracking, and does not allow tracking more than one investment class. As a result, entering unrealised gains is currently best done by in Manager by journal entries atm in my opinion.