Journal entries with the same date as at balance sheet are missing

I am entering 2016 journal entries. I’ve created adjusting entries dated Dec 31, 2016.
Balance sheet as of Dec 31 2016, does not show some of the transactions dated Dec 31, 2016 (it does shows some transactions dated Dec 31, 2106)
Balance sheet as of Jan 1, 2017, shows all Dec 31, 2016 transactions.

Not sure how can that be? Am I doing something wrong?

Screenshot of balance sheet transactions in the same account. Balance sheet on the left is dated Dec 31, 2016. Right is Jan 1, 2017 and transactions in red square are the ones missing in Bal. Sheet as at Dec 31, 2016.

First, from the descriptions, it appears none of the transactions listed should have been entered as journal entries. Every one shown in the two screen shots should have been entered in either the Receipts & Payments or Intangible Assets tab as a payment or an amortization entry.

Second, you have not explained what these lists are, and you have cut off necessary information so we might tell. Despite your labels, they are not the balance sheet. They are drill-down results for something. How did you obtain them?

Third, why are you making adjusting entries for a time period almost three years ago? If you are migrating to Manager from another accounting system, that is not how it is done. Because Manager is a perpetual system, the need for adjusting entries is relatively rare.

Fourth, do you have a starting date set? If so, what is it?

Fifth, what version number are you using?

  1. I’m learning bookkeeping so I’m entering all transactions as journal entries. I thought your system supports that. Is that not the case?
  2. These are drill down lists when I click on $ balances in the balance sheet (look at Equity -> Retained earnings on the Balance Sheet below for this example). Same thing is happening in Assets (as per red boxes in the screenshot below)
  3. I’m learning bookkeeping, so I’m entering each year as it’s technically required to close it (manually enter adjusting entries at the end of the year).
    3.a) With manager, when are adjusting entries required?
  4. Starting date is set to Jan 1, 2016
  5. I’m using online (cloud) manager.

You can not use journal entries to enter transactions (receipts and payments) into a bank or cash account in Manager

Of course, if you have set up your bank and/or cash accounts as account other than using the Bank and Cash tab, then yes you can enter transactions using journal entries but you then lose all the built-in features of Manager for handling recipts and payments

If you are using Manager to learn about double-entry accounting, this is fine but if you are planning on using Manager to actually account for a business, then this is not the way to do it

Have you read the guides about setting starting balances?

I have not set Bank or Cash accounts in Manager.
I am using Manager’s journal entry functionality to do the “basic”, “old-fashioned” double-entry bookkeeping via journal entries.
Starting balances are not the issue. They are set correctly.

I still do not understand why is Manager showing some, and not the other transactions in Balance Sheet for Dec 31?
And how to correct that?

You need to show a lot more information to enable this question to be answered. The forum users can not see your accounts and can only go on what you say and post

  1. Show screen images of all starting balances and starting date
  2. Show edit screens of transactions that you say are not being included
  3. Show a list of the journals and their status
  4. Drill down on the account balances that you say are incorrect and show screen images of the transactions
  5. Show the full summary screen

By drilling down on the account balances, you should be able to identify all the transactions used to provide an account’s balance

@clueless, you have not entered starting balances correctly. If you had, you would not see the Starting balance equity account. That is an account Manager creates automatically to force the accounting equation to balance when starting balances are not correctly entered.

I think no one is really going to be able to help you, since you are not using Manager the way it was intended. If you enter everything into self-created accounts with journal entries, none of the program’s built-in features will work. And if you try to close a perpetual accounting system, you will again create mayhem. No one is going to be able to diagnose the behavior of your system, because no one active on the forum has experience with the program being so completely misused.

2 Likes

You could try either, change the date on those items (one at a time) to Dec 30 and see if they appear correctly for the Dec 31 Balance Sheet, or delete and re-enter.

That is okay while learning double entry accounting, but you wouldn’t use Manager this way for live accounting, due to the functionality of the control accounts.

Hi Brucanna,

Thank you for answering my questions.
I noticed that control accounts do not get displayed in “accounts” drop down (pick) list when I’m entering new journal entry.

In general, that is not true. Accounts receivable, for example, is a control account, and it is displayed. What are not displayed are control accounts for which journal entries are not allowed, such as cash and bank accounts.

Question to follow up on Balance Sheet reporting of Retained Earnings:

In my 2017 Balance Sheet (as is with only the journal entries), Retained Earnings contains both 2016 and 2017 transactions.
Is that expected, given the fact that all transactions have been entered as journal entries?
How to correct that?

This is completely normal

The Retained Earnings account in the balance Sheet is the cumulative balance of all the profit and loss transactions since the accounting entity was started

This is just basic accounting