Please enlighten me on this. I notice that when I created a sale invoice for $300, and I have yet to receive the money, but in the summary, it states that I have an income of $300 even when the money is yet to receive. Is this correct?
Did you setup Manager accounting to Cash or Accrual basis?
read this guide Choose between accrual or cash basis accounting | Manager
This is how double-entry accounting principles on accrual basis work. Income is recognized when invoice is issued, not when money is actually received.
If you want to show only income for which you have actually received funds, set your summary page to be calculated on “cash basis”.
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