I do a lot of changes to chart of accounts when entering transactions. Currently this is annoying as I need:
open transaction window, start to enter data, when realize that I need amend chart of accounts.
I close transaction (lose data & time), go to settings, do changes to chart of A,
I go back and enter transaction again.
To find a shortcut I decided to run two instances of Manager.io on the same data file - on with the transaction window, other with chart of accounts, but this does not help - even after I click refresh, changes to chart of accounts appear only after data file being reloaded.
Is there any way to make use of running two instances of manager.io on single desktop PC? Or any other solution for this kind of program?
There are two primary ways to run another copy of an app that’s already open on your PC, and the methods work the same on Windows 7, Windows 8, and Windows 10. The first method is to right-click on the app’s icon in the taskbar, and then left-click on the app’s name in the pop-up menu that appears. This will open a second instance of the app as if it were being launched for the first time.
@Solnce has already stated that they tried that “I decided to run two instances of Manager.io on the same data file - one with the transaction window, other with chart of accounts, but this does not help”
Having two apps open only works when each is working on a different business, you can’t have the same business opened twice, they don’t / can’t update each other.
I have to question a practice of making changes to a chart of accounts so frequently that this is an issue. Many business go years without a change. What needs changing this often?
Charity in Africa with 40-70 projects that changes monthly, because of new funds, merging between, split and etc. COA needs to be adjusted for each project to make most use of gift aids and have current report for each project and donor. Does this make sense?
One of options, but it is not very convenient as it makes report grow in width, this makes report less readable (currently I have single page width on portrait orientation). Besides that I use tracking codes for splitting report in Restricted/Unrestricted Income-Expenses for each project.
Chart of accounts changes seem especially unsuitable for situations like you describe. Remember that once you use an account, you can never delete it. So old projects will clutter your chart of accounts forever and your reports will continuously grow longer and longer.
Generic structure of COA is maintained (income, expense etc) it is just under PROJECT FUNDS are subaccounts:
PROJECT FUNDS:
-Project A
-Project B
-Project C
…
-Project ZZ
The same is in expense part. Due to funds are restricted to use for certain project or unrestricted at all, I need to use Tracking codes RESTRICTED/UNRESTRICTED. In this way I have PL which looks like:
Income RESTRICTED UNRESTRICTED
Project A 115 200
Expenditure RESTRICTED UNRESTRICTED
Project A 150 150
Closing funds -35 50
In this way I know that I overspent of restricted funds and unrestricted were used for project A. As the structure of these projects changes quite often, I need to adjust COA accordingly to have it up to date.
So far this is the most convenient and fastest way of doing things, but if someone else knows other way, I am happy to try it.
While your CoA will work, the P&L will become increasingly long as projects are added and in future years any redundant projects accounts will continue to be displayed until (?) the “make inactive” feature is added.
An alternate approach would be to have “one” P&L - Project Funds account and for each project create two tracking codes - Project A Restricted & Project A Unrestricted. Now when projects are completed they are just no longer selected in reports and the P&L isn’t carrying their individual account clutter.
The same would apply to expenditure, just one account for each type of expenditure allocation.
Not sure did I get the idea right, but please find attached.
test1 - my version,
test2 - done in accordance to your recommendations
There are only 4 projects in example, but in reality I have 40-60, so I am not sure whether it will work.
test1:
Once a project has been completed and the reports printed off there is always the option to recycle Project A accounts into Project ZA once a financial year has past without any transactions for Project A.
I think Solnce’s main concern is all the time and data lost from doing Step #2.
Solnce, you do not have to enter complete transactions in Manager. You can enter a partial transaction clicking the Create Button to create the transaction. Then you can navigate to the Chart of Accounts and make your changes. Navigate back to the partial transaction and edit the transaction.
Let us say that we start entering a transaction. We enter a Payee and the amount. Then we realize that we need to create a new account. Click on the create button, even though we left the account field blank. Manager balances the transaction with an account called “Suspense”. So, you can just go to the chart of accounts, make whatever changes you need, and then go back to your transaction and complete it.
You can also go to the Suspense account to find all your incomplete transactions. Find the Suspense account in the equity section of the Summary display. When all your transactions are complete, the Suspense account automatically disappears.
