Hi,
In our trading business, we have one customer, but with many billing names. The way we are using Manager now, is resulting in some Billing names having positive and some having negative balances.
How do i address this?
Regards,
Ajit
I think that you should manage him as only one client and map the billing names at invoice level through custom fields.
Another solution is having many different clients, one for each trading name, and, after the issue of every single invoice, doing a journal entry to move the credits towards the main client’s account. Than you should register all the payments towards this main account.
I do not use custom fields enough, that sounds interesting.
you can create them as separate customers and invoice them separately. this will be mandatory for tax regulations as the business identifiers will be different for each billing name.
when receiving the payment,
- enter the name of the customer in the Payer field. the Payer name can be the first name of the customer and not necessarily the name of the business.
- select Accounts receivable under Accounts column and select the Customer to which the receipt needs to be allocated.
- if you are entering a single receipt for multiple customers, then add them as separate lines with the amount applicable towards each Customer account.
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A trading name doesn’t imply a different tax code. Instead, most of the time, you will have the same code.
By the way, as far as I understand, @ajitsj cannot track what pays what…
Hi Davide,
In my business, one customer is the owner of multiple firms, as they have different facilities with different banks and different banking limits.
When I run a report for supplier transactions, i want these multiple firms to show me a consolidated report for the buyer.
@ajitsj, based on what you have said, each firm must be a separate customer, even though they are owned by the same person or entity. They are in different places, use different banks, and have different names. Being owned by the same person or entity does not make them the same business. Manager does not have the ability to consolidate multiple businesses.
Now, if these different businesses are actually divisions or branches of the same legal entity, you can track income and expenses separately with tracking codes. You can use custom control accounts on the balance sheet. But so far, you have not mentioned anything like that.
Hi @Tut, you are correct, they all are different entities as far as Invoicing goes. But since they are all controlled by the same person, was wondering if I can club these accounts when generating reports.
Depending on the kind of report you need maybe you can “mark” all of these subfirms with a custom field at clients level.
But then you have to create each report by yourself (and right now you cannot obtain everything with custom reports…)