Good day, I am well aware you’ve had this discussion on the forum many times before, but I would really like to ask you again if you would reconsider to add a function to leave payments unallocated (but do show on SUPPLIERS & Customers - not suspence) Please, please, please. I’m not sure how the rest of the world function, but I’ve spoken to many friends using Manager in NAMIBIA and it’s certainly a very much needed function (I know Sage/Pastel and other bookkeeping programs allows for it, thus I gather it cannot be that uncommon).
Thanks
You can create a special account to record unallocated payments and reallocate when you want.
Reading your question again, it looks like you want to eat your cake and have it. If you want the payment to show on the statement, it must be allocated.
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Allocate the payment into a special account and reallocate when the invoice is received. The invoice must be dated correctly (when revenue was recognized or the date of payment) you can use another custom field to record the date the invoice was received or generated.
Though I’m not opposed to a feature that can provide you with what you want, let me add this: Manager is not doing anything wrong here because technically speaking, if an invoice is not received and a payment is made to that supplier, the payment is a “payment on the account” of the supplier and can be (or should be) allocated to any subsequent invoice from that supplier.
Also, I don’t believe you have provided enough information to receive all of the assistance you may require on the forum. An example or illustration that is well-explained can make it easier for others on the forum to provide suggestions or even solutions to your situation.
I don’t understand what the problem is. Why don’t you just use a Payment and select Accounts Payable and the corresponding supplier’s account without selecting an invoice?
Manager allocate automatically to oldest unpaid invoice if I don’t select an invoice.
OR instead of all that trouble just a leave unallocated box…
I’m not saying Manager is doing something wrong. I would merely love that feature, as many many many people suggested things on the forum and it was added to the program. Why is Sage Pastel and other bookkeeping programs getting the principle? I’m not asking much. Im a bookkeeper and would love to get all my clients off Pastel and on Manager, coz I love the program. Just need to figure out this one. Creating extra accounts etc don’t work. Read my previous comment on deposit. If pts are on other accounts, the accounts payable balance reflecing is incorrect.
Correct. Is that a problem? Else you create an account Prepaid supplier invoices or Prepaid expenses. You say you’re an acountant so I guess you know how to use it.
Hi, I do believe as well that there should be an option that receipts/payments does not automatically apply to invoice. Perhaps, a setting that restricts the system from automatically applying it. If the user want’s automatic application, he can turn-on this setting. This is just a suggestion as I do also support the idea of not auto-posting.
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Well, in your previous post you stated:
@Abeiku is an accountant and he also suggested to create a special account, which I have called Prepaid invoices or Prepaid expenses:
It’s a basic accounting concept and it’s a simple solution. I suggest you search Google for Prepaid invoices accounting, Prepaid expenses accounting or Prepaid expenses journal entries. You can also visit www.accountingcoach.com
He explained that as a bookkeeper you should take @Abeuku’s advise him being an account.
I cannot perform a funcion Manager does not allow.
No
While that work flow may work for you it would be a retrograde change for most. Doing so would break automatic allocation to invoices.
The options available in Manager have already been pointed out to you by Abeiku
If you do not understand, then ask you accountant to help you to understand the procedure
Not if Manager gives you the option to choose. Because it seems I lack the ability to explain clearly. Please check out well established bookkeeping programs such as Sage Pastel. They make it funcion properly for everyone.
Open-Item Versus Balance-Forward Accounting
If you practice open-item accounting, you match payments against bills. The term “open-item accounting” is used to describe this accounting practice because:
•Payments are matched against “open items” (i.e., unpaid bills and adjustments)
•Only unmatched bills and adjustments (i.e., open items) affect aged debt.
Contrast open-item accounting with “balance-forward” accounting - in a balance-forward world, payments are not matched to bills. Rather, payments implicitly relieve a customer’s oldest debt. For example, consider the following unpaid financial transactions that exist for an account and the resultant aged debt.
In a balance-forward world, if a $1,000 payment was made on 9-Mar-00, the customer’s aged debt would look as follows:
Notice how the $1,000 payment relieves the 62 day old debt - it does this because, in a balance-forward world, payments payoff oldest debt first.
However, let’s assume the customer wants the payment to settle their electric debt (e.g., because they disagree with the gas bills). If you could match the $1,000 payment to the two electric bills (i.e., open-item accounting exists), the customer’s aged debt would look as follows:
In sum,
•In an open-item world, payments are matched to bills and only unpaid bills and adjustments (i.e., open items) affect aged debt.
•In a balance-forward world, payments are not matched to bills and therefore a customer’s aged debt is computed by aging debits (bills and adjustments) and then relieving the oldest debits using credits (payments and adjustments).
Note:
Financial Transactions and Bills. In an open-item world, only bill segments and adjustments are presented on a bill. When a bill is completed, only those bill segments and adjustments to be presented are swept onto a bill. Payment and payment cancellation FTs, bill segment FTs canceled before bill completion together with their corresponding bill segment cancellation FTs, and adjustment FTs marked as do not show on bill are not swept onto a bill. An adjustment’s adjustment type and its algorithms determine if its FT will show on a bill by default.
I suggest that you switch to one of packages you mention as that will solve your particular problem
Your idea has been noted but this forum is run by users who have no input in development of the product