Opening balance: purchase invoices

Hi All

Account setup in manager on the 1st of December 2016, simultaneously the opening stock (inventory) is also entered as at 1st of December 2016.

Problem: I have unpaid purchase invoices (inventory) which is dated in the months of October / November.

Question: If i add them back-dated to October / November will this affect my inventory (as at December) in any manner in the form of qty / price etc?

The reason i ask this is there is no way we can have an opening balance for pending purchase invoices. if i bluntly define a purchase invoice with the total payable - the amount gets listed in the “suspense account”.

Please advice

@Premm, most of the questions you post are covered by the Guides. In this case, see:

I am not certain I fully understand your inventory situation. But after you have entered the outstanding purchase invoices, which are how inventory levels are normally adjusted, check your Inventory Quantity Movement report for your start date. If it is not correct, adjust your inventory opening balances accordingly.

I have about 50+ invoices, each containing about 7 to 8 items per invoice. it is taking me forever to add all the ‘purchase invoices’ in detail (items + qty + prices) - it would be great if i could select ‘accounts payable’ under the ‘account list’ unfortunately it is not listed and the invoice is going into ‘suspense account’

could you please advice an alternative way - so that i can avoid entering all the invoices in detail and just put in the total payable (as one invoice)

Thank you

You cannot post a purchase order line item to Accounts payable because that is the account credited by a purchase invoice. The accounts you select in the dropdown list for each line item is the account debited.

See these Guides:

For invoices that predate your start date, you could combine all invoices for one supplier, as a kind of pseudo-invoice. But you will still need to enter every line item and could lose the ability to resolve issues with suppliers if there are problems. I would certainly not recommend it. The point of creating the purchase invoices is not just to establish the monetary amount owed, but also to track/modify incoming inventory items.

That is the joy of owning a business. Of course, if your business was ongoing before adopting Manager, you might consider paying off those purchase invoices first, before making the transition to Manager. But perhaps there is never a good time. On the other hand, if you are just starting your business, and had no prior system, you shouldn’t be setting a start date at all. You should just enter all transactions relevant to the business from its inception.

after reading this i just got an idea :slight_smile:

I do have the check numbers issued against all the predated invoices, there are about 15 more invoices to go, so i think i will add all the invoices that i have already paid / cleared up until now and continue to add one at a time as and when the invoices are cleared in the bank and then reduce that sum from the suspense account until all the bills are cleared, i dont want to take short cuts at the same time i dont want to spend time adding each and every invoice all at once.

Thanks Tut.