I tried tried to enter opening balance for customer, but it shows credit balance (minus figure in trade receivable) instead if debit balance.
Again, in case of supplier, opening balance shows debit balance (minus balance in trade payable) instead of credit balance.
I want solution for it
The figures are correct. Credit is on the right side (source of funding) and Debit (destination of funding) on the left side. The credit due to your customer means that you have taken advance payment from that customer without a transaction being made, so called ‘unearned revenue’. Therefore, this is a liability for the company and thus a minus figure in trade receivable. Similar thinking applies for Supplier credit.
What if I have delivered goods of $500/- to a customer. It should be in plus figure in receivable. But whenever I enter this amount in Manager Software as starting balance to a new customer, I found it has been shown as negative balance in Receivable. That’s the issue.
In Pic 1 I am creating customer an entering opening balance,
In Pic 2 Manager showing me this figure in minus figure or credit in receivable.
My response is solely related to your statement that you entered a starting balance (you name it opening balance but Manager calls it starting balance) where you provide standing credit to the customer. If you would invoice the customer then it would show as account receivable, but you credit the customer by entering amounts in the opening balance, hence it shows correctly in Manager as explained in my previous post.
1 Like
Opening balances for customers are entered by entering the outstanding invoices not the balance.
Read this guide Set starting balances for customers | Manager
Opening balances for suppliers are entered by entering the outstanding invoices not the balance.
Read this guide Set starting balances for suppliers | Manager
As always, you should search and read the guides before posing a question here
1 Like
Yes, got a solution. I have planned to do this by debiting customer and crediting suspense. After all the asset and liability part done, I will adjust suspense with retained earnings.
- In Manager the suspense account is an error state.
- In other programs you would be prevented from leaving the screen with the error.
- Manager puts the erroneously entered data in the suspense account and allows a limp along state. However doing so does not change the fact data has not been entered fully so no output data should be trusted.
- having anything in the suspense account is Manager screaming at the user to fix the errors.
In summary before trying to “fix” anything in Manager, fix the error Manager has already found for you. Clear the suspense account as described in the guide https://www.manager.io/guides/7106
What you suggest (debit account receivables, credit suspense account) is completely wrong!
Just follow the instructions in the Guides I linked to