Pending sales/purchase invoices at the yearend date

1

Hi, I am using Manager.io Windows desktop version 23.8.25.1002 and accrual basis accounting.

It’s a trading business, so basically I just record the sales/purchase invoices and their receipts/payments in Manager.

Each time I record a sales invoice, Manager would generate an income as well as accounts receivable (likewise for purchase invoice) at the same time. But the invoice date may not always be the appropriate date to recognize the income or expense. For example, a customer pays a sales invoice which we issued in advance just to collect a deposit from the customer.

Any advice how I can better manage the invoice dates and the income/expense dates?

Thanks!

2

You should not create a Sales Invoice to record a customer paying a deposit

A Sales Invoice is used to record a service or goods actually delivered

Customer deposits and advances are handled as explained in this guide Record customer deposits and advances | Manager

More sphisticated handling of customer deposits is explained here Use special accounts | Manager

3

You can also retitle a sales quote as a pro forma invoice. That is covered in the Guide about sales quotes.