DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Receipting Bank payments


#1

Hello I am using the most recent desktop version of Manager io and have looked up all the information and am unable to find an answer to my query, Which I believe will be very simple.
I have created 5 invoices.
I have created a bank account
I have imported the bank transactions using QIF
I have been paid for 1 of the invoices, so I went to bank transactions and assigned the funds to the particular customer and applied sales in the account column. The status colums shows cleared
When I view the bank transaction for this customer it shows a bank receipt for the invoice value, but when I go into the sales invoices it shows it as still unpaid.
I thought by assigning the bank transaction to the customer and identifying the invoice that the balance would be automatically updated but this is not the case.
Do I need to use receive cash or another form of recognition for the funds to be applied to the invoice for it to be at a zero balance/ paid in full?
I would appreciate any assistance you could provide and I aplogise in advance if this question has already been answered
Kind regards
Mifs


#2

Can add screenshot for the said invoice and bank receipt.

Possible indicator,


#3

Your statement is confusing. You cannot assign a receipt, whether entered manually or imported, to a customer. You have to post it to Accounts recievable, the customer’s subaccount, and the sales invoice number. If that is what you meant you did, then you have not described something else you did correctly, because that action will cause the receipt to be applied against the invoice and the invoice status will show as Paid in Full (assuming the numbers are correct).


#4

Hi Tut,
thanks for your feedback. The issue I had was really the programs acceptance of the imported bank statement which I imported using QIF as it matched the formatting of Manager, however it did identify the bank transaction with the invoice which it cleared but it did not accept it as paid via accounts receivable.
So to keep it all simple as we are only a small business we decided to dump the imported non working bank statement and to opt to receive money under the new bank transaction button, and identify it against the invoice which has worked a treat
Kind regards
Mifs


#5

Hi acecombat2

I had a reply from TUT which I answered as follows

thanks for your feedback. The issue I had was really the programs acceptance of the imported bank statement which I imported using QIF as it matched the formatting of Manager, however it did identify the bank transaction with the invoice which it cleared but it did not accept it as paid via accounts receivable.

So to keep it all simple as we are only a small business we decided to dump the imported non working bank statement and to opt to receive money under the new bank transaction button, and identify it against the invoice which has worked a treat
Kind regards
Mifs

It is a pity the downloaded bank statement did not interact with the Manager program

Kind regards

Mifs


#6

Imported bank statements most definitely do interact with the program. Have you read these two Guides:

https://guides.manager.io/9240
https://guides.manager.io/9243

You need to either allocate imported transactions to their proper accounts manually or set up bank rules to do it automatically. The program isn’t magic and doesn’t know what account you want to post a transaction to without your intervention, regardless of what any description in the imported file might say. Your bank (and hence the imported statement) has no knowledge of how you have structured your chart of accounts.


#7

Hi Tut,

      Thanks ever so much for the follow up. I did read the  2 guide recommended reads and have read them previously when setting up the system.

We have decided to stay with the manual system as we are a very small business and it works just fine with a cut and paste for the transactions, and I respect one of the guides where it has a caution against duplications and because we are cutting and pasting manually we can ensure that only one posting is being done at a time.

This is a fantastic program to date, as I have been able to set everything up for customised invoicing and the summary page and reports are all one could ask for. The operating program is easy to use based on usual accounting principles.

We are going to start with suppliers (creditors) and goods inwards in the immediate future and hope they work as well as the debtors system

Before trying Manager, I looked in much detail into

Wave, Free accounting, Turbo cash 5, Gnu Cash, Zip Books, Money Manager EX, Quick Books and MYOB.

This was a painstaking exercise as I spent night after night evaluating the packages and trying to fit them and their customisation packages to our business and Manager was the only one that ticked all the boxes and was friendly to use.

I am so pleased that you came back to me so quickly on my enquiry.

I have been using accounting packages for the past 24 years and I am confident we are now on a winner…… fingers crossed as we move forward, as I hope it doesn’t lock up even though I do regular back ups. Is there any provision for integrity checks and reindexing of the information to reduce the opportunities for corrupted information?

I would be happy to provide a testimonial in the next few weeks if you like, hopefully so prospective users do not have to go through so many packages but start with Manager first up

Thank you and kind regards

Mifs


#8

No. The database is updated every time you click Create or Update. Generally, you then see what you just worked on. If you don’t like it, edit it. I have to warn you, though, that what you describe as a sequential adoption of Manager is likely to give you trouble. Only a portion of your transactions will be captured. Better to experiment with a test business until you are comfortable, then jump in with both feet.

If things go wrong along the way, you will end up with transactions in Suspense, a balance in Starting balance equity, bank statements that cannot be reconciled, etc. Mistakes are common in accounting. Fix them as soon as you discover them.

You just did.