My brother recently shifted his business income and expenses to Manager. As per his request, I’ve started capturing invoices, receipts and expenses since 2017. However, once I receipt an invoice from that year, using the correct “accounts receivable, customer, inv number”, the invoice still shows overdue. The receipt shows under receipts and payments, yet the invoice is still overdue. I’m unsure how to fix this problem.
Select the invoice in the third box under Account on the receipts entry page:
Hi Mark,
That is exactly what I have been doing. However it doesn’t seem to change the invoice. I did change the receipt date to the current date (10/02/2021) and that works. However, it will throw off the bank reconciliation as its dated 2017 on the bank statement.
Did you set a starting date?
I didn’t. I didn’t even think about that. Will do that quickly. Thank you so much
It worked! Wonderful. Really appreciate it. Thank you
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Two points, @Eurika:
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There is no need to enter all these past transactions in Manager except for invoices that are unpaid on the date you start using Manager. The only purpose for doing that is to set the starting balances of Accounts receivable and Accounts payable.
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You did not indicate whether you changed the dates on those receipts back to their actual dates. If you did, and those dates were before the start date, Manager will ignore them. So you may have covered up a problem instead of solving it. And it could come back to haunt you later.
For a full understanding of starting balances, see the Guide: Enter starting balances | Manager.
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I’m very aware that there is no need to enter these past transactions, however it was requested therefore it’s what I’m entering.
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I completely forgot about the starting date, which is what was causing the problem. It is all fixed now that I’ve entered the starting date. There are no hidden problems.
Thanks you for the assistance though.