Record capital contribution in cash and bank

1

Hi,

I’m new in using Manager. We have started business with 4 partner each contributing 50,000 (Partial in Bank deposit and partial in cash). I setup capital account for each partner. Now I want to make entry of capital contribution for each partner as it is infused in business. Please help me step by step to make record of this transaction.

2

Debit Bank and Cash account for the respectve amount deposited and Credit the individual Partner Capital accounts.

3

Create a Receive in transaction in your bank account and post it to the capital account

4

Shall I use Journal Voucher to make this entry ? if possible please show one screen shot of same entry. I tried to make entry but then it is showing negative Equity

5

No. Journal entries cannot be used in Manager to record actual movement of money. You must use a receipt under the Receipts & Payments tab. Since part is to bank and part to cash, you will need two receipts for each partner. This Guide has an illustrated example: https://www.manager.io/guides/7820.

Manager’s process eliminates the need to determine which accounts to debit and credit. The program determines that from context.

6

Thanks. It worked