I’m new to all of this and have been using the program for only about a year or less for my small personal music tuition business, for creating invoices easily and managing funds. As it has now just come to the end of my first financial year using the program (Australia - July 1st to June 30th) I’ve been trying to work out how to create tax reports to give to my accountant (basically just a number to tell her of how much I have earned under this business). I have two separate “bank accounts” on Manager and have received different amounts of funds into either of them but when I go to create a tax report for the year it lumps them both together, I can’t seem to create two separate end of year amounts for each individual account. Is there an easy way of doing this?
Tax reports for separate bank accounts don’t make any sense. Tax authority is not interested in reports by bank account, they are only interested in total figures for the whole business regardless how many bank accounts there are in the business (or whether business has any bank account at all).
Not to mention, not all income is deposited in bank account and not all expenses are paid out of bank account but even undeposited income is tax assessable and expenses not paid from bank account can be tax-deductible. So tax reports by bank account really don’t make much sense.
If you need report per bank account because each bank account belongs to different business, then you should have created in Manager two business entities.
I mainly just want to be able to see the total incomes for the financial year that went in to each bank account… there seems to be no way of getting a report that lumps them together but also shows their individual incomes
The closest report is
Cash Summary but it will show you figures for all bank accounts combined. I’m working on a framework to be able to generate custom reports since there are many of these niche reports which I don’t really want to hard-code into the program as they are not seen as standard (like P&L, balance sheet etc.)