I have started using manager part way through my accounting year. My accounting year starts in November, but have been using manager since May, with my old accounts program. I have set my year end as October 2015. When I create the opening balances from the bank statement - what date do I enter? may? I am just trying to reconcile the bank accounts and I am unsure
If you started to use Manager in May, then set your
Start date under
Settings tab to May (e.g. May 1, 2015). All opening balances will have to be set in May. Then obviously you should import or enter all bank transactions since May until now. The same goes for expense claims (if you have any), invoices (if selling or buying on credit) etc.
Manager is not really concerned about when your accounting year starts or ends.
If you start using Manager in the middle of accounting year, you will need to give your tax accountant two reports:
Profit & loss statement from old accounting program covering period from November to end of April. Then Profit & Loss from Manager covering period from May to end of October.
Next financial year, you will be sending your tax accountant only one P&L from Manager covering your entire financial year.