I am struggling with Assets. Probably because i know nothing of accounting. The Manager program is mostly very easy to understand and basic day to day operations seem easy enough. I have created a test business to test all the different functions that i would be using. I cannot however for the life of me figure out how to add existing assets to manager. I mean I can easily add a new fixed asset and make new payment. I just cannot find a way to add “old” asset and add the acquisition cost without having to make a new payment entry. This https://www2.manager.io/guides/15718 is not helping me either as my add fixed asset tab/page does not have starting balance options below the description box. The fixed asset help page also does not indicate adding old assets at all. Can someone please help me with this, Thank you in advance
Try to make a Journal Entry
Thank you, I have with trial and error managed to get it right, I think. Journal entry for to add asset, at cost and then depreciation entry for accumulated depreciation.
I am struggling with this same issue and hope maybe you can be more specific in how you got it to work.
My Journal Entry is “out of balance” when I have fixed asset at cost as DEBIT and accumulated depreciation as CREDIT .
I wish there was an example with the new version.
Thanks if you can help
NormaLee
Fort Bragg, CA
You are loading Opening Balances for a new business (new to Manager anyway) … correct?
The your journal entry is Debit Fixed Assets, Credit Accumulated Depreciation and Credit Retained Earnings
Thank you
Yes … entering data for existing company into manager - for a small non-profit that previous bookkeeper did all on paper and I am not an accountant. That makes sense.
truly appreciate help from the forum