Starting Balances

1

Hi

I’ve set up my accounts and have entered a start date. The guide says that from here i am supposed to see a blank balance sheet and be able to enter my start figures.

No I can’t see where I’m supposed to enter my start balance figures?

What i do have is an unbalanced journal entry. The unbalance amount is the opening balance of one member’s capital account.

Yet my balance sheet balances because somehow it has a figure for Opening Balance of Equity that was somehow makes my balance sheet balance. Somehow this was created when I was creating new accounts in my chart of accounts. Created when I entered my figures for my balance sheet items.

The other member balances and all assets and liabilities figures are entered correctly.

But I have this Opening Balance of Equity in my balance sheet and an unbalanced journal entry that i can’t edit in any way. And I have my member opening balance missing.

Is anyone able to tell me how to fix ths please?

Thanks

John

2

Go to settings > Opening Balances

3

Hi

That’s my problem. When I go to Settings I do not see any option to enter Opening Balances.

When I hit Enter after putting in my start date, I went back to the Settings tab.

With kind regards,

John Harmer

4

In the latest version of the software, opening balances are entered in Setting/Starting Balances
What version number are you using?

5

@hbeedee, did you read the rest of the Guide: Manager Guides? Instructions and illustrated examples are provided for both ordinary accounts and control or special accounts.

Manager forces the accounting equation to balance. If you have made unbalanced entries, it automatically creates the account Starting balance equity to force a balance. Click on the figure to see transactions involved. Most likely, you made a mistake entering the one member’s capital balance. Concentrate on that entry. Make sure you chose the account, member, and subaccount correctly.

6

I’m not at my laptop now but I think somewhere about 16.1.80. It’s pretty recent. I only downloaded the program a few months ago. Which is why I’m still learning to use it.

I’m wondering whether I should delete entries in the unbalanced journal? Which I didn’t actually create.

I think its system generated as I was setting up my member accounts. Which sounds probable since the system asked me whether the new account was an opening balance then when I ticked that box, it opened a new box that asked whether the account was debit or credit. Then for the amount.

But even if I do delete those figures I will still be left with the Opening Balance that is probably the imbalance. As I say, I’m not at my laptop.

That I can’t edit or delete?

Unless its in another entry somewhere that I haven’t found?

Thanks for your help.

With kind regards,

John Harmer

7

Update your software. You are thousands of updates behind, literally. If you only downloaded this a few months ago, you got it from a third-party distribution site. Download only from https://www.manager.io/desktop/download/.

You should balance the offending entry. You are not going to be able to delete automatic balancing entries. Read the Guide I linked to carefully.

8

OK I have now downloaded and installed Version 18.1.80

.

And I have read the guide you referred me to. It shows that i should be able to see where i can enter opening balances.

But I do not see that option

I am attaching 3 screenshots

  1. Start Bal Equity is the unbalanced journal. The unbalance amount is the missing member opening balance.

You will observe the Starting Balance Equity has a debit and a credit total. I did not enter any of those figures as a journal entry.

They appeared as I was creating member balance accounts.

I do not see where/how i can edit the entry to add the missing figure? where would i do that?

  1. Set Date is what i see when I went to settings and set Date. I hit Update and went straight to…

  2. Settings Where I see no option to enter any Opening balances.

Nor was there any such option to enter Opening Balances on the Set Date page

I am not trying to be difficult… The guide and you are telling me that i should have an option to enter opening balance figures.

But I do not. That I can see?

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9

The latest version is 18.8.41

You will have that option if you use the latest version.

The version you are using didn’t have Starting balances option under Settings tab. That was added in version 18.4.39 as per https://www.manager.io/desktop/releases/.

10

I’ve done that now. version is now 18.8.40 and i have corrected my unbalnced journal.

Many many thanks for your help.

ONE MORE PLEASE

Attached is a copy of part of the Member balances section of my Balance Sheet.

You will note that the various accounts are in no particular order. And I’d like them in order.

And I’d like them to appear as follows

Justin Perry

Withdrawal Balance year start

Employer Contributions

Member Contributions

Share of Income

Tax Payable

Withdrawal Balance year end

How do I create such an order please? Do I allocate a Code for them? And is that a code for each

account or just a code for the Member Name? In the screenshot that would be Justin Perry for instance.

And what code numbers would i use. I have used codes in the Profit and Loss. But I note that the main

headings Equity and Member Balances do not have codes allocated.

ALSO, you will note that i have entered member names. This is because when i went to enter

the Member Contribution figures in a journal entry for other members than are shown in the screenshot,

the system did not show all of the individual accounts for each member. It only showed a single selection for

Member Contributions. The same applied to all the other accounts. I entered individual names to

force the system to display all member accounts.

For instance, there was only one account listed for Member Contributions. So I could not

identify which member contribution account i was going to be posting to.

Thanks

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11

For tracking member balances, use Capital Accounts tab. See Manager Cloud

Don’t use general ledger accounts. Capital accounts are designed for that purpose (together with Capital Accounts Summary report).

12

OK. Thanks. I’ll check the guide and follow that.

Thanks for your help.

With kind regards,

John Harmer

13

when i check on manager.io i see the latest release is 18.8.19 and the installed version is also the same.
how come everyone saying version 18.8.41 . Is there something i am missing here @lubos @Tut

14

Release notes do not address every version, many of which involve changes invisible to the user.

Right now, some changes are being rolled out and, unfortunately, debugged with input from users. So there have been more than 20 versions in the last 2 days. In fact, 18.8.46 is the latest. I would not recommend updating for a couple more days, until things settle down.

15

yeah it seems that way plus the newer versions are really creating lots of errors or suspense. hope things will settle down soon with stable versions.
also when i start the latest version and uninstalled it and tried to run previous stable version. manager not start as stating ur database has been upgraded and run latest version. is there any way to downgrade the database to run previous stable version.

16

No. You would have to restore from a backup made before the version you are running.

17

Lubos I’ve checked and see that I did not explain my questions clearly enough.

My accounts are all set up as Capital Accounts. Not as ledger accounts.

Following other advice given, I edited the title Capital Accounts and named it Member Balances. Then I added all the individual members names as new groups. Under each member group I added new member accounts as I have listed.

Everything is nested under what was originally named Capital Accounts that I have renamed as Member Balances.

My questions thus still remain. How do I get my individual member accounts into the order that I need them?

I add that I am also a SMSF auditor. Having this information available is a regulatory requirement. So I can’t just post to a single bundled Capital or Member account. Each element or account nust be shown separately…

18

Thanks. I downloaded the correct version and have corrected my errors.

Thanks for your help.

19

Based on what you are saying, you have set up members as groups in Chart of Accounts. This is not how it’s meant to work.

Members need to be added under Capital Accounts tab. Not in Chart of Accounts.

Sub-accounts of members can be set under Settings → Capital Subaccounts.

Of course, you can rename Capital accounts in your Chart of Accounts to Member balances to get presentation on balance sheet correct.

Once you have it set up this way, you will be able to enter transactions by first selecting account Member balances, then member Jenna Perry, then sub-account Member contributions.

Also there is Capital Accounts Summary report which will show balances across all members and sub-accounts in compact format.

The columns in the report above are member sub-accounts and rows are members.

20

Luba, here’s what I did

  1. I clicked on Capital Accounts tab on the left hand menu of the business’s home page. The one above where Settings is the last selection available.

  2. Once there I changed the name Capital Accounts to Member Balances.

  3. At the top of that same Capital Accounts screen, as I remember, I had the the option to set up new Groups and Accounts. I used those options.

  4. I set up new groups there for each individual member. As I have shown in my screenshots.

  5. For each individual member I set up the new accounts as are shown in my screenshot.

As I was setting up each group and each account, I was asked to nominate which group I wanted the new group or account to be nested under.

In each individual instance my options began with Equity. Then followed Member Balances. Then the individual member group. Lastly the individual accounts.

So I think I have my groups and accounts in the Capital accounts section.

Each time I set up an individual group, I was given the option to create a code. To facilitate the order in which groups appear.

The same procedure was offered as I was setting up my individual accounts.

At no time did I leave the Capital Accounts section as I was creating my groups and accounts. So I fail to see how I could have set up anything in the Chart of Accounts?

Hence my questions here. I am assuming that I should be using codes to create the order of presentation or appearance of each member group under the Member Balance ( former Capital Accounts) heading?

That when I allocate each individual account ( as shown in my screenshot) then they will appear in the order I need?

Again my questions. Assuming as I am that my groups and individual accounts are all set up within Capital Accounts now renamed as Member Balances.

  1. Do I need to allocate codes to each member group name? I so, please suggest appropriate codes.

  2. Because both year start and year end individual accounts for each member start as “Withdrawal Balance”, how do I get the program to order the individual accounts as I want them? As listed in my earlier post here? Do I need to allocate codes? If so, please suggest appropriate codes?

I advise that I have used codes 1-6 in the Profit and Loss Statement headings to get my Profit and Loss Statement to present in the correct order.

As noted previously, I must have my accounts set up to present each individual group and account in my balance sheet.

If Manager will not do that, then I will be forced to discard it and look for an alternative. Something I really do not want to do as Manager is otherwise excellent.

Thanks

With kind regards,

John Harmer