Is there a way to use multiple paid from accounts in a single transaction? For instance, I’d like to have an account for rebates and gift cards that I can use as part of the payment method, and then use a credit/debit card for the remaining balance. How would I go about doing that?
Enter a purchase invoice for transactions paid using more than one method then enter the payments against the invoice.
I don’t quite follow you… Could you show me an example?
You need to try it.
eg In a Manager test business
- set up your two bank accounts
- enter a purchase invoice
- enter payment of invoice from each bank account
No. By definition in accounting, when more than one source of funds is involved, that means there is more than one transaction.
To be clear you issue one Sales Invoice for say $1,000 but receive payment from several different sources. Example $800 cheque and $200 in cash. So you don’t want to edit the initial invoice to $800 and then issue a second invoice for $200?
You can create multiple partial receipts for the same invoice
You can add as many receipt from different bank & cash sources to that invoice until fully settled.
Of course a sales invoice is a financial transaction
Tut never said otherwise, so don’t misquote him - that only confuses everyone
I stand corrected.
I’m really sorry, I don’t understand what you’re saying. Do you think you could show what you mean?
My hope was to be able to just add another payment method and select the rebates account as the other method, then specify the amount to pull from that account.
For instance, Menards has a rebate program where you can earn back in store credit. I’d like to be able to keep track of that credit, and deduct from that account when I use it.
I don’t know if this makes a difference or not, but I’m using Manager for personal use.
Sorry, I’m not very used to accounting terms. What I mean is being able to pay from multiple accounts for for a purchase (I mean multiple different items) that you get 1 receipt for.
Correct, except in this instance I’m the one paying X amount in rebates, Y amount on a debit card adding up to the total I owe.
I am not sure that I understand what you are trying to do
But, if you mean that when you purchase something, you want to record the item(s) purchased, the rebate accorded and the net amount then in your payment transaction just add a line with the rebate account and a negative value
There is nothing wrong with using Manager for personal use however for the level of detail you are trying to capture, and item values, I suspect a different application would be more suitable. You need something which can create scan a super market invoice into an electronically readable format.
That’s a pretty good thought, but then wouldn’t it show the rebates account as a negative expense? It wouldn’t be the worst thing, but it seems like a rebate would an asset.
No, the rebate account would be an asset account
The payment transaction would debit the expense account(s) and credit the cash/cank account/credit card account and rebate account
I suggest you set up a test business and use it to try out different transactions
I flagged your post. Soliciting for this is against the forum rules at FAQ - Manager Forum
Be non-commercial. …Do not offer or solicit products or services…"
@danvie, you are not paying for a purchase from multiple cash or bank accounts. Menard’s is giving you a discount and you should treat it as such.
Not exactly, you only get the discount if you send in the rebate, otherwise it’s full price. Also it takes a few weeks for the rebate to come back, so you can’t use it until then. I was was think maybe make a receipt when the rebate comes in and add that to the rebate accounts, but maybe I’m way over thinking it.