Mastering Cash Purchases in Manager Accounting Software: A Step-by-Step Guide

Every business purchases items either in cash or credit. All accounting software should have the ability to make cash purchases. Manager Accounting Software is equipped with this functionality. In this guide you will learn to make a cash purchase in Manager Accounting Software step by step.

To start creating cash purchases, click on Payments.

Next, click on New Payment.

Payment page will open with many fields and options.

Date: Date is selected automatically based on your computer's date, but you can select a past date or a future date for your payment.

Reference: This field is optional. You can enter a manual reference or you can click on reference's option to make it automatic.

Paid from: When you are making a payment this field is very important. Select the bank or cash account that the payment is made from. If you forget to select one, your suspense account will be credited by the payment amount.

Payee: This field is optional and it doesn't affect the transaction. You can select a customer, a supplier, or other. When you select a customer or a supplier you can only select one that has already been created. You can enter a name for other.

Description: This description is written for the document. Later, you can write description for each line item.

Item: When you are purchasing inventory items, you select items from this drop down list. All of your items will be listed here. You can also search for your items from this field.

Account: When you select an item, Inventory on hand will be selected automatically. You cannot change this, unless you have set a different expense or income account for the item.

Description: You can activate Column Description option, which will enable a field after Account. You can enter a description for each line item. Below is an example.

Column - QTY: Activate this option for quantity column to appear before amount field. Then enter the quantity of the item.

Column - Unit price: Activate this option and unit price field will appear. Enter item unit price.

Amount: If you don't activate unit price column, you can add the total amount in this field. Then you wouldn't know the unit price of the item.

Total: The total will be calculated automatically.

Tax Code: You can select one of your tax codes that you have previously created from this field.

Add line: You can add as many lines as you require. You would need a new line for each item you are going to purchase.

I added another item with the following entries.

The necessary details are complete. There are a few more options that you could be using regularly. We will cover those in purchase invoice.

To complete this transaction click on Create. Alternatively, you can click on Create & add another to create more payments or cash purchases.

When you click on Create a payment document will be created which you can print it, issue it to your supplier or just refer to it whenever it is needed.