The Summary tab provides an overview of your business's financial position and key information. When you click the Edit button on this tab, you can customize how the summary information is displayed.
This customization screen allows you to control which sections appear on your Summary tab and how they are organized. You can show or hide different components based on your business needs.
The form below contains various options to configure your summary display. Each field represents a different section or component that can be shown on the Summary tab.
Select Show balances for specified period to ensure the summary displays figures only for the specified period.
When this option is enabled, the Summary screen will provide a notification if there are any transactions dated after the specified period.
This helps clarify why newly added transactions do not impact the figures shown on the Summary screen.
Typically you will set Show balances for specified period once you've been using the program for more than one accounting period.
Under these circumstances, you would adjust the period on the Summary screen to reflect a single financial period, such as a financial year.
This means Profit and Loss Statement figures in Summary tab won't be increasing perpetually but will be showing only for the current accounting period.
If you are migrating existing business to Manager.io, you should set Show balances for specified period right away to your current accounting period.
This is because migrating to Manager.io typically involves entering historical transactions to establish opening balances.
For example, when entering starting balances for customers, you'd enter all their unpaid invoices with historical dates. These unpaid invoices would credit your income accounts but you don't necessarily want to see this historical income in your Summary tab since this income belongs to past accounting periods.
Tick the Show balances on cash basis option if you prefer to omit unpaid invoices from your total amounts.
If you don't utilize the Sales Invoices or Purchase Invoices tabs, selecting this option won't affect the figures displayed in the Summary tab because you have no invoices.
If you utilize the Sales Invoices or Purchase Invoices tabs, the Summary screen will automatically adjust your figures through a Cash basis adjustment entry, excluding your unpaid invoices from the totals. However, we advise against using this option, as even unpaid invoices are integral to your financial position and should not be omitted from your financial figures.
If you're uncertain about choosing this option, it's best to leave it unchecked. The Accrual basis option accounts for unpaid invoices, ensuring that the Assets and Liabilities displayed on the Summary tab are accurate. The choice to check this option affects only how information is displayed on the Summary screen. Regardless of your selection, you can generate reports using either Accrual basis or Cash basis under the Reports tab for comprehensive analysis.
If you wish to display account codes alongside account names, ensure Show account codes is checked.
If you aren't utilizing account codes, selecting this option will not affect anything.
You can set account codes for individual accounts under your Chart of Accounts.
Select Exclude zero balances to conceal accounts that have zero balances. This feature is helpful if you possess numerous accounts with no activity. By enabling this option, your Summary screen becomes more streamlined and simpler to navigate.
Enable the Groups to collapse option and then choose specific account groups to display them as ordinary accounts, omitting detailed information.
This feature comes in handy when you have numerous accounts, even when the Exclude zero balances option is activated. It helps you further declutter and streamline the Summary screen by allowing you to collapse selected groups as if they were individual accounts.
You can create groups within your Chart of Accounts.