Summary — Edit
Manager.io enables users to personalize the appearance of the Summary tab, presenting financial information clearly according to individual business requirements. Clicking the Edit button on the Summary tab brings up several options to tailor its display, each explained below.
Show balances for specified period
By selecting Show balances for specified period, your Summary screen will display financial data only for your chosen timeframe. Once activated:
- You will receive a notification on the Summary screen if transactions exist after the specified period, ensuring clarity as to why recently entered transactions do not yet affect visible balances.
- This setting is most useful once your business has been using Manager.io for more than one accounting period. Typically, you'll set the period on the Summary screen to align with a specific financial year or accounting cycle. This practice ensures your Profit and Loss statement on the Summary tab reflects only your current accounting period rather than continuously accumulating balances from all periods.
- If migrating an existing business into Manager.io, activate this setting from the start of migration. Migration usually involves entering historical data (such as unpaid invoices with past dates) to establish opening balances. These older transactions credit your income accounts but represent historical rather than current income. Using this option, historical income from past financial periods will not clutter your current Summary tab view.
Show balances on cash basis
Check Show balances on cash basis if you prefer displaying financials without unpaid invoices. Specifically:
- Selecting Show balances on cash basis excludes unpaid invoices from the total figures displayed by making a "Cash basis adjustment" entry. If you don't use Sales Invoices or Purchase Invoices, selecting this has no effect since there are no invoices within your books to omit.
- Although the cash basis display option is available, it's generally not recommended, as unpaid invoices provide important insights into your financial position, contributing to accurate Assets and Liabilities data.
- If unsure about this option, leave it unchecked. Remember, choosing cash or accrual basis here only changes the Summary display. Comprehensive business reports can always be created on either accrual or cash basis via the Reports tab.
Show account codes
To include account codes alongside account names, activate Show account codes. Keep in mind that:
- The option has no effect if you haven't assigned account codes.
- Account codes can be specified individually within your Chart of Accounts settings.
Exclude zero balances
Selecting Exclude zero balances hides accounts currently sitting at a zero balance, providing a clearer and simpler view of active accounts. This is particularly useful when:
- Your business maintains numerous accounts, some of which have no recent activity.
- Streamlining your Summary tab improves readability by hiding unnecessary information.
Groups to collapse
Activating Groups to collapse allows you to condense detailed account groups into simpler views, displaying them like regular accounts without showing underlying details. This setting is helpful if:
- You still have many visible accounts even after selecting Exclude zero balances.
- You wish to simplify and declutter your Summary by merging certain groups into single, summarized lines.
- You can create and organize groups of accounts within your Chart of Accounts, selecting which of these groups you wish to collapse for a cleaner appearance.
By leveraging these customization features, you can ensure your Summary tab in Manager.io accurately aligns with your business's financial tracking practices and preferences.