Hello
I have a business and sometimes there are some clients which request to get product(s) with the plan to pay later on (end of month, or semester)
I normally handle it on a notebook.
Is it possible to add the list of clients or debtors along with the amount of money that own on MMEX?
As if they were Account or Debt Receivables ?
The idea is that as soon as debtor pays , i add a transaction and close the debt
Thanks for your kind feedback in advance
Dino
Record amount of debtors + amount
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Re: Record amount of debtors + amount
MMEX is a personal finance application. It is not designed for business use although you may find it applicable if your business bookkeeping requirements are simple.
Here's one approach:
1. Make sure that View | Ignore Future Transactions is not ticked (otherwise the transaction you are about to enter will be hidden).
2. In the account where you expect to receive the payment in the future, create a Deposit transaction for the required Amount.
Set a future Date for approximately when you expect to be paid.
Set the Payee to be the client who received the products.
Set the Category as appropriate.
Maybe add a Note to say this is a future expected payment.
Set a Colour for the transaction so it stands out from all the rest.
Set the Status to Void to ensure that the Amount does not get included in the account's balance calculation (see 'Account Bal' at the top of the transaction list screen).
3. When the payment is made, open the transaction:
Change the Date to the actual payment date
Remove the Colour
Change the status to Reconciled
Alternatively, if you want the future payment to be included in the account's balance calculation, then instead of a Status of Void, you could set it to Follow Up. The 'Reconciled Bal' would show how much you actually have in the account now (assuming you have Reconciled all your current transactions) and the 'Account Bal' will show how much you will have if you call in the debts from all your clients.
Note that as well as using the Edit Transaction dialog to change the Status and Colour, you can do this directly in the transaction list by pressing:
U = Unreconciled
R = Reconciled
V = Void
F = Follow Up
D = Duplicate
and
Ctrl+0 = Clear colour
Ctrl+1 = Colour #1
...
Ctrl+7 = Colour #7
There isn't a formal capability to do this in MMEX, but you can easily work around that. You can then stop using your notebookThere are some clients which request to get product(s) with the plan to pay later on (end of month, or semester).
I normally handle it on a notebook.
Is it possible to add the list of clients or debtors along with the amount of money that own on MMEX?
As if they were Account or Debt Receivables ?
The idea is that as soon as debtor pays , i add a transaction and close the debt
Here's one approach:
1. Make sure that View | Ignore Future Transactions is not ticked (otherwise the transaction you are about to enter will be hidden).
2. In the account where you expect to receive the payment in the future, create a Deposit transaction for the required Amount.
Set a future Date for approximately when you expect to be paid.
Set the Payee to be the client who received the products.
Set the Category as appropriate.
Maybe add a Note to say this is a future expected payment.
Set a Colour for the transaction so it stands out from all the rest.
Set the Status to Void to ensure that the Amount does not get included in the account's balance calculation (see 'Account Bal' at the top of the transaction list screen).
3. When the payment is made, open the transaction:
Change the Date to the actual payment date
Remove the Colour
Change the status to Reconciled
Alternatively, if you want the future payment to be included in the account's balance calculation, then instead of a Status of Void, you could set it to Follow Up. The 'Reconciled Bal' would show how much you actually have in the account now (assuming you have Reconciled all your current transactions) and the 'Account Bal' will show how much you will have if you call in the debts from all your clients.
Note that as well as using the Edit Transaction dialog to change the Status and Colour, you can do this directly in the transaction list by pressing:
U = Unreconciled
R = Reconciled
V = Void
F = Follow Up
D = Duplicate
and
Ctrl+0 = Clear colour
Ctrl+1 = Colour #1
...
Ctrl+7 = Colour #7
Last edited by MartinArmstrong on Thu Jul 27, 2023 8:11 am, edited 1 time in total.
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Re: Record amount of debtors + amount
Continuing from the above post...
If you don't want the future transactions to be listed in the account where you will eventually receive the payment, then another option is to create a separate account (call it Debt Receivables) and do similar to the above but to create the future transactions in the Debt Receivables account.
When the payment is made, update the transaction as before, and change the Account name to the account that actually received the payment.
And a final idea...
When MMEX 1.7 is released, you could Tag all these future transactions with a 'Future_Payment' tag. This would allow you to quickly produce a report showing all the expected payments from your clients. Remove the tag when the payment is received.
If you don't want the future transactions to be listed in the account where you will eventually receive the payment, then another option is to create a separate account (call it Debt Receivables) and do similar to the above but to create the future transactions in the Debt Receivables account.
When the payment is made, update the transaction as before, and change the Account name to the account that actually received the payment.
And a final idea...
When MMEX 1.7 is released, you could Tag all these future transactions with a 'Future_Payment' tag. This would allow you to quickly produce a report showing all the expected payments from your clients. Remove the tag when the payment is received.
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Re: Record amount of debtors + amount
Hi Martin ,
Thanks for your feedback.
I really appreciate your prompt reply
I will get rid off that notebook
Dino
Thanks for your feedback.
I really appreciate your prompt reply
I will get rid off that notebook
Dino