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Account — Billable time - invoiced

In Manager.io, the Billable time invoiced account is a built-in account used to track the income from billable time that has been invoiced to customers. While this account is automatically added to your chart of accounts after recording at least one billable time entry, you may want to customize it to better suit your accounting needs. This guide explains how to edit this account's details.

Accessing the Account Settings

To edit the Billable time invoiced account:

  1. Go to the Settings tab in the left navigation menu.
  2. Click on Chart of Accounts under the Settings options.
  3. Locate the Billable time invoiced account in the list.
  4. Click the Edit button next to this account.

Editing Account Details

In the account editing form, you can modify the following fields:

Name

  • Purpose: Specifies the name of the account as it will appear in your financial reports.
  • Default: Billable time invoiced
  • Action: You can rename this account to align with your terminology or preferences.

Code

  • Purpose: Allows you to assign a unique code to the account for identification and sorting purposes.
  • Action: Enter an account code if your chart of accounts utilizes codes.

Group

  • Purpose: Determines under which group the account will appear on the Profit and Loss Statement.
  • Action: Select the appropriate group that reflects how you want this account categorized in your reports.

Autofill Tax Code

  • Purpose: Sets a default tax code for transactions recorded to this account, streamlining data entry if you frequently apply a specific tax.
  • Action: Choose a tax code from the dropdown if you are using tax codes in your accounting.

Saving Changes

After updating the desired fields:

  1. Review your changes to ensure accuracy.
  2. Click the Update button at the bottom of the form to save your modifications.

Important Notes

  • Non-deletable Account: The Billable time invoiced account cannot be deleted from your chart of accounts.
  • Automatic Addition: This account is automatically created when you record your first billable time entry.

For more information on how to record and manage billable time, refer to the Billable Time guide.