The Summary tab in Manager.io provides a snapshot of your business's financial position. To tailor this overview to your specific needs, you can customize the Summary screen by clicking the Edit button in the top-right corner of the Summary tab.
The customization form includes several options that allow you to adjust how financial information is presented:
By selecting the Show balances for specified period option, you ensure that the Summary displays figures only for a defined accounting period. When this option is enabled, the Summary screen will notify you if there are transactions dated after the specified period. This helps clarify why newly added transactions may not affect the figures currently displayed.
Typically, you would enable this option once you have been using Manager.io for more than one accounting period. Adjusting the period to reflect a single financial year prevents the Profit and Loss Statement figures from increasing indefinitely, allowing you to focus on the current period's performance.
Note for Migrating Businesses: If you are migrating your existing business to Manager.io, it's advisable to set the Show balances for specified period option immediately to your current accounting period. This is because establishing opening balances often involves entering historical transactions, such as unpaid invoices with past dates. These entries affect income accounts, but you may not want historical income reflected in your current Summary since it belongs to previous accounting periods.
Selecting the Show balances on cash basis option adjusts your financial figures to exclude unpaid invoices from totals. This option is relevant if you're using the Sales Invoices or Purchase Invoices tabs. When enabled, the Summary screen automatically applies a Cash Basis Adjustment entry to omit unpaid invoices from your financial totals.
However, it is generally recommended to leave this option unchecked. Unpaid invoices represent real financial obligations and are integral to an accurate depiction of your financial position. Excluding them may lead to an incomplete understanding of your assets and liabilities. If unsure, it's best to rely on the default Accrual Basis, which includes unpaid invoices in your financial statements.
Regardless of your selection here, you can generate detailed reports on either an accrual or cash basis under the Reports tab for comprehensive analysis.
Check the Account codes option if you wish to display account codes alongside account names in your Summary. This is useful for businesses that utilize a numbering system for their chart of accounts. If you haven't set up account codes, selecting this option will have no effect. You can assign account codes to individual accounts within your Chart of Accounts.
Enabling the Exclude zero balances option hides accounts that currently have zero balances from the Summary screen. This helps declutter the view, making it easier to focus on active accounts—especially useful if you have numerous accounts with no recent activity.
The Groups to collapse option allows you to streamline your Summary by collapsing selected account groups. When you enable this option and choose specific groups, those groups will display as single-line items, omitting detailed account information beneath them. This is particularly helpful if you have many accounts within a group and wish to simplify the overall view. You can manage and create groups within your Chart of Accounts.
By customizing these settings, you can make the Summary screen in Manager.io more relevant and easier to interpret, ensuring that it provides the most meaningful financial insights for your business.