At present there are some functions that Pandle cannot handle...yet!
Payments on account
Payments on accounts, deposits and pre-payments are not yet available in Pandle. These features are complex to design intuitively and in a way that will limit user error as much as possible. We are, however, making progress on this and will hopefully have it released in the near future.
In the meantime a suggested workaround would be:
- Create a new bank account (under Enter Transactions > Banking Tab) and name it 'overpayments' or similar.
- When categorising the payments on account, deposits or prepayments from your bank feed, categorise the transaction under the new 'overpayments' bank account.
- From the new 'overpayments' bank account you can manually apply part of the payment to an invoice (if it's an overpayment) and wait for future invoices to be raised before applying the balance in the same way.
Pandle's stock control will allow users to track stock bought and sold through Pandle, with a real time balance of the current stock level and advanced reporting for stock sold and margins.
This is currently under development and we hope to have it released soon.
In the meantime, a workaround would be to complete a stock take to value your stock on a regular basis, monthly or quarterly for instance. You can then make an adjustment in Pandle to reflect this. For example, if you value your stock on 31/03/2018 at £1,000, the adjustment can be completed as follows:
Go to Categories > + > New Category
Create a category called 'Stock' with the type being an 'asset'
Next, you will need to make the adjustment; Go to Categories > + > New Adjustment
As you can see from the below example, you are reducing the value of the purchases to increase the stock balance on hand (the higher the debit balance of stock, the higher the stock value). This will, in turn, increase your profit by the same amount, as profit is always calculated on the goods sold rather than the amount of goods bought:
If you then value the stock at £1,500 the next month you would need to make an adjustment for the difference, i.e. £500 so that the 'stock' category always agrees with the value of stock you had at that time.
At present it is not possible to complete payroll through Pandle. We have just begun undertaking this project but it is a big and complex one, so it will take some time before it's available to be released.
In the meantime, you can use third party software for your payroll. There are a number of free/low cost software products on the market. You can then take a summary report from your payroll software each time you pay your staff and enter this information as an adjustment in Pandle. For complex adjustments we would recommend seeking help from your accountant, or for simple payrolls you can use our Wages Adjustment tool.
Pandle cannot yet track your time to enable easier invoicing and advanced reporting. This is something we are working on. We will integrate this with Pandle Projects and enable 'time entries' to be included in invoices easily. There will also be stop watches in the web app and mobile app.
In the meantime you can track your time outside of Pandle and then include a summary of this in your Pandle invoices.