Departmental account
Software: MoneyWorks accounting software
One of the powerful features in MoneyWorks is “Department”. You can use department as cost centre, branches, site offices, or even employee names (tracking of staff’s expenses).
How to use it?
Example:
I have few site offices, which I like to break down the cost incurred by each site office.
In MoneyWorks, I need to set up these site offices as a department. I will link my Departments (Site Office) to the Department Group (Sites) and then to the Accounts (Rent, Communication, Insurance, etc.).
Rental cost incurred:
- Site Office 01: S$2500.00
- Site Office 02: S$1800.00
- Site Office 03: S$2200.00
- HQ: S$6,500.00
In Payment transaction (or Purchase Invoice), when Rent account was being selected, MoneyWorks will prompt for selecting department as Rent account was already pre-set with Department. You just need to select the department accordingly.
There are many departmental reports available in MoneyWorks:
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Talk to us, if you like to know more about departmental account.