Although the accounting system does not compute payroll, you still have to record the monthly payroll via a general journal or payment transaction to update the ledger.

Cognito has released MoneyWorks version 9.0.8 update. The new feature includes downloading the sales from Shopify, BigCommerce, and WooCommerce eCommerce store as a service for MoneyWorks Gold/Datacentre. Besides, the stock transfer journals now support auto-split lines to streamline entering serial numbers for created stock. The change history of v9.0.8 is available on the Cognito website; […]

The current standard rated GST (G GST code) rate set in MoneyWorks is 7%, pre-loaded when you first created the document (the company file). You need to update the tax rate for the standard rated GST code to facilitate the rate change on 1 January 2023. 

Although either method gives the correct ledger, I would prefer using the undeposited fund to the discount method since the statement format is my concern.

MoneyWorks allows the user to open up to 90 opened financial periods. Once the maximum number of periods has reached, the user has to close some of the older periods to open up a new period.

Besides bug fixes and improvements, Cognito added a new Profit and Loss by Date Range report into the MoneyWorks accounting system.