Category Archives: MoneyWorks

MoneyWorks Datacentre 8.1.8r2 update

Cognito has released an update patch 8.1.8r2 resolving an incorrect calculation of the discounted price via price levels D, E, and F on the sales transactions.

Please visit Cognito website for the change history of version 8.1.8.

MoneyWorks accounting software version 8.1.8 update

Cognito has released MoneyWorks accounting software version 8.1.8 update.

You require to have MoneyWorks version 8.1.8 if you plan to install macOS Catalina. For Datacentre to work on macOS Catalina, you have to give full disk access to the MoneyWorks Datacentre Console. More information on installing MoneyWorks on macOS Catalina and the change history of version 8.1.8 is available at Cognito website.

 

Product Code and Supplier’s Code

Software: MoneyWorks accounting software

Product code is a unique number (or alphanumeric) use to identify an item. The unique product code for reselling a product can be different from ordering from the supplier, the supplier code.

For example, you own a retail shop selling Television. You sell various brands and models which purchase from multiple manufacturers and distributors. To keep a searchable inventory list, you may create the product code such as:

ABrand32LEDTV
ABrand43LEDTV
ABrand52LEDTV
BBrand32LEDTV
BBrand41LEDTV
BBrand61LEDTV
CBrand52LEDTV
CBrand61LEDTV

Sort inventory by brands helps in stocktaking, especially in a consignment or SOR (Sales or Return) business model. The product looks neat and searchable but may mean nothing to a vendor when you place an order. Vendor may have their unique product code, the supplier’s product code, which you are required to show on the purchase order.

SupplierCode

Use the Lookup (Detail.StockCode, “Product.SupplierCode”) function in the form to find the supplier’s product code of the item. You still use the internal unique product code in the order transaction, but prints the supplier code instead.

To automate the ordering process, add the usual supplier in each item; this generates a Purchase Order from the Sales Order once you have insufficient quantity on hand.

MoneyWorks is simple but yet powerful, sign up a demo to understand how to use MoneyWorks to manage your inventory and finance.