Software: MoneyWorks accounting software When your home currency is set to SGD (Singapore dollar) and you need to make an advance payment (deposit) to your foreign supplier (USD) on an order. How to record this transaction? First, you need to create a deposit account and this account needs to be a Current Asset type of […]

Either MoneyWorks or QuickBooks can’t do the expenses journal in SGD (foreign currency) when your home currency is set to USD. In either software, only Bank, Accounts Receivable and Accounts Payable account can be in foreign currency. All other accounts will be default to home currency. When passing a journal in QuickBooks in SGD (Home […]

Software: MoneyWorks accounting software You need to setup the preferences in order to allow MoneyWorks prompted you when a duplicated Purchase Invoice was recorded. From MoneyWorks Document Preferences, Terms tab, you need to select the Check Box for “Check for Dup. Creditor Invoice Numbers”. Once this check box is being checked, whenever you try to […]

Software: MoneyWorks accounting software If your company needs to trade in multiple currencies, when you were sourcing for accounting software, one of the most common questions you usually asked will be “How does the multicurrency feature works?” So, how about MoneyWorks? How does its multicurrency works?  If my Home currency (SGD) against USD (foreign currency) […]

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, […]

Software: MoneyWorks accounting software One of the Key components in IRAS Audit File IAF (Singapore) report is your Company detail, which consist of both GST and UEN number During setting up of company file you can input both GST (VAT#) and UEN (Co. Reg #) number in the setup wizard. However, if you had forgotten […]