Software: MoneyWorks accounting software Refer to MoneyWorks v7 User Guide, Page 201, “GST, VAT, Sales Tax & Tax Codes”. The GST report can be printed from the Reports menu | GST Report. As an audit control, the current GST Cycle has to be finalised before you can move on to the next GST Cycle; and […]

Software: MoneyWorks accounting software When mailing to Singapore, usually we will write the mailing address as: 999 Street Address #99-999 Building Name Singapore 999999 Singapore is a city-state, an island country. We have a country name, Singapore, but we do not have a city, nor a state name like most of the other country. Hence, recording […]

Software: MoneyWorks accounting software Heading Only. If you want the account to be primarily used as a heading in summary reports, set this option. You will not be able to directly code to these accounts, and they will be greyed out in the choices window. – Page 37 of the MoneyWorks user guide Heading Only […]

Software: MoneyWorks #accounting software Singapore When print the GST report, by default, the “Show Transactions” checkbox in the print setting preferences has already been checked. This allows user to view the transaction reference number such as an invoice or bill reference number in the GST report. However, if you need to have more information such […]

Software: MoneyWorks accounting software Stock profile: When record a purchase invoice with the stock item A1001, the Stock On Hand account is debited and the Accounts Payable account is being credited. The Cost of goods sold account will not be updated until item A1001 has sold. That is, when you create a Sales Invoice for the […]

Software: MoneyWorks accounting software Which exchange rate should I be using? Daily exchange rate or monthly exchange rate? From the IRAS e-tax Guide “GST: Exchange Rates for GST Purpose”, which was published on 30 September 2013, stated that: … The exchange rate must be the daily exchange rate corresponding to the time of supply. If […]