Repacking of products occur in trading or OEM (Original equipment manufacturer) businesses. For example, a spices trader may buy the goods in tons but repack into a smaller bag of 25kg or 50kg; or pack into bags or carton with the customer’s branding or languages as required.

Cognito has released an update 8.1.6 for MoneyWorks accounting software.

Besides importing journals, you can also import transaction such as Invoices, order, payment or receipt transactions. MoneyWorks is a powerful system which helps an accountant ease the daily accounting task.

Create Journal is a stock related journal in MoneyWorks accounting system, which uses to increase the stock quantity.

You can use the cost of goods sold or an expense account as a dummy account in the account tab of a payment transaction to record the GST paid on the imported goods.

The recurring feature helps reduce the tedious accounting task such as recurrent rent, payroll, depreciation, accruals, invoices for subscription and school fee; or use it as a reversal entry for prepayment or work-in-progress (WIP), etc.