Category Archives: MoneyWorks

Multiple Branches

Software: MoneyWorks accounting software

You may have customers that have multiple branches which require you to invoice and deliver goods to the outlets but send a consolidated statement to the HQ at the month-end.

First, have the debtor setup with same company name but a different delivery to address in MoneyWorks accounting system. Then, add a dot (.) after the customer name code to group the debtors, and a branch code after the dot to differentiate the branches. Each branch is a debtor, which allow the user to create invoices and print a consolidated statement at the end of the month.

consolidated

Assuming debtor ABC Co (name code ABC_CO) has two branches. To create them in MoneyWorks, first, you amend the debtor code to ‘ABC_CO.’; and two more debtors as ‘ABC_CO.br1’ and ‘ABC_CO.br2’. Any debtor with name code started with ‘ABC_CO.’ will group as one company when printing statement.

You can improve the presentation of the Accounts Receivable Ageing report by adding the HQ Name code (ABC_CO.) into a category or custom field and subtotal by this field when printing report. Highlight the main (ABC_CO.) to print a consolidated statement or print a branch statement by highlighting the branches code.

Book a free demo today to have an understanding of how MoneyWorks helps in managing your business finance.

Repacking

Software: MoneyWorks accounting software

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.

You can consider using an assembly method to repack the item into different UOM (unit of measure); in this case, the UOM has changed from kg to bags. For example, you buy item ABC123 in kg but resell to the customer as a bag of 25kg. After records the purchase of ABC123, you create another item and name it as ABC123-25 with the UOM as ‘bag’. Then, go to the BOM tab and select ABC123 as a component with a quantity of 25 (25kg). To automate the process, you may also select ‘Auto Build’, these allow MoneyWorks to create ABC123-25 and deduct the quantity of the source item ABC123 automatically when sold.

 

Accounting Software - build assembly

You can create many assembly items with a single source product which you have purchased from the supplier. You may also use the assembly method to repack promotional item; for example, a chocolate retailer may repack the chocolate bar into a gift pack during Christmas or special occasion.

You don’t need to be a manufacturer to use the assembly feature. You can use the assembly feature to convert from a barrel to pint, ml to bottle, or sachets into boxes. Assembly is useful, try it out.

Book a demo today to find out more about how to use MoneyWorks for your business.

MoneyWorks 8.1.6 update

Cognito has released an update 8.1.6 for MoneyWorks accounting software.

QR Code

QR Code generation in forms and reports is a new feature launched in version 8.1.6. You can consider adding a QR code on the invoice form to ease the goods return process.

Visit the Cognito website for the change history of version 8.1.6, to find out the bugs fixes and improvements of this new update.