Software: MoneyWorks accounting software Assuming your financial year is from January to December; and you wanted to start recording your account into MoneyWorks from year 2012. In the setting up new company wizard, Period setting, Set “Financial Year” to “Jan-Dec” and select “2012” in the “Start in” field. In the Period management window, you will […]

Software: MoneyWorks accounting software When recording a Purchase Invoice (Bill) from supplier you got a 1 cent different. Why? This is due to different in method of calculating GST, some accounting software is summing the GST amount for each line item, but some may be using total amount payable (excluding GST) for all line items […]

Software: MoneyWorks accounting software Gatekeeper-friendly code signature and installers Security note: Mac versions are now signed with an Apple-issued Developer ID certificate. Since this differs from the previous code signing certificate, Mac OS X will ask you to confirm that the updated application should be allowed to access any MoneyWorks passwords in your Keychain. This […]

Software: MoneyWorks accounting software Assuming you did a provision in last financial year for the withholding tax of S$10,000.00 (Singapore dollar is the base currency), at the point of providing the provision you are not sure of the type of currency will be taxed or exact amount. The double entry for this transaction is: Debit […]

Software: MoneyWorks accounting software Received your bank statement for the month of January 2012, it shows a closing balance of $100,500.00. You discovered that you had accidentally recorded a payment transaction, rental expense for the amount of $2,568.00, for the month of January into the month of February. This cheque was wrongly posted in MoneyWorks […]

Software: MoneyWorks accounting software When ordering large quantity or high value of goods from supplier, often supplier requires you to place a deposit (or advance payment) before goods is being delivered or manufactured. You need to create a non-stock item, Deposit, and associated this item with both Advances to Supplier (current Assets account) and Advances […]