Coronavirus pandemic has sent a shockwave to small businesses. It changes how we used to work.

A deposit received is a payment for goods and services which yet to deliver. It’s liabilities. The balances are cumulative presents in the Balance Sheet. It has to offset against the invoice when goods and services have fulfilled at a later stage.

Follow the safe workplace measure, QuickBooks and MoneyWorks accounting software demo will conduct over the web.

JSS (Job Support Scheme) is a cash grant given by the government to offset part of the local employee wage costs during the outbreak of COVID-19. If you are using MoneyWorks accounting software: There are two income account types (Sales and Income) in MoneyWorks. The Sales account type is a trading income, whereas the Income […]

Accrual is a provision made at the end of the financial year (or month-end closing) for the work done but not yet invoiced. The audit fee is an accrued expense which a provision has to make for the current year audit work, although the invoice will only receive on the following year. You can use […]

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