Software: Intuit #QuickBooks accounting software Under the Singapore GST regulation, you are required to show the total amount payable, for both excluding and including of the GST, and both the GST rate and amount in Singapore Dollars equivalent on a foreign currency invoice. There are three methods of adding the Singapore Dollars equivalent for both […]

Software: MoneyWorks #accounting software In the MoneyWorks general ledger, a foreign currency account is represented as two separate amounts: the value in the foreign currency, and the value of the difference between that currency and the base currency. The difference is stored in a (normally hidden) account called a “delta account”, so that the following […]

Software: MoneyWorks #accounting software The year is broken into periods. You normally have 12 periods in your financial year, each one corresponding to a calendar month. However MoneyWorks lets you have anywhere from two to fifteen periods. — MoneyWorks version 7 User Guide page 10, Period. A Financial Year normally has 12 financial periods and […]

Software: MoneyWorks #accounting software The double entry accounting consists of a debit and a credit entry. The Bookkeeper has to pass the journals and updates the ledger, which represented with a T account. These are the fundamental of accounting. However, with a computerised accounting system, the double entry is done behind the daily transactions such […]