Software: Intuit QuickBooks accounting software General Journal is often being used during month-end or year-end closing. You may use a general journal to reclassify accounts, prepare accrual or record a depreciation of the fixed assets. However, sometimes when recording a journal with an accounts payable, you get a warning message of “Transactions to accounts payable […]

Software: MoneyWorks accounting software By Default, the Aged Receivable and Aged Payable report of MoneyWorks accounting software is sorted by Name Code. For example: Name Code         Name BROWN               Brown Suppliers FEB001                 ACE Logistic Co Brown Suppliers […]

Software: MoneyWorks accounting software The Terms (Payment terms), which under the “Pricing & Terms” tab of the name profile (A debtor or a creditor), have an option of “Next Month” or “Within Days”. The “Within Days” terms calculate the due date based on the number of days set from the invoice date. Whereas the “Next […]

Software: Intuit QuickBooks Premier 2015 accounting software Unlike the Accounts Receivable module, Accounts Payable module does not have a “Record Bounced Cheque” feature. To record a returned cheque, which has issued to a vendor, a General Journal is needed. You may consider using a Void Cheque feature, but if the cheque is returned at a […]

Software: MoneyWorks accounting software In our earlier post, we discussed about how to record the outstanding sales invoices. Besides the outstanding sales invoices you are required to record the outstanding purchase invoice (bills) too when crossing over from the existing accounting software or manual system to the MoneyWorks accounting software. Under the “Setting up” navigator […]

Software: Quickbooks accounting software When you remit payment to supplier often there is a bank charge associated with the fund transfer. We usually record it as a separate transaction. That is, record a bill payment in Quickbooks for the amount owing (assume that we made a payment of $10,0000). Then, using a write cheque transaction […]