Accounts Receivable – Page 4

QuickBooks | Debit Note

Software: Intuit QuickBooks accounting software Debit note Generally, a GST-registered person is required to issue a tax invoice or simplified tax invoice (if the total amount payable including GST does not exceed $1,000) for the standard-rated supplies made to his GST-registered customer. This is to enable the GST-registered customer to substantiate his input tax claims. […]

MoneyWorks | Contra a credit note with an invoice

Software: MoneyWorks accounting software The Contra feature in MoneyWorks is referring to contra a credit note against an invoice for the same debtor or creditor. You can’t use the Contra feature to contra invoices between a debtor and a creditor. From the Command menu, select Adjustments and follow by the Contra Invoices function to contra […]

It’s paid

Software: MoneyWorks accounting software If you need to take a “quick look” of whether a Sales Invoice has been paid from the Sales Invoice transaction list, you may consider pulling out additional fields such as “DatePaid” and “AmtPaid” onto the Sales Invoice transaction list. From the Sales Transaction list, go to the Edit menu and […]

MoneyWorks | Setting up – Accounts Receivable

Software: MoneyWorks accounting software When migrating to MoneyWorks, you need to record the outstanding Accounts Receivable as of your cutoff date (The cutoff date is referring to the date you cut off from the existing accounting software, it could be your year end closing date). From the Setting up navigation page of the MoneyWorks accounting […]

QuickBooks Blog | Invoiced in foreign currency but received payment in base currency

Software: Intuit QuickBooks 2014 Assuming your base currency is in Singapore dollar (SGD), when you create a sales invoice for your foreign currency customer (USD) for the amount of USD 1,000.00 with 7% rated GST (this customer is based in Singapore) at the exchange rate of 1.3000; the double entry for this transaction in Singapore […]

QuickBooks | Bounced Cheque

Software: Intuit QuickBooks 2014 In the past, to record a bounced cheque in QuickBooks, we need to do a few steps manually such as creating journal to debit the accounts receivable account and credit the bank account; and if there is any bank service charge, we need to record it via a payment or journal […]