Software: MoneyWorks accounting software Based on the financial period set, MoneyWorks automatically transfer the net income, “Plus Current Year Operating Surplus (Deficit)”, from the current year to the Retained Earnings for the following year. To prevent users from accidentally recording current year transaction in the prior year (or period), you may consider to “lock” the […]

Software: Reckon QuickBooks 2012/13 There is a little issue in Reckon QuickBooks 2012/13 Tax Report. It affects a handful of user who converts Sales Order in foreign currency with GST into an Invoice at a different exchange rate. Assuming your home currency is in SGD (Singapore Dollar) and you created a Sales Order in foreign […]

Software: QuickBooks 2012 Premier (Canadian version) One of the reasons why you should consider QuickBooks Premier instead of QuickBooks Pro is that QuickBooks Premier allows you to print Balance Sheet report by Class (if Classification feature is part of the reasons why you buy QuickBooks). “Class” is a powerful feature in QuickBooks. Usually, we use […]

In my previous blog, I did mention that bosses usually had lots of bits and pieces of claims. How are you going to capture these claims into QuickBooks? I preferred to create the Amount Due account as a Credit Card type of account. This method is easier because I don’t need to create any General […]