Use a bank deposit feature from the QuickBooks Online (QBO) +New menu to record a refund from the supplier and offset it with the supplier credit you entered.

The non-GST registered overseas supplier will not be billing you GST for the goods imported, but you have to pay the GST directly to the Custom or the forwarder if they paid on your behalf.

MoneyWorks allows the user to open up to 90 opened financial periods. Once the maximum number of periods has reached, the user has to close some of the older periods to open up a new period.

Besides bug fixes and improvements, Cognito added a new Profit and Loss by Date Range report into the MoneyWorks accounting system.

Product costing gets complicated when involving landing costs.

Cognito has released MoneyWorks Datacentre 9.0.3 update. Besides bug fixes and performance improvement, the import bank statement feature now supports the CSV format. The complete change history of v9.0.3 is available on the Cognito website.