When the company is profitable, part of the earnings may return to the investor as a dividend. ..

For purchases made from a GST register trader in foreign currencies, the supplier has to reflect the GST payable on the invoice in Singapore dollars with an approved exchange rate. You, the buyer, should claim input tax based on Singapore dollar amounts shown on the tax invoice instead of conversion based on your in-house exchange rate.

Cognito has released the update 8.1.2 for MoneyWorks accounting software. This update includes an updated GST F5 Guide (Form 5) for Customer Accounting for prescribed goods.

GST register trader who supplies goods in foreign currency instead of Singapore dollar has to indicate the Singapore dollar equivalent GST amount on the invoice. The buyer who received the Bill has to record it based on the exchange rate stated in the Bill instead of the in-house exchange rate set in the accounting systems.

The integration between apps is seamless; for example, if your computer has Microsoft Excel installed it will open in Excel automatically when the report has output.

Cognito has released version 8.1r1 update for MoneyWorks Datacentre and Gold accounting software. This update fixes incorrect cost value for non-inventoried products in margin display of sales transactions. Visit Cognito website to view the change history. Upgrade to version 8 if you are still using an older version of MoneyWorks accounting software, or contact your MoneyWorks […]