Besides the GST rate changed from 7 to 8% as of Jan 2023, the new MoneyWorks 9.1.1 release also incorporated the new requirement for GST reporting (please refer to the Singapore GST Changes and MoneyWorks). You may refer to Cognito’s document or a blog post from Solarsys on changing GST rates in MoneyWorks. MoneyWorks 9.1.1 […]

GST Rate Change

Although you are not getting an auto-update on the new 8% GST rate, no worries; changing the GST rate in QuickBooks Desktop is not too complicated.

When entering a transaction (e.g. a purchase invoice) in MoneyWorks, the GST code used in the detail line follows the GST code set in the account used.