Software: MoneyWorks #accounting software We discussed how to use the “Quantity Price Break” in our earlier post, showing you how to set up the item with up to five levels of price break for each product. Besides the standard quantity price break, you can have the quantity price breaks on additional units only. You can […]

Software: MoneyWorks #accounting software Quantity Price Breaks The A and B price levels can also have up to five different price levels dependent upon the quantity purchased. This is activated by turning on the Quantity Price Breaks option. — MoneyWorks v7 User Guide page G-239 If your company has a volume discount policy for bulk […]

Software: QuickBooks accounting software You can classify an item in QuickBooks as a Service, Inventory or Non-Inventory type. When an inventory item is purchased, QuickBooks will debit the Inventory Asset account and credit the Accounts Payable. Only when the item is sold, QuickBooks will then debit the Cost of Goods Sold account and credit the […]

Software: MoneyWorks version 7 accounting software When creating a Product item in MoneyWorks accounting software, you have an option of setting  it up as “Count it” or “Stock it”. If you just want to count the quantity on hand without tracking stock value on hand, then you can just check the checkbox for “We Count it”. […]

Software: MoneyWorks accounting software Check Stock Holdings: In MoneyWorks Gold only, if you want to be warned of an out-of-stock condition as you enter a sales transaction, turn this option on. This may slow down data entry. — Page 190 of the MoneyWorks User Guide From the Document Preferences, Data Entry tab, check the checkbox […]

Software: MoneyWorks accounting software Stocktaking (or inventory checking) is a process of verifying the stock (inventory) physically. It’s a process to check the quantity and verify the condition of the stock you have on-hand. Before doing the regular stocktaking in MoneyWorks, you should post all the stock related transactions and make a backup of your […]