Software: MoneyWorks accounting software Received your bank statement for the month of January 2012, it shows a closing balance of $100,500.00. You discovered that you had accidentally recorded a payment transaction, rental expense for the amount of $2,568.00, for the month of January into the month of February. This cheque was wrongly posted in MoneyWorks […]

Software: MoneyWorks accounting software When ordering large quantity or high value of goods from supplier, often supplier requires you to place a deposit (or advance payment) before goods is being delivered or manufactured. You need to create a non-stock item, Deposit, and associated this item with both Advances to Supplier (current Assets account) and Advances […]

Software: MoneyWorks accounting software When your customer is also your supplier, in small business, you usually prefer to contra off the amount instead of exchanging cheque. In accounting point of view, contra is a simple process; you just need to debit your Accounts Payable with the Accounts Receivable for the amount owing and follow by […]

Software: MoneyWorks accounting software When purchasing office equipment or machinery, business owner frequently use Hire Purchase to finance their purchases. There are multiple accounts involved in hire purchase transactions; there are fixed asset, Hire Purchase Creditor, Interest in Suspense and HP Interest expense accounts. Assuming you purchase a new Office Equipment at $20,000 and financed […]

Software: MoneyWorks accounting software MoneyWorks allows you to clone a new document (data file) from your existing document. Reasons for cloning a new document could be due to setting up a new company and would like to use the same item list, name list, chart of account and users; or could be you have messed […]

Software: MoneyWorks accounting software MoneyWorks version 6 allows you to export your report to Excel. It exported the file with a coloured background (version 6.0.x to v6.1.1r1 are having the coloured background in Excel when report is being exported). Hence, this background covered the gridlines in Excel. With a coloured background, it made the viewing […]