Tag Archives: MoneyWorks accounting software

Product Code and Supplier’s Code

Software: MoneyWorks accounting software

Product code is a unique number (or alphanumeric) use to identify an item. The unique product code for reselling a product can be different from ordering from the supplier, the supplier code.

For example, you own a retail shop selling Television. You sell various brands and models which purchase from multiple manufacturers and distributors. To keep a searchable inventory list, you may create the product code such as:

ABrand32LEDTV
ABrand43LEDTV
ABrand52LEDTV
BBrand32LEDTV
BBrand41LEDTV
BBrand61LEDTV
CBrand52LEDTV
CBrand61LEDTV

Sort inventory by brands helps in stocktaking, especially in a consignment or SOR (Sales or Return) business model. The product looks neat and searchable but may mean nothing to a vendor when you place an order. Vendor may have their unique product code, the supplier’s product code, which you are required to show on the purchase order.

SupplierCode

Use the Lookup (Detail.StockCode, “Product.SupplierCode”) function in the form to find the supplier’s product code of the item. You still use the internal unique product code in the order transaction, but prints the supplier code instead.

To automate the ordering process, add the usual supplier in each item; this generates a Purchase Order from the Sales Order once you have insufficient quantity on hand.

MoneyWorks is simple but yet powerful, sign up a demo to understand how to use MoneyWorks to manage your inventory and finance.

Multiple Branches

Software: MoneyWorks accounting software

You may have customers that have multiple branches which require you to invoice and deliver goods to the outlets but send a consolidated statement to the HQ at the month-end.

First, have the debtor setup with same company name but a different delivery to address in MoneyWorks accounting system. Then, add a dot (.) after the customer name code to group the debtors, and a branch code after the dot to differentiate the branches. Each branch is a debtor, which allow the user to create invoices and print a consolidated statement at the end of the month.

consolidated

Assuming debtor ABC Co (name code ABC_CO) has two branches. To create them in MoneyWorks, first, you amend the debtor code to ‘ABC_CO.’; and two more debtors as ‘ABC_CO.br1’ and ‘ABC_CO.br2’. Any debtor with name code started with ‘ABC_CO.’ will group as one company when printing statement.

You can improve the presentation of the Accounts Receivable Ageing report by adding the HQ Name code (ABC_CO.) into a category or custom field and subtotal by this field when printing report. Highlight the main (ABC_CO.) to print a consolidated statement or print a branch statement by highlighting the branches code.

Book a free demo today to have an understanding of how MoneyWorks helps in managing your business finance.

MoneyWorks 8.1.6 update

Cognito has released an update 8.1.6 for MoneyWorks accounting software.

QR Code

QR Code generation in forms and reports is a new feature launched in version 8.1.6. You can consider adding a QR code on the invoice form to ease the goods return process.

Visit the Cognito website for the change history of version 8.1.6, to find out the bugs fixes and improvements of this new update.