Tag Archives: MoneyWorks

Where are the customised forms and reports stored?

Software: MoneyWorks accounting software

MoneyWorks has the built-in tool which helps the user customise forms and reports to meet the business needs. You can create forms such as invoice, credit note, purchase order, payment voucher, receipt, etc., and store them in the Custom Plug-ins folder.

Standard and Custom are the two Plug-ins folders available in MoneyWorks. The Custom Plug-ins folder store all customised forms, reports, script, import MAP, etc.; whereas the default reports and forms are in the Standard Plug-ins folder. You should not store the customised forms and reports in the Standard Plug-ins folder as it may get replaced during the software update.

The ‘Signing’ mechanism restrict access to the customised forms and reports (from the File menu, Signing), you have to sign the forms or reports before sharing it with the users.

Signing

To share, copy and paste the signed forms and reports to other user’s Custom Plug-ins folder if you are using MoneyWorks Gold accounting software. As for the Datacentre, upload it to the server via the upload wizard and MoneyWorks will distribute the forms and reports to the users when they log in.

 

Refer to the MoneyWorks v7 User Guide:

  • Page 44, Managing Plug-ins
  • Page 297, Protecting Reports and Forms by Signing

Fixed Assets

Fixed assets, which is a non-current asset, is a balance sheet account. The Plant and Machinery, Furniture and Fittings, Office Equipment, etc. are fixed assets.

It is common for small business accounting software not includes a fixed assets module; a module which allows the user to tracks and calculates depreciation of an individual asset automatically.

You can use a spreadsheet as a fixed assets register if the requirement is simple. Do consider a fixed asset management software if you have outgrown a ‘spreadsheet’ asset register or get a custom solution which tailors to your need. Tracking and reconciling assets can be a complicated process, especially when you have hundreds or thousand of them (and in multiple locations).

The asset, which you have purchased, need to update in both accounting software and the fixed assets register. It debits the fixed asset account and credits accounts payable or a bank account (depending on the transaction type or accounting method) when recording the transaction in an accounting system.

The spreadsheet (asset register) capture information such as the assets ID, date acquired, description, cost, depreciation, accumulated depreciation, and net book value. Optionally, you may include the serial number, supplier, supplier’s invoice date and reference number, warranty expiry date, asset location, who uses it, etc. (Do consult your accountant if you do not know how to create an asset register with a spreadsheet for your region).

Fixed Assets

Based on the fixed assets register, record the monthly or yearly depreciation via a general journal; it debits depreciation expense and credit accumulated depreciation account.

It may be good to have the asset register separated from the accounting system. When you changed accounting systems as your business grow or change of business model, it does not affect the asset register.

 

 

 

The Salesperson

Software: MoneyWorks accounting software

A salesperson is a representative of a company selling goods and services to the other parties (the client). Often, we measure the productivity of the salesperson by the revenue they bring into the company.

You can use the Salesperson field in MoneyWorks to record the name of the salesperson in charge. Then, use an analysis report to analyse the revenue by each salesperson.

You can learn more about analysis report from the page G-345 of MoneyWorks v7 User Guide.

Below sample is using the source file from Transaction and break down the report into Salesperson, Customer name, and product code (you can change or remove any of the breakdowns which you think is not relevant).

moneyworks-analysis-report

This analysis report shows the quantity, net sales, cost, margin, and margin percentage (you can add or remove any irrelevant columns). Besides, you can also arrange the report in a list, report, or table format.

Analysis report provides a powerful way of extracting information for business decision making. You can create a report which breaks down the product sold by customer, the cost (or income) by a job, the Customer purchases by period, and etc.

The User Guide provides a step-by-step guide to creating an analysis report, try it out!