The multi-currency feature in MoneyWorks accounting software will be handy for growing businesses that trade globally.

Software: MoneyWorks #accounting software You can have foreign currency set in accounts such as the bank, accounts receivable and accounts payable. When there is a rate change, MoneyWorks automatically creates two exchange rate journals. One is to revalue the foreign currency balances due to a change in the exchange rate; another is a reverse of […]

Software: Intuit #QuickBooks #accounting software Overpayment — The amount paid is greater than the amount due. An accounting software helps the business owner track the receivable and payable efficiently and minimises accounting error such as overpayment. When an overpayment occurred, you can either give a refund or keep it as a negative receivable and offset […]

Software: MoneyWorks #accounting software A supplier may request a deposit or an advance payment when you place an order if you do not have a credit payment term arranged. The accounting entries get complicated when the transaction is in a foreign currency. The accounts such as the Bank, Accounts Receivable and Accounts Payable can be in […]

Software: Intuit #QuickBooks accounting software Under the Singapore GST regulation, you are required to show the total amount payable, for both excluding and including of the GST, and both the GST rate and amount in Singapore Dollars equivalent on a foreign currency invoice. There are three methods of adding the Singapore Dollars equivalent for both […]

I received a support email, this user need to create two invoices to a customer; one invoice need to be in Singapore dollar and the other required to be in US dollar. She had a problem when she tried to create this customer name with a US dollar; QuickBooks prompted: This name is already in […]