Tag Archives: Singapore

How to add a memo line in Sales Invoice?

Software: MoneyWorks accounting software

Sometime you may want to insert a note before or after an item when preparing an invoice. It could be delivery information for the driver, project information which you want to show in the invoice, or shipping information such as the port of discharge, port of destination, estimated date of arrival, etc.

You may add an asterisk (*) before an item code, link it to a memo income account (to prevent confusion with the actual sales account), and omit the * item from printing on the invoice form. For example:

Item code: *POD
Name: Port of Discharge:
Sales account: Memo income

asterisk item

Then, apply the below formula on those columns which you want to leave it blank when using an * item in the invoice form, columns such as stock code, quantity, unit price, tax code, and the amount.

Formula sample:

if (Detail.StockCode = “*@”, “”, Detail.StockCode)
or
if (Detail.StockCode = “*@”, “”, Detail.UnitPrice)

form design

In this way, only the description column prints the information which you have entered in the detail description column.

Print Invoice

Consult your MoneyWorks consultant if you need help in designing forms.

 

Reference: MoneyWorks User Guide, Form Design.

 

 

Refund an overpayment in QuickBooks

Software: QuickBooks Desktop accounting software

You have an option in QuickBooks Desktop accounting software to offset the overpayment received with the outstanding invoices via set credit feature or refund customer the overpaid amount.

Highlight the outstanding sales invoice from the customer payment transaction, click the Set Credit button and select the credit (overpayment) to offset with the invoice. You have to do the offset process a few times if the overpaid amount is supposed to knock off with multiple invoices.

On the other hand, you need to amend the original customer payment (the overpaid transaction) if you need to create a refund to the customer. At the lower left corner of the customer payment window, select the ‘Refund the amount to the customer’ radio button and click the ‘Save & Close’ button to continue with the refund.

Refund from customer payment in QuickBooks

You will see a payment transaction window on the following page, and then select the relevant bank account, payment mode and change the date if required.

Refund overpayment in QuickBooks.png

QuickBooks will update the accounts receivable and bank account once you have clicked the OK button.

Intuit QuickBooks 2019 is available, contact us if you like to upgrade your QuickBooks.

 

Currency name versus currency code

Software: MoneyWorks accounting software

When adding a Transaction.currency field into the sales invoice or receipt template, it prints the currency code used in the transaction. For example, to print an invoice total of US$1,000, you use:

Transaction.currency+Transaction.gross

The invoice total prints as ‘USD1,000.00’.

On the other hand, it may be more appropriate to show the currency name instead of the currency code when converting the invoice total in English. That is, print the invoice total as ‘US Dollar One thousand dollar only’ is better than showing the currency code ‘USD’.

The currency name, such as ‘US Dollar’, stores in the Off-ledger table, which require to use a Lookup function

Lookup (Transaction.currency, “Offledger.description”)

to pull out the currency name.

It prints as ‘US Dollar One thousand dollar only’ when adding the formula in front of the DollarsToEnglish ( ) function of the Transaction.gross.

Lookup (Transaction.currency, “Offledger.description”) + ” ” + DollarsToEnglish (Transaction.gross)

template design

You may refer to the MoneyWorks user guide to have more information on form design and formula use.

Sign up a free demo to find out how MoneyWorks accounting software helps manage your business finance more efficiently.