GST Rate Change

Although you are not getting an auto-update on the new 8% GST rate, no worries; changing the GST rate in QuickBooks Desktop is not too complicated.

Besides using it as a test drive, the trial version can also use to reinstall MoneyWorks when changing new hardware. Select the appropriate platform (Windows or macOS) and the version you wish to reinstall from the download dropdown list when filling up the request form. You will then receive an email with the download link […]

Retention is money withheld by the customer of a contract (project); protect the customer against incomplete or defective works.

The current standard rated GST (G GST code) rate set in MoneyWorks is 7%, pre-loaded when you first created the document (the company file). You need to update the tax rate for the standard rated GST code to facilitate the rate change on 1 January 2023. 

Small businesses are usually more concerned about cash flow and day-to-day operation, but having a budget is extremely important when moving towards a new normal. With limited resources, it is more crucial to monitor the performance in an uncertain market.

December is the last month of the year.
It’s a time to celebrate with your loved one.
It’s a time to regroup after being disrupted by the COVID pandemic for two years.
It’s time to have a resolution for the new year.
It’s time to close your book if your company’s fiscal year-end is in sync with the calendar year-end.
It’s time for a stocktake if you are closing the book.