Software: MoneyWorks accounting software The default payment term of the debtor is set in the Name profile of the debtor (under Pricing & Terms tab | Debtor Control section | Terms field). Assuming you have set the payment term of the debtor as “Within Days” and “30” days following (that is 30 days payment terms). […]

Software: MoneyWorks accounting software When purchasing a motor vehicle, often we made a down payment (deposit) and arrange the balances with a car loan. Assuming you purchase a motor vehicle at S$80,000.00 (S$85,600.00 with GST) and you paid S$10,000.00 as a down payment and take a loan for the remaining amount. Use the Purchase Invoice […]

MoneyWorks version 7 … Coming soon! The initial release will be for Datacentre users only. The user will be informed of the upgrade, new serial numbers and the download links. The Datacentre upgrade is covered under the software maintenance program. For Gold, Express and Cashbook user please contact us for the upgrade detail.

Software: QuickBooks accounting software Assuming the company is giving an interest free loan of $10,000.00 to “Staff A” and will deduct $500.00 monthly from his salary as a repayment for 20 months. Before recording this transaction into QuickBooks, first you need to setup the Staff Loan account as an Other Current Asset type of account. […]

Software: QuickBooks accounting software Assuming your financial year (fiscal year)  is from Jan to Dec and you paid an insurance premium of $1,200.00 in the month of Aug 2013 for 6 month period from Aug 2013 to Jan 2014. You can use a write cheque function in QuickBooks to record this payment transaction. In the […]

Software: MoneyWorks accounting software Assuming your base currency is in Singapore Dollar (SGD) and you have some invoices in US Dollar (USD), the Gross column of the Sales Invoice list will show as the USD amount instead of SGD. To view the Gross value of the transaction in a base currency (SGD), you can add […]