Use the “Create Credit Memo/Refund” feature in QuickBooks accounting software to record the return of goods/services from a customer…

Record a Hire Purchase transaction in QuickBooks accounting software

Software: MoneyWorks #accounting software By default, MoneyWorks does not show the tax column in transactions windows such as Sales Invoice and Purchase Invoice. When recording a transaction, you just need to select the tax code and let MoneyWorks do the tax calculation automatically. However, due to rounding differences, the GST amount on the bill you […]

Software: MoneyWorks #accounting software To show the GST amount of each item sold in the invoice, you need to add a column into the template with the GST amount field. You should use the Detail.Tax and not the Transaction.TaxAmount field. The Detail.Tax field is the GST amount of each item sold, Whereas the Transaction.TaxAmount is […]

Software: Intuit #QuickBooks Desktop #accounting software The ledger balance of the bank account as at the last financial year-end closing can be use as the opening balance of the bank account in QuickBooks, or derive the opening balance from the closing balance of the bank statement and record the un-presented cheque and deposit separately. Most […]

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 […]