Tag Archives: software

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)
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.



How to track job and project in accounting software?

Software: MoneyWorks accounting software

It’s essential for the job or project-based businesses to measure job profitability. It gives the business owner a breakdown of the job-related income, expenditures, and a bottom line of whether the job is making money.

You have an option of enabling the full job costing and time billing feature, or just showing the job column to enter the job references in the transaction when turning on the job function from the Document Preferences of the MoneyWorks accounting software.

By showing the job column alone allows you to tag a job code on the GL (general ledger) account when recording a transaction such as Sales Invoice, Purchase Invoice, or Payment.

On the other hand, if you do keep stock (inventory) for both trading and project, or require job sheet to enter the time cost or resources used; then turning on the full job function is a better consideration.

Job Preferences

MoneyWorks debits the cost of goods sold and credits the accounts payable (or bank) when a product has tagged to the job in a purchase invoice (or payment). On the other hand, the product cost transferred from inventory assets to the cost of goods sold when the product transferred from the existing warehouse to the job via a job sheet entry.

Job transaction

Job account summary, job profit and loss detail, etc. are job reports which can print from the report menu once transactions have recorded; or you may create an analysis report from the File menu based on your requirement. It gives an income and expenses overview of the job and eases the tracking of the job profitability.

Job Reports

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Recurring journal entry

Software: MoneyWorks accounting software

The recurring transaction is a transaction having the same accounting information which records into the accounting system on a periodical basis. Prepayment, accrual, depreciation, maintenance service, or rental invoices are examples of a recurring transaction. The accountant has to record the transaction manually when due or uses a recurring feature in the accounting software to automate the process.

For example, you invoice a customer for maintaining their office IT at $3,600 per year but only to realise the income progressively at $300 per month. In this case, you have to issue an invoice of $3,600 to the customer and charge the amount to a deferred income account (which is a current liability account type) instead of a sales account. This invoice debit accounts receivable and credit deferred income $3,600, and debit the bank and credit accounts receivable when payment received from the customer.

Next, enter a journal to debit deferred income and credit sales account of $300 and set the journal as a recurring transaction to record into the accounting system automatically when due for 11 more months. $300 will show in each month profit and loss report, and cumulate to $3,600 after the final recurring transaction has recorded.

Recurring journal

Similar concept applied to the purchase invoice and payment. Assuming you paid for insurance which premium covers until next financial year. You can use the prepayment account instead of insurance expenses when recording the premium paid to the insurance company. The payment transaction debits the prepayment (which is a current assets account type) and credits the bank. Then, enter a journal to debit the insurance expense and credit prepayment for the next six to twelve months or until the premium ends.

The recurring transaction feature can apply on a Sales Invoice, Purchase Invoice, Receipt, Payment, or journal; the automatic process helps improve the productivity of an accountant and bookkeeper.

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