Software: MoneyWorks accounting software The Contra feature in MoneyWorks is referring to contra a credit note against an invoice for the same debtor or creditor. You can’t use the Contra feature to contra invoices between a debtor and a creditor. From the Command menu, select Adjustments and follow by the Contra Invoices function to contra […]

Software: MoneyWorks accounting software You can revert your document to the last saved version, or (if you have the Enable Rollback and Crash Recovery File Preference option set—page 188), restore it to a particular point in time since the last save. This is useful if you find you have made some catastrophic error, such as […]

Software: Intuit QuickBooks accounting software The foreign vendor, which you imported goods from, is not a GST register trader; hence they will not indicate the GST on their bill. However, when the goods arrived Singapore, you are required to pay the GST at the Custom (Sometime the forwarder may pay the GST on behalf of […]

Software: Intuit QuickBooks accounting software You received a foreign currency bill for the amount of USD10,000.00. Since you did not turn on the multiple currency feature, you record the bill in SGD. Assuming you decided to use the exchange rate of 1USD to 1.3000SGD, the SGD amount booked will be SGD13,000.00. The exchange rate given […]

Software: Intuit QuickBooks accounting software To simplify the data entry, by default, QuickBooks is using an Accounts Payable account to track all the Bills received. However, some accountant may prefer to separate the Sundry Creditor from the Trade Creditor when printing the Accounts Payable Ageing report. You can use the Vendor type to segregate the […]

Software: Intuit QuickBooks accounting software You may give your purchaser a sum of money to go overseas to source for new products, make payment and arrange shipment back to your country. Your purchaser is like a “walking” ATM (Automated Teller Machine), help making payment as and when required. You may create this “Purchaser” as a […]