A stocktake is a physical count of your inventoried items and is necessary on a periodic basis, no matter how careful you are, the actual stock on hand may differ from the record in MoneyWorks accounting software.

MoneyWorks accounting software — Backup and lock the period once you have completed the financial year-end closing to prevent other users from recording transaction into the wrong period.

Software: MoneyWorks accounting software Stocktaking (or inventory checking) is a process of verifying the stock (inventory) physically. It’s a process to check the quantity and verify the condition of the stock you have on-hand. Before doing the regular stocktaking in MoneyWorks, you should post all the stock related transactions and make a backup of your […]

Software: MoneyWorks accounting software To-Do list for Year-End-Closing: Accrual Prepayment Depreciation Provision Stock take Stock Adjustment Stock Reports (MUST PRINT) Bank Reconciliation Home Currency Adjustment Financial Reporting Backup Lock your period To some accountant closing the book can be a tedious accounting process and to request your sales team to stop issuing sales invoices while […]

This user of mine was formerly using UBS accounting software. She just switched over to QuickBooks. She asked me how to start a new period in QuickBooks. In QuickBooks there is no "period". Unlike some accounting software that you have to do batch posting for your transactions, opening new period for your entries, set document […]