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How to record a payroll entry?
EH Lim
  • Apr 8
  • 3 min

How to record a payroll entry?

Although the accounting system does not compute payroll, you still have to update the monthly payroll to the ledger
3 views0 comments
EH Lim
  • Mar 22
  • 1 min

MoneyWorks version 9.0.8 update

The new feature includes downloading the sales from Shopify, BigCommerce, and WooCommerce eCommerce store as a service for MoneyWorks
1 view0 comments
How to change the tax rate in MoneyWorks when the GST rate increase from 7% to 8%?
EH Lim
  • Mar 4
  • 2 min

How to change the tax rate in MoneyWorks when the GST rate increase from 7% to 8%?

The standard rated GST set in MoneyWorks is 7%, pre-loaded when you first created the company file with localisation setup as Singapore
4 views0 comments
Should I use a credit note or cancel the transactions?
EH Lim
  • Jan 28
  • 2 min

Should I use a credit note or cancel the transactions?

A credit note is for returns of goods or adjustments to past invoices. Whereas the cancel transaction for reversing a wrong entry.
4 views0 comments
What's your budget?
EH Lim
  • Jan 4
  • 2 min

What's your budget?

Having a budget is extremely important when moving towards a new normal. It is crucial to monitor the performance in an uncertain market.
6 views0 comments
Stocktaking
EH Lim
  • Dec 28, 2021
  • 2 min

Stocktaking

Stocktake is part of the financial year-end closing. Start the stocktake process before your long holiday break. Happy new year!
4 views0 comments
Why can't I open a new period?
EH Lim
  • Nov 29, 2021
  • 2 min

Why can't I open a new period?

Once the maximum number of periods has reached, close some of the older periods to open up a new period in MoneyWorks accounting system.
9 views0 comments
Profit and Loss by Date Range
EH Lim
  • Nov 9, 2021
  • 1 min

Profit and Loss by Date Range

Besides bug fixes and improvements, Cognito added a new Profit and Loss by Date Range report into the MoneyWorks accounting system.
6 views0 comments
Product costing
EH Lim
  • Oct 6, 2021
  • 3 min

Product costing

Product costing gets complicated when involving landing costs.
15 views0 comments
MoneyWorks Datacentre version 9.0.3 update
EH Lim
  • Sep 13, 2021
  • 1 min

MoneyWorks Datacentre version 9.0.3 update

Besides bug fixes and performance improvement, the import bank statement feature in MoneyWorks now supports the CSV format.
1 view0 comments
Nope, I had already paid!
EH Lim
  • Aug 30, 2021
  • 1 min

Nope, I had already paid!

The payment status of an invoice, find the related payment or a historical payment listing; MoneyWorks has features that an accountant needs
3 views0 comments
MoneyWorks version 9.0.2
EH Lim
  • Jul 27, 2021
  • 1 min

MoneyWorks version 9.0.2

Now, you can have an option to set the GST rounding to follow the Banker's rounding method or round up to the nearest half cents.
6 views0 comments
Insert a new line in Invoice or Order
EH Lim
  • Jun 7, 2021
  • 1 min

Insert a new line in Invoice or Order

Insert line item anywhere in the MoneyWorks accounting software's transaction by press down the Shift key + clicking on the Add Line button.
22 views0 comments
New release! MoneyWorks version 9
EH Lim
  • May 17, 2021
  • 2 min

New release! MoneyWorks version 9

A Search function in the report preview and Fixed Assets module is among the new enhancement of MoneyWorks accounting software version 9.
19 views0 comments
Manage non-profit organisation's programs with the Job feature
EH Lim
  • May 5, 2021
  • 2 min

Manage non-profit organisation's programs with the Job feature

You can use the job feature in MoneyWorks accounting system to track the projects and programs for the non-profit organisation.
29 views0 comments
Itemised discount vs a Lump sum discount
EH Lim
  • Apr 21, 2021
  • 2 min

Itemised discount vs a Lump sum discount

MoneyWorks accounting software's product analysis does not include the discount on the product itself.
20 views0 comments
How to record a credit note?
EH Lim
  • Apr 13, 2021
  • 2 min

How to record a credit note?

MoneyWorks uses the reverse sales invoice (negative invoice) method to record a credit note.
37 views0 comments
GST on imported goods
EH Lim
  • Mar 30, 2021
  • 1 min

GST on imported goods

The Customs (or the forwarder may pay on your half) will impose the GST on the imported goods when goods arrived in Singapore.
19 views0 comments
Error correction
EH Lim
  • Feb 26, 2021
  • 1 min

Error correction

It does not delete when you cancel a transaction; instead, it creates a reverse entry to correct it and forms an audit trail for the account
12 views0 comments
How to use the contra feature in MoneyWorks accounting system?
EH Lim
  • Sep 29, 2020
  • 1 min

How to use the contra feature in MoneyWorks accounting system?

A contra, in MoneyWorks accounting system, is to knock off the credit note of the same customer or supplier with their invoice.
56 views0 comments
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