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Cognito has released version 8.1r1 update for MoneyWorks Datacentre and Gold accounting software. This update fixes incorrect cost value for non-inventoried products in margin display of sales transactions. Visit Cognito website to view the change history. Upgrade to version 8 if you are still using an older version of MoneyWorks accounting software, or contact your MoneyWorks consultant to find out more about version 8. #MoneyWorksAccountingSingapore #DesktopAccountingSystem

Although you cannot change the field setting, you can modify the print. An 'if()' function can be added to the invoice template if y

You will want to sell off those products which have an earlier expiry date or belong to an early batch if you are in a food-related or medical-related business. Hence, indicate the batch number in Sales Invoice or Pick List is important to you. MoneyWorks accounting software version 8 comes with the batch number and expiry date tracking feature which helps to track the batch number of the product in invoices and stock on hand. This feature can be turned on from the Document P

MoneyWorks accounting software has a free plug-in, Multi-location, which allows you to track inventory from multiple locations, such as inventory in different warehouses, branches, or shops. In our earlier post, we explained how to print a Stocktake List report by the different location, which you have set up in the software. The Multi-locations plug-in adds a "location" extension behind the stock code such as "StockCode/A" or "StockCode/B" and also recorded the "location" in

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A Sales Discount (or Cash Discount) is a discount given at the point of payment. It encourages prompt payment and helps in cash flow management. Example, you give a 10% discount for invoices which has paid within the payment terms or earlier. To help in managing the accounts receivable, you can set a "Prompt Payment Discount" in the Pricing & Terms tab of the debtor profile. Once the perimeter has setup, MoneyWorks will calculate the validity of the invoices that are enjoying

What is a Pro Forma Invoice? A Pro Forma Invoice is not a "real invoice". It is a document states the goods or services, which you yet to supply. Often, the Pro Forma Invoice is used to declare the quantity, value and other shipping detail of the goods for the customs purpose. You can use the Sales Order or Quote to record the Pro Forma Invoice detail, and making use of a Sales Order/Quote template to print as a "Pro Forma Invoice". If you are requesting an advance payment (

Often, the retailer creates a bundle to encourage sales, especially toward the end of the school holiday, The Great Singapore Sales or Christmas season. For example, the computer retailer may bundle the computer with a headphone or a wireless mouse; or a sports shoe seller may give away a sports shoe bag if the customer buys a pair of sports shoe from him. You can create an assembly item, which consists of the bundled products (the Bill of Material, BOM), and uses it in the s

A department is basically a further level of breakdown in an account (in accounting parlance, a department is a subledger). Departments are useful when the same income or expense codes are applicable to more than one similar item. Without departments each item would need an individual general ledger code, and potentially your chart of accounts could get very large. With departments, the same general ledger code can be shared by more than one item. — MoneyWorks v7 User Guide p

The MoneyWorks Datacentre 7.3.7 update has released. Please view the change history from the Cognito website. #Updates #Macaccountingsoftware #MoneyWorks #Singapore #Malaysia #HongKong

We discussed how to use the "Quantity Price Break" in our earlier post, showing you how to set up the item with up to five levels of price break for each product. Besides the standard quantity price break, you can have the quantity price breaks on additional units only. You can find the "Additional Units Only" checkbox in the Selling Info tab of the Product. Example: The product BB100A has the "additional units only" price break of: Base price: $22.00 # Units 10: $21.00 #

A large Portable Document Format (PDF) size of a Sales Invoice or Purchase Order form could be due to the embedded images such as the logo or promotional banner. You may do a simple test by removing the images from the form before printing to a PDF format, consider changing the image such as from a PNG to a JPEG format if the file size has dropped tremendously. #Template #Macaccountingsoftware #accountingsoftwareSingapore #Singapore #Malaysia #HongKong #MoneyWorksaccountingso

Open the payment transaction, click the Print icon and follow by the OK button, to print a payment voucher. The payment voucher is using the Cheque/Remittance Advice form designer to create, which has a *.remt extension. The cheque specific fields such as payment reference number, payment date, and payee can be picked up from the special cheque pseudo-file via a Calculation Box Tool. Whereas the related invoices paid, which are the transaction fields, can be printed using a L

Quantity Price Breaks The A and B price levels can also have up to five different price levels dependent upon the quantity purchased. This is activated by turning on the Quantity Price Breaks option. -- MoneyWorks v7 User Guide page G-239 If your company has a volume discount policy for bulk purchase, you can use the quantity price break feature in MoneyWorks to ease the data entry. You can set up to five levels of quantity price break for each item. Once you have checked th

MoneyWorks Datacentre does auto backup the company file (data file). The backup and archive path are both set in the MoneyWorks Datacentre Console. The backup and archive path, by default, are set to point to local drive. You need to set the MoneyWorks Datacentre as a user who has the privileges to access the networks drive if you prefer to backup over the network. If checked, documents will get automatically backed up on any day that they are used (on first save or when they

In our previous post, we discussed how to record a trade discount given to a customer in the MoneyWorks Sales Invoice transaction. We recorded the discount percentage in the Discount field and the Extension (which is the detail line total) will calculate based on the Unit Price less the discount given multiplied by the quantity sold. Besides printing the percentage discount on the invoice form, you can print the discounted amount by inserting a discount field to the form. Fro

A Trade Discount is a discount given at the point of purchase. It reduces the list price as to encourage bulk purchase. In MoneyWorks, the Discount field is next to the Unit of Measure (UOM) field of a Sales Invoice. You enter a discount percentage in the Discount field whenever you give a discount to a customer. Assuming an item list price is $100 and you give 10% discount. When the item is picked up in the Sales Invoice transaction, $100 will show at the Unit Price field. Y

You recorded a foreign currency Term Deposit of US$100,000.00 with a period exchange rate of 0.72USD:1SGD. When the exchange rate has changed to 0.73USD:1SGD at the period end, MoneyWorks revalue the foreign currency. An exchange journal of debiting the Exchange Gain/Loss account and credit the Term Deposit account of S$1,902.69 passed automatically into MoneyWorks accounting system. Working: Original rate: US$100,000 / 0.72 = S$138,888.89 Adjusted rate: US$100,000 / 0.73 = S

Daylite CRM runs on a Mac operating systems. It integrates with the MoneyWorks accounting software via a connector. Daylite CRM helps track the communication you had with the customer, the schedule, tasks, projects and sales opportunities. It is a contact management system for individual and workgroup. You may visit Marketcircle website, the Daylite CRM developer, for more information on features and pricing. You can purchase the Daylite connector for MoneyWorks accounting so