EH Lim
MoneyWorks accounting software update version 8.1.5
For a non-profit organisation such as charities and schools may use job tagging feature to track project like upgrading facilities or social
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EH Lim
- Nov 14, 2018
- 2 min
Recurring journal entry
The recurring transaction is a transaction having the same accounting information which records into the accounting system on a periodical b
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EH Lim
- Oct 17, 2018
- 3 min
Inventory cost adjustment
The cost of sales of an inventory item in MoneyWorks accounting system realised when the product sold, whereas the non-inventory item realis
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EH Lim
- Aug 27, 2018
- 1 min
How to show the cost price of a product in the item list?
By default, the CostPrice field is not in the item list. To have it in the item list, you need to add it from the Customise List View (under
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EH Lim
- Jun 6, 2018
- 1 min
How to use RCM GST code in MoneyWorks accounting system?
The Tax Rate list includes RCM, which mapped to the ES33 (Reg 33 Exempt) GST code when localisation in MoneyWorks has set to 'Singapore G.S.T.'. You are supposed to tag RCM GST code to the exchange gain/loss account once the multiple currencies feature has turned on, it helps to segregate exchange gains and loses and record the absolute value to the Box 3 (Total value of exempt supplies) of the GST Form 5 report. An absolute value is to report a negative value, such as exchan
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EH Lim
- Apr 5, 2018
- 1 min
MoneyWorks accounting system supports multiple entities
There is no restriction on the number of company files you can create in MoneyWorks. You can create as many files as you wish with a license
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EH Lim
- Apr 3, 2018
- 1 min
We have moved!
You need to change the business address in forms such as Sales Invoice, Purchase Order, etc. when moved to a new location. Update the Postal and the Delivery address from the Company Details, under the Show menu, if you are not using a preprinted form. If the template designed with the Address fields inserted instead of using a text box for addresses, then MoneyWorks will pick up the new address automatically. However, if you are using a text box for addresses, then manually
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EH Lim
- Apr 2, 2018
- 1 min
MoneyWorks Now, a cloud-based accounting system
Cognito has commissioned a MoneyWorks Now Node in Singapore. Businesses in both Singapore and Malaysia who are looking for an industrial-strength cloud-based accounting system can subscribe to MoneyWorks Now if you prefer to use a public cloud instead of the private cloud offered by an in-house MoneyWorks Datacentre. Unlike the traditional cloud-based solution which has to compromise using a slow, limited functionality of a browser; MoneyWorks Now offers a full native user-in
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EH Lim
- Mar 2, 2018
- 1 min
Specify the currency conversion rate (Exchange Rate)
For purchases made from a GST register trader in foreign currencies, the supplier has to reflect the GST payable on the invoice in Singapore dollars with an approved exchange rate. You, the buyer, should claim input tax based on Singapore dollar amounts shown on the tax invoice instead of conversion based on your in-house exchange rate. For example, your in-house exchange rate is 1SGD:0.7400USD, but received a Bill from a supplier at a rate of 1SGD:0.7431USD. Then, you should
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EH Lim
- Dec 20, 2017
- 2 min
Output Report from MoneyWorks to MS Excel
MoneyWorks give you various options to output the reports. You can output reports from MoneyWorks to Preview, Printer, Email, HTML File, Text File, Numbers, Excel, Word, Clipboard, and PDF File. The integration between apps is seamless; for example, if your computer has Microsoft Excel installed it will open in Excel automatically when the report has output. If you are connecting MoneyWorks Datacentre via Microsoft Remote Desktop instead of manual IP address method, you need
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EH Lim
- Dec 12, 2017
- 1 min
MoneyWorks v8.1.r1 update
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
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EH Lim
- Nov 24, 2017
- 2 min
0-day payment term
Although you cannot change the field setting, you can modify the print. An 'if()' function can be added to the invoice template if y
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EH Lim
- Oct 24, 2017
- 1 min
An accounting software with batch and expiry date tracking
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
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EH Lim
- Apr 20, 2017
- 2 min
How to use a MoneyWorks filter?
MoneyWorks | Desktop (Mac & Windows) and Cloud-based accounting systems for small businesses The transactions which you have recorded goes to the respective list. For example, when you record a Sales Invoice, it goes to the Sales invoice list; and a Purchase Invoice goes to the Purchase Invoice list, etc. The list contains years of data which you have recorded. Use the Search function in MoneyWorks to quickly find the transaction(s) instead of scrolling up and down on the lis
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EH Lim
- Mar 7, 2017
- 2 min
Fixed Assets
Fixed assets, which is a non-current asset, is a balance sheet account. The Plant and Machinery, Furniture and Fittings, Office Equipment, etc. are fixed assets. It is common for small business accounting software not includes a fixed assets module; a module which allows the user to tracks and calculates depreciation of an individual asset automatically. You can use a spreadsheet as a fixed assets register if the requirement is simple. Do consider a fixed asset management sof
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EH Lim
- Mar 2, 2017
- 1 min
Out of Stock
MoneyWorks will prompt when you try selling a product which does not have enough stock on hand. Under the Data Entry tab of the Document Preferences, check the 'Check Stock Holdings' checkbox to activate the prompt for out of stock feature. With the 'Check Stock Holdings' feature turned on MoneyWorks will compare the selling quantity against the stock on hand when you try to enter a product in the sales invoice. You get an 'Out of Stock' warning message when the stock on hand
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EH Lim
- Feb 16, 2017
- 1 min
Import Names
Yes. You can import names such as Supplier and Customer into MoneyWorks accounting software instead of entering it manually when migrating from other accounting software (You may have to tidy up the source file if the exported file from your existing software is messy, garbage in garbage out) Apart from the standard fields such as the Company name, contact person, address, phone, fax, and email; you need to prepare the file with Name Code and Name Type. The Name Code is a cod
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EH Lim
- Feb 8, 2017
- 1 min
Job tagging
Is your job making money? Job tracking is essential if you are in project business such as an event organiser, subcontracting, software development, etc. Have a good understanding of the job profitability, know where your money goes, what type of job is losing money, which sector to grow is an important factor for a business to survive. You need tools to help to monitor the profitability of a job. MoneyWorks, a small business accounting software, has a job function which allo
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EH Lim
- Feb 6, 2017
- 1 min
The Salesperson
A salesperson is a representative of a company selling goods and services to the other parties (the client). Often, we measure the productivity of the salesperson by the revenue they bring into the company. You can use the Salesperson field in MoneyWorks to record the name of the salesperson in charge. Then, use an analysis report to analyse the revenue by each salesperson. You can learn more about analysis report from the page G-345 of MoneyWorks v7 User Guide. Below sample
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EH Lim
- Jan 12, 2017
- 1 min
Stock valuation by location
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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