EH Lim
Stock item
When record a purchase invoice with the stock item A1001, the Stock On Hand account is debited and the Accounts Payable account is being...
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EH Lim
Oct 17, 20141 min read
MoneyWorks accounting software v7.1.7 update
MoneyWorks accounting software version 7.1.7 update is now available. Please view the change history here. #accountingsoftware...
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EH Lim
Oct 11, 20141 min read
Daily exchange rate or monthly exchange rate?
Which exchange rate should I be using? Daily exchange rate or monthly exchange rate? From the IRAS e-tax Guide “GST: Exchange Rates for...
54 views0 comments
EH Lim
Sep 29, 20141 min read
MoneyWorks 7.1.6 update is now available
Note: due to changes in the network protocol, MoneyWorks Gold 7.1.6 will not log in to an older server. Be sure to update servers first....
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EH Lim
Sep 22, 20141 min read
Set up the default bank account
When you have multiple bank accounts and like to set a default bank account at the payment or the receipt transaction, you may do so by...
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EH Lim
Sep 18, 20141 min read
Nonrefundable Deposit
Assume your client confirmed a project with you and agree to pay a nonrefundable deposit of $10,000. The deposit will be used as a part...
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EH Lim
Sep 2, 20142 min read
Payment Received on behalf of third parties
Assume that you own 2 companies, CoA and CoB. You have a debtor, DebtorA, owes CoA $1,000 and CoB $2,000. Instead of making payment to...
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EH Lim
Aug 14, 20141 min read
GST code used on the Deposit account
If you need to have multiple GST codes when collecting deposits from customer or made advance payments to a supplier, then you are...
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EH Lim
Jul 10, 20141 min read
MoneyWorks Datacentre 7.1.5 Update
The MoneyWorks 7.1.5 Datacentre update is now available as part of your annual software maintenance. Amongst other enhancements, this...
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EH Lim
Jun 29, 20142 min read
The Exchange Gain/Loss, how it works?
How it works? Assume that as of 31 May you had set the exchange rate for 1SGD to 0.8000USD (sing the month end exchange rate). You...
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EH Lim
Jun 21, 20142 min read
GST for the benefits provided to employees
Generally, you are required to account for output tax on the goods given to your employees or for temporary use by employees except when...
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EH Lim
Jun 15, 20141 min read
Out of stock warning
Check Stock Holdings: In MoneyWorks Gold only, if you want to be warned of an out-of-stock condition as you enter a sales transaction,...
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EH Lim
Jun 13, 20141 min read
IRAS ASR
MoneyWorks Gold & DataCentre is listed on the IRAS Accounting Software Register (IRAS ASR) #accountingsoftware #moneyworksaccountingsoftware
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EH Lim
Jun 7, 20141 min read
Year end closing
Based on the financial period set, MoneyWorks automatically transfer the net income, “Plus Current Year Operating Surplus (Deficit)",...
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EH Lim
Jun 6, 20141 min read
MoneyWorks Datacentre 7.1.4 Update
The MoneyWorks 7.1.4 Datacentre update is now available as part of your annual software maintenance. Amongst other enhancements, this...
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EH Lim
May 28, 20141 min read
Unearned Revenue
Unearned Revenue is a payment received before goods or services are delivered. Usually, project or contract based businesses will...
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EH Lim
May 24, 20141 min read
Withholding Tax
The payer is required to: Withhold tax at 15% of the gross income payable to the non-resident professional; OR the non-resident rate of...
2,120 views0 comments
EH Lim
May 5, 20141 min read
MoneyWorks 7.1 update
Cognito has just released an update for Gold and Datacentre. Please note: Windows XP SP2 and earlier are not supported in MoneyWorks 7....
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EH Lim
Apr 28, 20141 min read
Void Purchase Order
The MoneyWorks does provide a “Delete” function to delete off those invalid Purchase Orders. A Purchase Order which you sent out, but...
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EH Lim
Apr 11, 20141 min read
The best Mac accounting apps
Top choice: MoneyWorks Gold 7 MoneyWorks Gold is a solid, full-featured business accounting application that is networkable, supports...
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