EH Lim
How does the overpayment work in MoneyWorks?
When overpayment is received from a customer, there is a temporary “overpayment” detail line added to the Receipt transaction. Example:...
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EH Lim
Sep 1, 20151 min read
How to search for the outstanding sales invoices?
In our previous post, we discussed about the aged receivable. A transaction needs to be posted before it updates the general ledger. So,...
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EH Lim
Aug 14, 20152 min read
How to print a GST Report from MoneyWorks accounting software?
Refer to MoneyWorks v7 User Guide, Page 201, “GST, VAT, Sales Tax & Tax Codes”. The GST report can be printed from the Reports menu | GST...
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EH Lim
Jul 19, 20151 min read
How to record the GST paid on behalf of a customer?
The GST paid on behalf of your customer to the Custom for the goods imported (usually happened in logistic business) are not your...
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EH Lim
Jun 23, 20151 min read
The Date Format
The “Date” show on your Window Desktop (lower right corner of the desktop) is formatted as DD/MMM/YYYY (example: 12 June, 2015), but the...
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EH Lim
May 26, 20151 min read
How to clear off an overpayment from a debtor?
Overpayment: When payment received from a debtor is greater than the amount owed. Assume you have an outstanding Sales Invoice of...
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EH Lim
Apr 10, 20152 min read
Non-Claimable GST
GST (Goods and Services Tax) is not an expense nor an income. The tax amount received (Output tax) from the supply of goods and services...
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EH Lim
Apr 7, 20152 min read
Count it vs. Stock it
Software: MoneyWorks version 7 accounting software When creating a Product item in MoneyWorks accounting software, you have an option of...
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EH Lim
Apr 6, 20152 min read
Importing the Chart of Accounts into MoneyWorks
Software: MoneyWorks v7 accounting software After verified the tax code (GST code) and tax rate (GST rate) are correct, you need to...
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EH Lim
Mar 13, 20152 min read
Stock correction
Assuming when cross over to MoneyWorks accounting software as at 31 December 2014, you created a stock item, P101, but forgotten to add...
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EH Lim
Mar 2, 20151 min read
Malaysia GST - change of localisation
If you have been using the MoneyWorks accounting software before the localisation of “Malaysia GST”, you can change the setting from the...
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EH Lim
Jan 7, 20151 min read
Why the Sales Invoice transaction shown in my Cost of Goods Sold account?
Software: MoneyWorks accounting software When you make an account enquiry of the Cost of Goods Sold account, the sales invoice...
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EH Lim
Dec 2, 20141 min read
How to use the “Heading Only” account?
Heading Only. If you want the account to be primarily used as a heading in summary reports, set this option. You will not be able to...
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EH Lim
Nov 24, 20141 min read
Accounting Software – Closing Date vs Crossover Date
When crossing over to a new accounting software, often you will crossover after you have closed up the existing book. That is, to start...
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EH Lim
Nov 20, 20141 min read
Crossing over to MoneyWorks - the outstanding bills
In our earlier post, we discussed about how to record the outstanding sales invoices. Besides the outstanding sales invoices you are...
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EH Lim
Nov 13, 20141 min read
Realized exchange rate differences - the exempt supplies
A new GST Form 5, v1.0.9, was included in the MoneyWorks accounting software update (v7.1.7). The new GST Form 5 includes the realized...
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EH Lim
Nov 11, 20141 min read
Outstanding Credit Note
In our earlier post, we discussed about how to record the outstanding sales invoices. If you have a Debtor’s Credit Note outstanding as...
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EH Lim
Nov 8, 20142 min read
Record the Outstanding Sales Invoices
When crossing over from the existing accounting software to MoneyWorks accounting software, you need to record all the outstanding sales...
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EH Lim
Oct 30, 20141 min read
The GST Detail Report
When print the GST report, by default, the "Show Transactions" checkbox in the print setting preferences has already been checked. This...
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EH Lim
Oct 29, 20141 min read
Exchange rate used in GST report
When printing the GST report for the last quarter, which exchange rate will the MoneyWorks accounting software be used? Transaction...
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