EH Lim
Currency description and currency code on sales invoice template
It is good to indicate the currency used on the Sales Invoice to omit discrepancy.
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EH Lim
Jan 30, 20182 min read
Specify the currency conversion rate
GST register trader who supplies goods in foreign currency instead of Singapore dollar has to indicate the Singapore dollar equivalent...
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EH Lim
Sep 19, 20163 min read
Reverse backdated exchange rate change
You can have foreign currency set in accounts such as the bank, accounts receivable and accounts payable. When there is a rate change,...
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EH Lim
Aug 1, 20162 min read
Same customer with multiple currencies
In a multiple currencies environment, every name (customer or supplier) has tagged a currency. For example, if you trade with the...
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EH Lim
Jul 18, 20162 min read
Advance payment to a supplier in foreign currency
A supplier may request a deposit or an advance payment when you place an order if you do not have a credit payment term arranged. The...
344 views0 comments
EH Lim
Jul 12, 20161 min read
The Delta account (AccountCode-~~DEL)
In the MoneyWorks general ledger, a foreign currency account is represented as two separate amounts: the value in the foreign currency,...
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EH Lim
May 16, 20162 min read
Reclassifying a foreign currency account after revaluation of currency have done in MoneyWorks accou
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...
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EH Lim
Apr 8, 20161 min read
How to record a foreign currency loan received?
The Bank, Accounts Receivable, and Accounts Payable account can be set with a foreign currency. Instead of creating the foreign currency...
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EH Lim
Oct 20, 20151 min read
Showing the GST amount in Singapore Dollars equivalent
GST (Goods and Services Tax) applies when you supply goods and services locally, even if you invoiced the customer in foreign currency....
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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
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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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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