Quick AR reports by Sales Rep from MoneyWorks transaction lists

Q: In my old accounting system I used to run a report for all my sales reps that showed all the A/R by Sales rep for their customers. It appears that function is not available in MoneyWorks.

MoneyWorks is very flexible and you can create any logical report using the Report Writer. However for basic information such as A/R by sales rep you can quickly run a report right from the transaction lists. Continue reading

Why are my MoneyWorks transactions posted in the wrong period

Why can’t we have current payments show up in the ‘Current Year’ category.  They can only be viewed under ‘The Previous Year’ category.   We have tried to change it to ‘Current Year’ but are unable to find directions for doing so.

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How is the MoneyWorks Purchase Order default setup

Another common question from new users from who I received two this month, is about how MoneyWorks records ship to addresses on purchase orders and records  part numbers being ordered.

Q: I am confused about how MoneyWorks adds the shipping address to the Purchase Order I send to the supplier. Sometimes I need them to ship to a special address. And they also want me to use their part numbers, which totally messes up my Item coding system.

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How to Contra invoices in MoneyWorks

Q: I created an invoice, then receipt for payment. I then wanted to cancel this invoice so I did a REVERSE on the invoice. It now has an outstanding invoice of negative amount. How do I remove/cancel this?

In this case the user now has the original [incorrect] posted invoice with a payment applied to it, the receipt that applied that payment and a manually reversed invoice.

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Bank Deposits in MoneyWorks

MoneyWorks by default provides an Unbanked bank account in it’s Chart of Accounts templates. The unbanked account is a Deposit Holding Account that businesses use to record receipts (cash, credit card or check/cheques) received from customers.

If you receive checks/cheques everyday, but you only want to physically deposit them into your bank once of week, you should record the receipt on the date it is received into MW against the Deposit/unbanked account. Outstanding customer invoices will then show the correct payment date and your AR person will not request payment from a customer whom has already paid etc.

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Job Costing example Tracking employee hours against jobs

Q: My company installs doors. windows etc. and has two employees, George Smith & Larry Jones. I pay them a monthly salary.
However some of their duties include installing doors & windows as well as doing service calls.
I want to track their hours against the various jobs,  but I do not want to record their installation hours against the GL as it would represent a double entry when I issued their monthly check/cheque.

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Applying multiple suppliers to an open PO

Q: I have an open PO that I want to process multiple receivings’, with different supplier invoices against this open PO. How do I do that please?

Process the PO as Receive goods with Invoice {green Arrow} > Enter the Qty received for the first supplier > Click the OK button and the Order Processing window opens Assign the invoice no. and uncheck the Post Check Box. > Click Process….

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Adding GST and PST to your invoices in BC

If you are using MoneyWorks V6 in BC you will now have to convert back to GST & PST (see previous article) and then add the GST &  PST to your invoices. If you were using MoneyWorks prior to July 1, 2010, you most likely have the appropriate fields on the form, In any case you will either have to modify them or add them to your invoice form using Forms Designer. At the bottom of the invoice you will need the following calculation fields: Continue reading

Setting up new Tax Rate for Quebec in Moneyworks

NOTE: The previous post was incorrect this update hopefully corrects that.

Rate change starting Jan 1, 2013 : As of January 1, 2013, the provincial rate will no longer be applied to federal GST, but it will be increased to 9.975% to compensate.

The existing tax codes in MoneyWorks will record the new tax rates correctly as the resulting tax rate remains the same, e.g. 14.975%

However if the Quebec government decided to change the tax rate in the future, changes would have to made to the MoneyWorks tax codes. So your choice is to do nothing until the next tax rate change or do a change now that will allow you to more easily manage tax rate changes in the future. Your choice.

Read on to see how to make the change now.

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How to run simple sales reports from the Transaction Lists?

How do I run a report for a certain customer over time? And sort by highest sales to lowest sales within that same report?

In answer to your first question, a report for a certain customer you can isolate the individual customer or selection of customers s follows:

Go to Show menu Names and the Names list {Red Arrow] opens. Highlight the name [Green Arrow], Go to Reports menu [Black Arrow}, Sales folder [Purple} and select the Customer Sales Report you want e.g. Customer Sales over time.

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Hiding the Payroll in MoneyWorks Gold

Q: How do I hide the Payroll transactions from other users?

Even though MoneyWorks does not include a Payroll Module with all the deductions and withholdings that you are required to make, you can as explained in detail, process payroll in MoneyWorks (See Processing Payroll in Canada or Processing Payroll in the USA). If processing payroll is the most often asked question, the second most asked would be how do I hide the payroll transactions from prying eyes.

So here’s one way to do it. Continue reading

Hiding Journal entries and other stuff

Q:  How do I set up MW Gold so that my additional user doesn’t see journal entries?

There are no magic buttons that you can press to hide a transaction from appearing on the transactions lists. However there are privileges that can be taken away from users, to do functions and to see transactions. Continue reading

How do I process drop shipments from Suppliers

Q: How do we track inventory when our suppliers ship direct to our customers. We would like to enter the order from the customer and have that become the order for the supplier but our inventory is always messed up.

If you want to manage inventory, tracking stock on hand etc., you have to record the sales by item number and you have to record the receiving of those items, even if they have never physically entered your warehouse, as in the case of your supplier shipping the goods directly to your customer.

However, using Gold or Datacentre you only have to enter the details of the order once. It starts by assigning the Usual Supplier to the Item Records…. Continue reading

The Chart Accounts

A new generic white paper explaining the Chart of Accounts. The purpose of the White Paper linked here, is to provide small to medium sized business owners with an understanding of the Chart of Accounts.

It is best suited for owners are who starting up their first business. The author is a small business owner and not an accountant and the information provided here should not be considered accounting advice, which probably makes for a more interesting read.

For more information contact http://moneyworkssupport.ca/

Screen Display on PC NetBook

Q: Working on a PC netbook – I can’t resize to see continue or ok buttons when either invoicing or receipting. The window is too large and won’t allow me to scroll down to the bottom or resize.

The Windows system requirements for MoneyWorks, as posted on the download page or the retail box are:

  • Windows XP, Vista, Windows 7 or Windows Server 2003 or later with 1024×768 resolution or larger display

Most netbooks have vertical resolutions as low as 600 pixels or even less (a little more than a 9″ Mac Plus screen). We have not supported screens that small since v4. Check your screen resolution and see if you can increase the resolution.

For MoneyWorks support in Canada and the USA contact us at moneyworkssupport.ca 

Chart of Accounts: Using Categories

Q: I am taking care in setting up my chart of accounts, using MoneyWorks Cashbook on a my Mac and wanted to know how to use categories?

About the Chart of Accounts

All versions of MoneyWorks (Cashbook, Express & Gold) contain a fully integrated General Ledger and standardized chart of accounts. The chart of accounts templates (e.g. General Business etc.) are presented with the account types sequentially numbered in North American standards (e.g. GIFI in Canada. GAAP in the USA).

Of course the numbered codes (e.g. 7 alphanumeric characters) and the descriptions (e.g. 39 alphanumeric characters) can be changed to best represent and record the details that you want to or are required to track in your business (see TIPS article: modifying your chart of accounts).

Additionally MoneyWorks Gold consists of a departmentalized general ledger, meaning that you can set up departments and/or cost centers that allow you to track and report on individual business units e.g. locations, fleet of vehicles, departmentalized personal etc, See Tips article: How Departments work n MoneyWorks Gold.

Categorizing your Chart of Accounts

Alternatively to departmentalized or cost center accounting, many businesses categorize their accounts so that they can report and analyze their business results (e.g. Balance Sheet, Income Statement or P&L) in differing formats. Although they may possibly want to record their expenses, income, assets etc. into very detailed accounts for governmental or other financial considerations, when reviewing their results each month they are more concerned about how much was expensed by category or type of expense, e.g. all vehicle expenses as opposed to individual expenses for each vehicle or all communication charges versus each cell phone, land line, fax and internet connection. Continue reading

Finding Cancelled Transactions

Q: We are a transaction intensive company.  I have about 400 transactions that were posted but have been cancelled and corrected. The problem is that the cancelled transaction looks exactly the same as the corrected one so  need to look up each transaction and then determine which one is correct.  Before I start doing that, I want to be sure this is the ONLY way to get this done.

The status or state of transactions (Receipts, Payments, Invoices etc.) is shown when you click on the Blue Info button of the transaction. Continue reading

Lion 10.7 Compatibility

MoneyWorks 6 is compatible with Lion, the new Mac OS (10.7). MoneyWorks 5.3 also appears to work in Lion (but no further updates will be issued if compatibility problems turn up in version 5 as the current version is V6). MoneyWorks 4 (and earlier versions) will not run on Lion since it predates Apple’s switchover to Intel processors and Apple have removed the compatibility layer (Rosetta) from Lion that allowed older software to run on Leopard and Snow Leopard.

Lion also introduces a variety of new technologies such as Versions and iCloud. These were not designed to support complex databases, and hence do not appear to be a good fit for MoneyWorks at this time. This does not mean that you cannot use iCloud as a backup for your MoneyWorks files, it just means that you cannot run your MoneyWorks file directly from iCloud.
For MoneyWorks support in Canada and the USA contact us at moneyworkssupport.ca

Printing Shipping Labels

Q: How can we print shipping labels for our sales orders, we are using MoneyWorks Gold accounting software for Mac?

MoneyWorks Gold and Express allow you to print consignment shipping labels directly from your sales and purchase transactions (receipts, invoices, sales orders etc.) Consignment in this case means recording the number of boxes sequentially on each shipping label e,g, 1 of 4, 2 of 4 etc. The procedure is quite simple, for example: Continue reading