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
Q: We are in a multiuser MoneyWorks environment. How do I show or check which employee entered a transaction or transactions into the accounting system?
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.
Question: How do I change customize terms for customers?
Question:How do I go in and lock the year end so that no changes can be made after that date?
Question: Is it possible to do a price increase on all our products in one step? Instead of having to go into each individual product in raise the price we’d like to do a 4% increase across the board. Continue reading
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.
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?
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.
MoneyWorks has had a built in sales commission report since version 4 and I am surprised that I did not do a article on this feature before since I seem to answer queries about it every month. So here goes.
Setting up your salespeople:
Q. Can I import a purchase order with 500 items on it. Continue reading
Q: I’ve been a Moneyworks user for 4 years, but I haven’t had a problem until now. Manitoba has increased their PST and I would like some assistance Continue reading
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?
Q: I am trying to code my invoice to show multiple payment receipt lines against a single invoice. Format required:
Q: I have a few customers that have overpaid their invoices by a few cents. How do I write off these small amounts?
Write off overpayments Continue reading
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
If you do not already have the GST, PST and combination taxes from the past and only have the HST tax, the first step is to:
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.
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.
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
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
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
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/
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:
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
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?
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.
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
Q: I have been behind on doing my bank reconciliations and although I balanced the last bank reconciliation, MoneyWorks informed me that I am out of balance with the ledger Is there a way that I can easily find the unreconciled or reconciled transactions to see which one I am missing.
Yes, and as with most things in MoneyWorks there is more than one way to do things. Continue reading
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
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
