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MoneyWorks Tutorial

MoneyWorks Tutorial
This tutorial takes you step by step through many (though by no means all) of the features of
MoneyWorks. It is recommended that you work through this tutorial before you start using
MoneyWorks as it will give you a good understanding of how it operates. Remember that the tutorial
is designed to teach you how to use MoneyWorks, and not how to do accounting or how to use a
computer.

The tutorial is based around Acme Widgets, a hypothetical entity. It will take at least an hour to work
through, and at the end you should have a good grasp of the fundamentals of MoneyWorks along
with the principles behind it. You can quit from the tutorial at any time and continue it later. Quitting
from MoneyWorks automatically saves all the work done to date. When you reopen (by clicking the
Sample button), you simply start from where you finished.

The tutorial covers MoneyWorks Cashbook, Express and Gold—the first section is relevant to all
three, the second Express and Gold, and the third Gold only.

Contents
For Cashbook, Express and Gold: For Express and Gold:
Entering a Transaction . . . . . . . . . . . . . . . . . . . 5 Receivables and Payables . . . . . . . . . . . . . . . 43
Automatic Allocations . . . . . . . . . . . . . . . . . . 12 For Gold only:
Working with the Transaction List . . . . . . . . 14 Inventory and Order Entry . . . . . . . . . . . . . . 55
Bank Reconciliation . . . . . . . . . . . . . . . . . . . . 23 Job Costing and Time Billing . . . . . . . . . . . . . 59
Importing Your Bank Statement . . . . . . . . . . 26 After completing the tutorial:
Preparing Your Tax Return . . . . . . . . . . . . . . . 28 What Next? . . . . . . . . . . . . . . . . . . . . . . . . . . 71
Getting Information Out . . . . . . . . . . . . . . . . 33 Creating your own set of accounts . . . . . . . 72
Transactions for Products and Items . . . . . . 37 Setting up taxes . . . . . . . . . . . . . . . . . . . . . . . 73
Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Cost Centres/Departmental accounting . . . 73
Multi-currency . . . . . . . . . . . . . . . . . . . . . . . . 75

Getting more information

If you need further information about something while using MoneyWorks, simply right-click and
select Help. A contextual help window will open offering a list of possible solutions. You will also be
able to access a PDF copy of the MoneyWorks Manual by choosing PDF Manual from the Help menu.
Additional information can be also be found on the Cognito Software website at
http://www.cognito.co.nz.

Starting the Tutorial

Acme Widgets is a thriving widget sales company, located in Newton, who have been using
MoneyWorks since they started operations in 2024. They purchase and sell a wide variety of widgets
throughout the greater Newton region. Acme Widgets needs all the normal accounting functions
such as profitability, cash flow and tax tracking. As each day passes new transactions occur that need
to be entered.

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MoneyWorks Tutorial Starting the Tutorial

Note : Your actual screen images may differ slightly from those in this tutorial, which
uses images from MoneyWorks Gold.

To start the tutorial, first start your copy of MoneyWorks.

1. On the Macintosh, double-click the MoneyWorks application icon

On Windows, click on the start menu at the bottom of your screen, move up to Programs, then
select MoneyWorks from the pop-out menu that appears.

MoneyWorks will start, displaying the Welcome screen.

Note : The Welcome screen varies slightly depending on which MoneyWorks product
you are using—the above screen is for MoneyWorks Gold.

2. Click the Sample button

The Acme Widgets tutorial file1 will open and the MoneyWorks
Navigator will be displayed. Unless someone has been using the file, the
Navigator will open at the Dashboard, which gives a graphical overview
of the financial health of the company.

The Sample button

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MoneyWorks Tutorial Starting the Tutorial

The Navigator

As well as providing a summary of the financial status of an organisation, the MoneyWorks Navigator
is designed to represent the process flows in a typical business. The main functional areas are
represented by the icons in the left sidebar of the window—clicking on one of these gives access to
the appropriate operations. Although there are faster ways in MoneyWorks to enter or access
information, the Navigator is a good place to start.

1. Click on the Day-to-Day sidebar tab

A panel showing the common daily workflow for most organisations is displayed. This
encompasses the sales, purchasing and cash handling activities that are common to most
enterprises.

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MoneyWorks Tutorial Entering a Transaction

As you move the mouse over various icons on the Navigator, each will highlight indicating that
something will happen should you click on the icon. If you hover the mouse for a couple of
seconds, a short tool tip will be displayed to further explain what happens if you click.

2. Click on the Payments icon

The transaction list in MoneyWorks will be displayed showing all payments

entered into the system—lists are a powerful way to manage your information,
and we’ll talk more about them later in the Tutorial. The Payments icon

3. Close the Transaction List Window

Use the standard controls at the top of the window to do this, or simply hold down the Ctrl key
(Windows) or the Command key (Mac) and press W.

4. Click the icon that is adjacent to the Payments icon

A new payments window will open, allowing us to record a new payment

transaction. Whenever you click a icon, a new entry screen will open for
the associated list. New Payment icon

5. Click the Cancel button to close the entry screen

When clicked, a lot of the icons on the Navigator will display a list of some sort, be it a list of
Customers, Items or Invoices. These list icons all have a smaller icon with a blue cross on them at
their bottom right; clicking on the blue cross will make a new entry for whatever list it is
associated with.

Entering a Transaction
On the 13th January 2025 Acme Widgets spent $100 on special pens at Eds Supplies. This is a
payment, and was paid for by cheque (or check if you are American), and needs recording.

1. Click the icon that is adjacent to the Payments icon

The Payment entry window will be displayed.

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MoneyWorks Tutorial Entering a Transaction

Notice that the cheque number field is highlighted ready for you to type in the cheque number.
In the tutorial we’ll assume that the cheque number is correct, so we don’t need to change it—in
practice you should check that this number corresponds to the actual number on the cheque.

2. Press the tab key

Pressing the tab key moves the cursor to the next field (holding down the Shift key and pressing
the Tab key moves it to the previous field). The cursor will move to the Date field, where the
current date will be highlighted (from the point of view of this tutorial file, the current date is
always 31 Jan 2025).

Important note on dates ...

The date is displayed in whatever date format is specified in your computer system
settings. This may be dd/mm/yy, mm/dd/yy, or some other format. You need to use this
format when you enter a date into MoneyWorks. The diagrams in this tutorial are
showing dates in dd/mm/yy format. Date formats are set in the System Preferences on
the Mac, and the Control Panels on Windows. If you change the date formats, you
should restart MoneyWorks so that it knows about the change

... and another on spelling

To optimize or optimise, add some color or colour, make an inquiry and an enquiry. It’s
tricky when writing for an international audience to know what to use. At the risk of
offending those in North America, we’ve decided to use the “British” spelling, on the
grounds that there is no z in compromise.

3. In the Date field, enter the date as 13 Jan 2025, pressing the tab key when finished

Remember that the date format that you use is determined by your computer settings.

The To field should be highlighted.

4. Into the To field, type “Eds Supplies”, then press tab

This is to whom the payment was made.

5. In the Description field, type “Pens”, then press tab

This is a description of what was purchased. As you type you may notice a selection list
appearing under the field. Ignore this for the moment.

6. In the Amount field, type “100”, then press tab. This is the total amount of the payment.

The information we have entered describes the details of the transaction. If you are familiar with
a manual cash book you will recognise that this information is normally entered in the left hand
part of the cash book, and we use the cash book columns to allocate the amount to the various
expense or income categories that we want to use.

In MoneyWorks this allocation is done in the detail lines of a transaction, and, unlike a manual
cash book you can have as many detail lines as you want. A detail line has already been created
for us.

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MoneyWorks Tutorial Entering a Transaction

7. Type “7240” (the code for our stationery account) then press tab

As you type you will notice a selection list appearing under the field. Ignore this for the moment.

When you tab out of the field, the name of the account (Stationery) appears in the next column,
so we can check we are using the right account code. Note that Acme Widgets uses “7240” as
the code for stationery expenses— in practice you can use whatever code you like, even
something like “STAT”.

At this point the transaction is complete—MoneyWorks has automatically inserted the amount
for us.

Note also that MoneyWorks has calculated the tax on the transaction. Depending on what
country you are in, this might be referred to as GST, VAT, HST, QST, PST or even just sales tax. The
tax handling in MoneyWorks is very flexible and powerful, and is automatically localised for the
each country. The tax amount in your transaction may differ from that in the picture above (and
indeed from other pictures later in the tutorial)—it depends on what rates are set2.

Note on the naming of taxes

For simplicity, we’ll mostly just use TAX in this tutorial to refer to GST/VAT/HST/ QST/
PST/Sales Tax. Canadians should realise that this also covers HST, QST and PST, and for
Americans it covers the different combinations of sales taxes.

8. Click the OK button to close the entry window and save the Payment

The MoneyWorks Navigator will be displayed.

We’ll add some more transactions to explore other MoneyWorks features.

On the same day as the transaction we have just entered, we went to Newton Stationers, where we
purchased some envelopes for the office (at $20 plus TAX), and some stamps for $40 (TAX inclusive),
and a jar of instant coffee for the office. The total came to $77.

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MoneyWorks Tutorial Entering a Transaction

1. Click the New Payment icon to open the Payments entry screen

2. Tab to the To field

MoneyWorks has automatically entered the next cheque number for you The New Payment icon
and also remembered the date of the last transaction.

3. Type in “Newton Stationers”

As you type, notice the dropdown selection list automatically matches previous entries that have
been made into this field. At any point you can use the downarrow key to highlight the text that
you want.

4. Press Tab, and in the Description field, type “Various”, and press tab.

5. In the Amount field, type "77"

This is the total amount of the payment.

6. Press tab to move to the account field in the detail line

We need to allocate the paper to the stationery account. You will recall from the previous
transaction that this was coded as 7240.

7. Type in “7240”, then press tab twice

You should be in the Net column.

Notice that MoneyWorks has allocated the entire amount of the transaction to this detail line.
Only $20 was for stationery, and the balance was for stamps and coffee.

8. Type in “20”, then press Tab

The TAX will be automatically calculated.

In MoneyWorks we can enter either a TAX inclusive figure (which goes in the Gross column), or
as in this case an exclusive figure (which goes into the Net column).

Note that the OK button is not available. This is because the total payment amount (i.e. the
Amount) has not yet been allocated.

9. Press the tab key three more times so it moves to the next detail line

We need to allocate the stamps to the postage account, but we can’t remember the expense
code to use.

10. Type “PO” and pause

Observe that every account which has a word in its description that starts with the text you have
entered is displayed in the dropdown selection list3.

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MoneyWorks Tutorial Entering a Transaction

11. Press the down-arrow key to select POST, then press tab

The account codes used by most accounting systems (and preferred by accountants) are usually
some form of number. However with MoneyWorks as long as you know a word in the description
of the account you are using, you can use that. Not having to remember codes makes using
MoneyWorks much faster and more accurate.

12. In the Description field, type in “100 Stamps”

The description column allows us to provide more details about this particular portion of the
transaction.

13. Press the tab key four times

You should be in the Gross column.

14. Type “40” and press tab

Notice that MoneyWorks automatically subtracted the TAX off the amount you entered to arrive
at the tax exclusive amount.

We need to allocate the balance of the expenses, which was for Coffee. This is allocated to our
General Expenses account (7130).

15. Type “7130” into the account code field and press tab

The remaining balance is allocated to this account, and the TAX calculated.

Note that some types of purchases might be TAX Free (again, it all depends on what country/
province/state you are in). Acme have set up a separate GL code (7135) for such purchases. If
there was no TAX on the coffee you could code it to 7135, or simply change the Tax Code (TC)
column from “G” to “F”.

16. Type “Coffee” into the Description

This completes the transaction.

17. Click the Next button

The transaction we have just entered is filed away, and an empty transaction window is shown.
We use the Next button when we are entering more than one transaction.

The next payment was wages for Helen Jones. She gets paid $1800 every two weeks, although there
are tax and other deductions of $474.40 from this, leaving her net wage as $1325.60.

1. Tab to the To field and type “H Jones”

2. In the Description field, type “Wages”

3. In the Amount field, type “1325.60”, then press Tab

The cursor should now be in the Account field of the detail line. We think we want to code this to
the Salaries account.

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MoneyWorks Tutorial Entering a Transaction

4. In the Account field, type “SAL”

Note that there is no “Salary” option in the drop down selection box, indicating that there is in
fact no account which has the word “Salary” in it. What to do when you have a complete mental
blank like this and can’t think of the account?

5. Press Tab

Because we have not entered a valid code, MoneyWorks displays a choices list.This is a fully
searchable and sortable list of all your accounts.

Choices window for Cashbook and Express

Choices window for Gold also allows for selection of department (cost centre)

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MoneyWorks Tutorial Entering a Transaction

Whenever you tab out of a field in which a valid code is required but not entered, the choices list
will be displayed.

In this case we belatedly remember that we really wanted the Wages account

6. Use the scroll bar to move through the list until you can see the Wages code, or just type “W”
to auto-position the list

7. If the Wages account is not highlighted, use the up and down arrow keys on your keyboard to
highlight it

8. Press the enter key (or click the Use button)

The choices window will close, and the account code “7290” (for wages) will be inserted into the
account code field. Note that, to track wages by employee, we could set up individual codes for
each employee (or in MoneyWorks Gold, we could have a separate Department for each
employee).

9. Type “1800” into the Net field, then press the ↩/return key

A new detail line will be created.

The ↩/return key is used to add another detail line without needing to tab all the way
through to the end of the current line.

Note: Windows Users: We have given the name ↩/return to the large enter key on the
main body of the Windows keyboard—this is the one that is often shaped like a
backwards “L”.

Note: Laptop Users: Many laptop computers may not have the ↩/return key—in this
case just tab into the next detail line. You can in fact “reprogram” the use of these keys
in the MoneyWorks preferences.

Note: UK Mac Users (and possibly some European ones) will find that their Mac has a
different keyboard layout than other places. In particular the option key is labelled alt
(but we’ll term it option in this tutorial4)

There are deductions that we need to make from Helen’s $1800, including her income tax. We’ll
record that to a single Payroll Deduction account: in practice you might have several accounts, one
for each type of deduction.

10. Type “2600” into the Account field and press Tab

This is the code for the payroll deductions account.

The balance of the transaction (-474.40) is automatically carried down into this detail line. In this
case this represents deductions which we are holding to be paid at some future date. We have
put this into a separate liability account, a simple way to keep track of our other payroll
obligations.

Note that MoneyWorks does not know the tax withholding amounts or deduction rates for
payroll—this was calculated previously by the operator, and MoneyWorks is merely keeping a
track of this pre-calculated liability.

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MoneyWorks Tutorial Automatic Allocation

11. Click the Next button to move on to the next transaction

Automatic Allocation
MoneyWorks has the capability of automatically coding a transaction based on what you have
entered in the To field, the Description field, or the Amount field. We’ll use that facility to speed up
recording the purchase of gas for the car.

1. Tab to the To field and type “Shell”

2. In the Description field type “Gas”

3. In the Amount field type “60”

4. On Windows, hold down the Ctrl key and press U

On the Mac, hold down the ⌘ key and press U

The amount will be automatically allocated to the appropriate accounts. In this case Acme
Widgets can claim only 60% of their petrol usage for business use, and the remainder has to be
treated as a personal expense (drawings), and hence no TAX is recorded against it.

Automatic allocation is based on what you typed into either the To field or the Description field.
Acme Widgets have set up an allocation based on the word “Gas”—you can set up as many
additional allocations as you require5.

5. Click the OK button to return to the Navigator

Important: Keyboard shortcuts

Although MoneyWorks operates largely the same on both Windows and Macintosh,
there are some differences imposed by the different operating environments. The most
noticeable of these is in using the keyboard shortcuts to access menu commands,
which we did in step 4 above. On Windows this is done by holding down the ctrl key
and pressing the shortcut key, whereas on the Mac it is done by holding down the
command (⌘) key and pressing the shortcut key.

Henceforth in this tutorial, where the key strokes are different between Windows and
Macintosh, they will be shown as (for example) Ctrl-U/⌘-U., where the first key stroke
is for Windows and the second for Macintosh. Mac users should not confuse Ctrl with
the control key.

Where did it all go?

You're probably asking yourself what happened to all those transactions we've just entered.

1. Click the Payments icon

The Transactions window will open listing your payments. You will see your
cash payments at the top of the list, which has been sorted by date.

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MoneyWorks Tutorial Entering a receipt

In MoneyWorks information is often presented in this easy-to-use list format. The lists are “live”, in
that you can enter information directly into them, edit existing information, sort the lists and so
forth. In fact as you get used to MoneyWorks, you will tend to use these lists directly, bypassing the
Navigator—we’ll do it this way for the next transaction.

Entering a receipt
We have just received payment from Mary Jones for fixing her bronze widget. We’ll enter the receipt
directly into the Transaction list—once you get familiar with MoneyWorks you will find it is much
faster to enter transactions directly into the Transaction list than to use the Navigator.

Before we start, notice that the list is organised into sections or views, which are listed in the sidebar
down the left hand side of the window. We are currently in the Payments view. To see the receipts,
we need to be in the Receipts view.

1. Click the Receipts sidebar tab

The list will now show receipts (i.e. transactions representing payments from other parties made
to you).

Notice that there is a toolbar along the top of the window. This allows you to manipulate items in the
list.

2. Click the New toolbar button

The new cash receipt window will open.

3. Click on the Bank pop-up menu and set it to Unbanked

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MoneyWorks Tutorial Working with the Transaction List

The Bank pop-up is used to specify which bank account the receipt (or payment) will be entered
into. “Unbanked” is a special type of bank account that Acme Widgets use. As this money will not
be banked immediately, they receipt it into this account. When they are ready to do their
banking they use the special MoneyWorks Banking command. Note that the display of bank
account balances in the Bank menu is a privilege in MoneyWorks Gold, and can be turned off.

4. Click the pin next to the bank pop-up menu

Some people have lots of bank accounts—the record we have come across is 150. Clicking the
pin will make this the default bank account for this type of transaction (until the pin is clicked
again).

5. Type “Mary Jones” into the From field

6. Type “Fixing Widget” into the Description field

7. Press Tab twice to move to the detail line

8. Type “REP” into the account code field, and arrow down to highlight the Repairs account code
(4100), then press Tab

This is the account code for income from repair work.

9. Type “25” into the Gross column, then press tab

The TAX component is calculated, and a new detail line is created.

Note that MoneyWorks has automatically calculated the transaction amount for you—when
entering a receipt or a sales invoice, you often don’t know in advance the total amount of the
transaction.

10. Click the OK button

The receipt entry window will close, and the transaction list window will be displayed with the
newly entered transaction highlighted. The empty detail line that was created when you pushed
tab will be automatically deleted.

Working with the Transaction List

Transactions are vitally important because they represent the events that occur over a period of time
for a business, and they are also how we as humans tend to think: “that cheque I wrote to Jo Bloggs
last month”, “that invoice we got from Fred in September”. In many accounting systems it is difficult
to see the transactions that have been entered—they seem to vanish into a black hole somewhere.

The Transactions window in MoneyWorks makes working with transactions easy and provides a lot of
useful functions.

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MoneyWorks Tutorial Locating Transactions

We can sort the items in a list simply by clicking the appropriate column heading.

1. Click on the word “Gross” above the gross column

The transactions will be sorted by transaction amount, with the biggest amount at the top of the
list (so we are now at the bottom). Note that the heading is highlighted to indicate that the list is
sorted into this order.

2. Click on the word "Gross" again

The sort order is reversed. Clicking on the column heading again will reverse the current sort
order.

3. Click on the From (Description) column

The receipts are now ordered alphabetically by who paid us.

Locating Transactions
We can use this simple sorting to locate transactions quickly. Lets say we want to find a particular
payment to Post Haste. This will be found in the Payments view.

1. Click on the Payments sidebar tab

The Payments will be listed. It will not necessarily be sorted by description, as each list preserves
its own sort order.

2. Click on the To (Description) column heading

The transactions will be sorted by who we paid.

3. Type “P”

The list is repositioned to display the transactions with a description starting with “P”. We could
have typed “po” or “pos” to position the list more accurately—with the caveat that you need to
type fairly fast, otherwise the list will reposition to “p” and then to “o”.

4. Use the up and down arrow keys to move through the list to find the payments for Post Haste

Adding up Transactions
There are several payments made out to Post Haste. It would be interesting to find out how much we
have spent with them in total.

1. Click once on the first of these in the list to highlight it

2. With the shift key held down, click on the last Post Haste transaction

All of the transactions to Post Haste should highlight.

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MoneyWorks Tutorial Finding Transactions

3. Click the Sum toolbar button (or press Ctrl-=/⌘-=)

The amounts of the highlighted transactions are totalled and displayed.

4. Click the Close button to close the Sum Selection window

Finding Transactions
MoneyWorks also has a fast find facility to make working with large lists easier.

Let’s say that we want to find all payments for advertising.

1. Click in the search box at the right of the toolbar (or press Ctrl-F/⌘-F)

2. Type “advert” into the right hand field (without the quotes)

After a brief pause to ensure you have stopped typing, only payments containing a word starting
with “advert” will be displayed. This is a text search, and operates on the transaction and all
description lines in the transaction.

3. Replace the word “advert” by “stamps”

The list will now display all payments that contain the word “stamps”. The one we entered to
Newton Stationers will be the only one, provided you entered the description for “100 stamps”.

4. To clear the search and restore all payments to the list, click on the cross icon in the right of the
search box, or on the Payments sidebar tab

All payments will again be displayed in the list.

Printing a list
Any list can be printed in MoneyWorks—and we use the term “printed” in the general sense of actual
printing it, turning it into a pdf or text file, emailing it and so forth. This, coupled with the powerful
searching and sorting, is extremely useful when you need information for a specific purpose—for
example, a list of overdue invoices, a list of cheques written to Archie Smith or whatever.

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MoneyWorks Tutorial Printing a list

We now want to print a list of our advertising payments. First we need to find the transactions, so
repeat the search that we just did for advertising. Make sure you are still on the Payments view.

1. Repeat the search that we just did for advertising

2. Sort the transactions by clicking the Date column heading

3. Click the Print List toolbar button (or press Ctrl-P/⌘-P)

The Print Transaction List settings window is displayed

Instead of printing this, we will preview it on the screen.

4. Ensure the Output to pop-up menu is set to Preview

5. Click the Preview button to preview the report on the screen

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MoneyWorks Tutorial Printing a list

6. Press Ctrl-W/⌘-W to close the Preview window

You can actually just leave the Preview window open if you like. As you preview other reports they
will be added to it (each with its own sidebar tab), allowing you to work with or compare multiple
reports on screen

We can reprint the list to give us a quick summary of advertising expense by supplier.

1. Click on the To (Description) column heading to sort the list by supplier name

2. Click the Print List toolbar button (or press Ctrl-P/⌘-P) to display the Print settings window
again

3. Click on the Subtotal by To (Description) check box

This will print the list as before, but subtotalled by the sorted column, allowing you to see how
much advertising we have spent with each supplier.

Searching, sorting and printing lists is a very powerful and easy way to get important information out
of MoneyWorks.

Tip: To see the underlying “accounting journal”that MoneyWorks does for you
behind the transactions you are entering, click the Print Details toolbar button and
select the Debits and Credit layout.

Tip: A report might be hundreds of pages long. You can

use the search box at the top right of the window to
find any text in the report. For example, if you want to
find payments to the Newton Gazette, type gaz into the
search box and wait a second. All occurrences of blocks
of text containing "gaz" will be highlighted. Pressing ↩/return will find the next one.

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MoneyWorks Tutorial Modifying a transaction

Modifying a transaction
We realise that we have made a mistake in one of the earlier transactions. The Payment to Eds
Supplies that we dated the 13th January should have been dated the 12th January.

Before we can modify a transaction we first need to locate it. There are various ways that we can do
this. We’ve already seen how to use the search box, so in this case we’ll type directly into the
MoneyWorks list.

1. Click on the Payments sidebar tab so that all payments are shown

2. Sort the list by Description if it is not already sorted

Remember, click on a column heading to sort by that column.

3. Type “Ed”

A transaction made out to someone whose name starts with “Ed” should now be highlighted. It’s
worth pointing out that this sort of search only compares the first characters in the sorted (text)
column, whereas the search box searches on the start of every word in the transaction.

4. If necessary use the up and down arrow keys to highlight the payment to Eds Suppliers dated
13th January

5. Click the Modify toolbar button or press the enter key

The entry screen for the transaction will be displayed with the information that
was previously entered.

6. Tab to the date field and change the date to the 12 Jan 2025

Remember your computer system settings determine the date format to use.

7. Click OK to file the change

Another way to modify (or just view) a record is to double-click it.

8. Double-click on any of the transaction records

The entry screen for that transaction will open.

9. Click Cancel

Any changes just made are discarded.

Posting Transactions
When you enter a transaction, the account balances in the general ledger are not updated. This
allows you to check and correct transactions. Once you are sure the transactions are correct, they
need to be “posted to the general ledger”. After this, the general ledger will reflect the impact of
those transactions. Once this is done, you will not be able to change the substance of the
transactions (you can change non-accounting information, such as the description, and if you do
need to make a correction, you can use the Cancel command to reverse a posted transaction, and
then re-enter it). Posting thus provides a rigorous audit trail of additions and changes to your

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MoneyWorks Tutorial Duplicating a Transaction

accounts, an essential element of modern accounting.

We’ll use the transaction list to find and post the transactions we’ve entered. The Transactions by
Status section of the Transactions window can list these.

1. Click on the Unposted view in the sidebar This view shows all Unposted transactions.

2. Choose Select All from the Edit menu (or press Ctrl-A/⌘-A)

All the transactions in the list are highlighted.

When you want to post a transaction, you must first highlight it (by clicking on it once). You can
highlight more than one transaction by shift- or ctrl-/ command-clicking. In this case we want to
post all the transactions, so we need to have them all highlighted.

3. Click the Post toolbar button (or press Ctrl-K/⌘-K)

You will be asked if you really want to post the transactions.

4. Click Post

The transactions will be posted to the appropriate general ledger accounts. There will now be no
transactions listed under the Unposted tab (this is because they are posted).

Duplicating a Transaction
It is now the end of January, and the wages for Helen Jones are again due. We could enter an entire
new cash payment. However as this transaction will be almost the same as the previous one, we will
duplicate the existing one.

1. Click on the Payments view to list all the Payments

2. Find the transaction for H Jones and click on it once to highlight it

A good way to find the transaction is to use the search box

3. Click the Duplicate toolbar button (or press Ctrl-D/⌘-D)

You will be asked if you want to change the reference number

4. Click New reference number

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MoneyWorks Tutorial Recurring Transactions

A copy of the highlighted transaction will be created and displayed.

The reference number in this case is the cheque number. As this is an entirely different
transaction, it needs a new number. If we had cancelled a transaction because it had been found
to be incorrect after it was posted, and then used duplicate facility to re-enter it, we would want
the resulting transaction to have the same reference number.

5. Change the date to 30 Jan 2025

The wages transaction (apart from the date and period) never changes, so we are confident that it is
correct. We might as well post it now, which we can do by setting the post option.

6. Click on the post option icon

The post option icon is the envelope next to the OK button. When it is set an envelope will be
displayed beside the OK and Next buttons, indicating that the transaction will be automatically
posted when you click either button.

7. Click OK

The transaction will be saved and posted.

Recurring Transactions
The wages for Helen will be the same every two weeks. MoneyWorks has a feature that will allow
transactions to be generated automatically on a recurring basis. This is useful for items such as
salaries, rent etc.

1. Locate the wages transaction for H Jones dated 30 Jan and double click on it to modify it.

The transaction entry window will open. Note that, because this is a posted transaction, some of
the fields have been greyed out to indicate that they cannot be changed.

2. Click on the Make Recurring check box, which is located at the top (centre) of the window

The Recurring Transaction Setup dialog box is displayed.

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MoneyWorks Tutorial Recurring Transactions

This is used to set up the frequency with which the transaction will occur. In this case we want it
to occur every fortnight (14 days).

3. Type “14” and press tab

The recurrence frequency should now read “Every 14th Day of every 1 month”. This means that
the transaction will recur on the 14th Feb, 14th March and so forth.

4. Uncheck the of every 1 month checkbox

The transaction will now recur every 14 days.

5. Set the Next Recurring on field to 13 Feb 2025

This specifies the first time the transaction will recur.

6. Click the Preview button

A list of dates showing when the transaction will recur is displayed.

7. Click OK to close the Preview window

8. Click OK to close the Recurring Setup window

9. Click OK to save the transaction

The transaction is saved and a recurring transaction icon is displayed in the status
column to indicate that it will recur. You can set and reset the recurrence properties for
transactions even if they are (as in this case) posted.

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MoneyWorks Tutorial Bank Reconciliation

Bank Reconciliation
An integral part of running any accounting system is to ensure that the transactions in the computer
match those on your bank statement. This is achieved by means of a Bank Reconciliation, which is
used as a check that neither you nor the bank have made an error.

A manual bank reconciliation consists of going through your payments and deposits, and ticking off
each one as it appears on the bank statement. We have already entered all these into MoneyWorks,
making the job much easier.

However Acme Widgets have been a bit naughty and haven’t been doing their bank reconciliations
on a regular basis. We’ll reconcile the statement dated 10th February 2024 for them. According to
the bank statement, the opening bank balance was $16,183.73, and the closing was $21,593.33.

1. Choose Bank Reconciliation from the Commands menu

A dialog box will appear requesting details of the bank statement.

Note that the Command menu contains a list of common actions and processes. You can also
access these through the appropriate panels in the Navigator, but it is generally faster to just use
the menus (or the associated keyboard shortcut).

2. Type in the statement date (10 Feb 2024)

All transactions for the nominated bank which are dated on or before this date and which have
not previously been reconciled will be selected for this reconciliation. The field defaults to the
date of the last reconciliation.

The page number is on the statement. MoneyWorks has automatically incremented the page
number from the last statement. The statement page number is used as a reference.

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MoneyWorks Tutorial Bank Reconciliation

3. Type “21593.33” into the Closing Balance field

The opening balance is already set from the last reconciliation that you did— this should
correspond to the balance at the top of the bank statement. The closing balance is the balance at
the end of the bank statement. Balances that are overdrawn are entered as negative numbers.

4. Click the Reconcile... button

MoneyWorks will find and list all posted transactions against the nominated bank that occurred
on or before the statement date.

The list is in two parts: the top shows you the items you have reconciled, whereas the bottom
shows candidate transactions that could be reconciled. Items can be transferred from the bottom
(unreconciled) list to the top (and vice versa) by clicking on them. The bottom list can be sorted
by clicking on the column headings.

5. Click on the Date column heading of the bottom list to sort it by date

This will most closely correspond to the order of the transactions on the printed bank statement.

The first item on the statement from the bank is an automatic payment of $2,812.50.

6. Locate this transaction in the list and click on it

The item appears in the top list and is dimmed in the bottom (and a face appears beside it
indicating that it has been presented and reconciled). If you clicked on the wrong one by mistake,
just click it again.

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MoneyWorks Tutorial Bank Reconciliation

The Amount Processed (under the top list) changes to -2,812.50, and the Calculated Closing and
Difference are also adjusted by the same amount. This portion of the window calculates the
difference between what is ticked off in the list and the balance on the bank statement. When all
the items on the bank statement have been ticked off, the Difference figure should be zero.

7. Click on the AP item for $2,088.28

The Difference figure displayed should be 10,310.38. Note also that the right hand column in the
top list is maintaining a running balance, the balance of which should be the same as that on
your bank statement.

8. Click on the following items that appear on the statement:

Date To Amount
4 Feb 2024 Sales $5,858.10
4 Feb 2024 Newton Stationery 37.69
7 Feb 2024 Sales 5,153.72
7 Feb 2024 Herman Melville 663.75

Once these items are clicked off, the Difference figure should be zero. Cheques that have not
been presented are not ticked off.

If the difference is not zero, someone has made a mistake. This could have occurred in the
reconciliation itself, in entering a transaction, or the bank may have made a mistake. In this
situation it is up to you to locate the error.

9. Click the Print button

The Print Bank Reconciliation settings window will be displayed.

This report lists details of the reconciliation—the statement details, the reconciled transactions,
and the unpresented items. You should print this off and file it with the corresponding bank
statement.

10. Click Preview

The reconciliation report will be previewed for you to look at.

11. Close the Preview window

12. To complete the reconciliation click the Finish button

An alert box will be displayed asking if you want to Finalise the reconciliation—finalisation
involves marking each item as being reconciled so that it won’t appear on the bank reconciliation
again.

13. Click Finalise

The Cancel button will discard the reconciliation.

The Finish Later button is used if you need to stop the reconciliation and come back to it at some
later point.

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MoneyWorks Tutorial Importing your bank statement

Importing your bank statement

Most banks now make bank statements available for downloading from their web sites. MoneyWorks
can import such statements provided they have been downloaded in .QIF (Quicken), .OFX (MS
Money) or .QBO (QuickBooks) formats. Not only can these files be imported, but the transactions can
be automatically allocated to your various accounts based on the text in the transactions, and the
items will be marked as being reconciled—this means you may never have to type in a transaction
again!

If you want to try this, we have included a sample download file with this demo:

1. Choose Load Bank Statement from the Command menu

The Statement Coding window will be displayed.

This allows you to edit and allocate the transactions in your bank statement file before
committing them to MoneyWorks.

Note that most credit card and paypal transactions can also be imported this way

When a bank statement is imported, MoneyWorks creates a transaction for each payment and
receipt on the statement. It will use auto-allocations (that you set up) to do this: for example if your
bank annotates its fees each month with the description “Monthly account fee”, then you can set up
a rule that will automatically code transactions with this description to your Bank Fees account.

Where there is no rule (or no description on the transaction) MoneyWorks will use the default
accounts specified in this window for the transactions it creates. Acme Widgets have set up a special
account called “Unallocated” for these transactions, so they are easy to find and correct.

2. Click Load Statement File

Normally the standard File Open dialog box will be displayed, allowing you to locate the
previously downloaded bank statement. For the purposes of the tutorial file however, you will be
asked if you want to use sample data.

3. Click Yes

A sample bank statement will be loaded for you, and will appear in the list.

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MoneyWorks Tutorial Importing your bank statement

The Account column shows you to what account codes the transactions will be allocated—for
example the transaction to Joe has been automatically allocated to Wages (using an auto-
allocation rule). We can alter these in this window if we wish: for example the payment of
$3,247.91 was to purchases ($3,000) with the balance to freight.

4. Type “6000” into the Account field for that line, and press tab

6000 is the code for our Purchases account. The Amount will be highlighted.

5. Type “3000” into the Amount field and press tab

A new line is inserted. This allows us to record split allocations

6. Type “FREIGHT” into the Account field on the new line

Notice that, just as when entering into a transaction, we get a drop-down selection list. Down-
arrow to “Freight” and press tab. The freight general ledger code will be inserted.

The deposit from Brown Suppliers on the 25 January was for invoice number 2103. MoneyWorks
Gold and Express users will note that MoneyWorks has recognised this and automatically coded
the receipt to "<Invoices>", so the receivables ledger will be automatically updated (this doesn't
apply to MoneyWorks Cashbook as it does not have receivables).

7. To see the invoice allocation, click the <Invoices> cell

The Allocate Receipt to Invoices window will open, showing all outstanding invoices to BROWN
and how the invoice was allocated.

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MoneyWorks Tutorial Preparing Your Tax Return

Note that if for some reason the invoice has been allocated to the wrong customer, just enter the
correct customer code into the Name column, then apply it to the appropriate invoice in the
invoice allocation window that will open.

In practice we would ensure that every payment or receipt was correctly allocated (we won’t
bother to do that here). In MoneyWorks Gold and Express you can allocate a payment/receipt to
outstanding invoices by entering the customer or supplier code in the Name column.

8. Click Accept

The Statement Coding window will close, and the imported transactions will be displayed in the
Transaction list window.

Preparing Your Tax Return

If you are a business then you are probably collecting some sort of tax for the government whenever
you sell something. This might be in the form of a Sales Tax (as in the USA), or a value added tax
(GST/VAT/HST/QST), as in most other countries.

If you are collecting tax in this manner, you will need to report periodically to the government on the
amount that you have collected (and, if outside of the USA, paid). Depending on your country, you
might need to report monthly, two monthly, quarterly or something entirely different. You will also
need to pay them the tax due—they tend to get a bit nasty otherwise.

Provided you have tax tracking turned on (as Acme Widgets do), MoneyWorks will track and manage
this for you. When you need to file your return, you simply print the special Tax Report6 and
transcribe the appropriate numbers to whatever form your Government requires (Business Activity
Statement (BAS) for Australia, GST Return for New Zealand, VAT Guide for the UK, F5 for Singapore
and so on).

Note on Sales Tax and PST

The US and some provinces of Canada have sales taxes, which are a fundamentally
different type of tax to GST/VAT. MoneyWorks handles sales tax (which, unlike a value
added tax, is “expensed” for purchases and not reclaimable). Parts of Canada are
afflicted with both GST and Sales Tax (PST), and again MoneyWorks will handle both
taxes, even when the reporting time frame is different.

Preparing Your VAT/GST/HST Return

This section covers value added tax reporting (GST/VAT/HST/QST). It is not applicable to users in the
USA (but is for those almost everywhere else, including Canada). US users should skip down to the
Sales Tax section.

To print the GST/VAT report:

1. Choose GST/VAT Report from the Reports menu

The GST/VAT Report settings window will be displayed.

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MoneyWorks Tutorial Preparing Your VAT/GST/HST Return

The basis on which you are assessed GST/VAT is shown, as is the cycle cut-off date (you can alter
these if necessary by clicking the “Prefs” button).

2. Check that the “Show Transactions” option is on, and the “and Details” option is off

These are the normal settings for the report, and will list each transaction and its tax component.
This gives you a visual check that GST/VAT has been allocated correctly—provided you have set
up MoneyWorks correctly and have not over-ridden the GST/VAT column it should be correct.

3. Click Preview

The report will be previewed for you. This is comprised of all transactions dated on or before the
tax cycle date that have not previously been processed for GST/VAT. For Canadian users, it shows
HST/QST as well as GST.

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MoneyWorks Tutorial Preparing Your VAT/GST/HST Return

The balance that we need to pay is listed at the bottom—in this case we get a refund.

4. Click the Continue button

The GST/VAT Finalisation window will be displayed.

Finalisation is an important part of the GST/VAT cycle. When you finalise, each transaction is
marked as having been processed for GST/VAT, so it will not appear in future GST/VAT reports.
This means that if you have to go back and correct old transactions, or subsequently find that
you have missed some out, they will automatically appear on your next GST/VAT report, making
GST/VAT processing in MoneyWorks effectively bullet-proof.

5. Set the Finalise option

Two further options become available. Journal to GST/VAT Holding Acct will create a journal that
clears your control accounts based on the report, and the Print Guide Form will print the Guide
form, which guides you on how to fill out your Return to the government.

6. Ensure the two options are on, and click Finalise

The GST/VAT report will be finalised, and the GST/VAT cycle updated ready for your next GST/VAT
return. The GST/VAT Guide print settings window is displayed.

Note that in practice you should ensure you have printed the report before finalising it—this
gives you a permanent record of how your GST/VAT return was done (which you will need if you
are ever audited by the authorities).

7. Preview the GST/VAT Guide form

This relates the information on the GST/VAT report to the appropriate boxes on your GST/VAT
Return form. In practice you would file this and the GST/ VAT report with your copy of the return.

Note that, for some countries, the Guide form has a Show Documentation option. If this is on
when the report is run, the first page of the report contains documentation, and the body of the
report proper will start on the second page.

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MoneyWorks Tutorial Preparing Your Sales Tax Return (US only)

Also note that the Guide form is not available for all countries.

GST/VAT Guide Forms for various countries. These relate your GST/VAT report to your GST/VAT return. Your
figures may be different to those above.

8. Close the Preview window

Preparing Your Sales Tax Return (US only)

If you have been collecting sales tax, you will need to pay this to your local tax authority.

1. To print the Sales Tax report, choose Sales Tax Report (US) from the Reports menu

The Sales Tax Report settings window will be displayed.

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MoneyWorks Tutorial Preparing Your Sales Tax Return (US only)

2. Set the Mode to Sales

The Mode determines how the report is run—if you want to find out more about it, turn on the
Documentation check box.

3. Set the From and To Periods to Jan:2024/25

This is the period for which the Sales Tax will be analysed.

4. Click Preview to display the Sales Tax report output in the preview window.

The report, as shown below, lists all the sales tax transactions for the indicated period range, and
summarizes the total tax collected by tax type (State, County etc). In our example, we only have
one sale to Mary

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MoneyWorks Tutorial Getting Information Out

Getting Information Out

Over time, the transactions you enter into MoneyWorks will form a valuable pool of knowledge
about your business. For example, when you record a sale, you are recording what was sold, when it
was sold, and who purchased it. MoneyWorks can store this data for you (should you wish it) for over
seven years, and provides a number of enquiry and report facilities that enable you to extract
information in useful formats.

Ad hoc enquiries can be made at any time using the commands under the Enquiries menu.
Information can also be printed out as a report, or saved on disk for use in other programs (such as a
spreadsheet) for further analysis or graphing.

We saw before how to print a transaction list. The same concept applies to other lists, with the
options for printing listed in the Reports section of the sidelbar. To illustrate this, we’ll print off a
customer address list for Acme Widgets.

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MoneyWorks Tutorial Ad Hoc Enquiries

1. Choose Names from the Show menu (or press

Ctrl-2/⌘-2)

The Names list window will be displayed.

Take a moment to look at this list—it is very similar to the

Transactions list that we were working with earlier. The list
is divided into views (representing the type of Name), with
a set of tools along the top. Having learnt how to use the
Transaction list, we have also learnt how to use the Names
list (and the Products, Jobs, Accounts and so forth, all of
which are accessible under the Show menu). The key point
is that the same principles apply throughout MoneyWorks,
making it easy to learn and to use.

2. Click the Customers view on the sidebar, and sort the

list by the Name column

The list will display the Acme Widgets customers. We sorted the list as it will be printed in the
same order as on the screen.

3. Click on Address List in the sidebar and click Preview

The report will be previewed.

Close the preview window, and then the Names window (tip: press Ctrl-W/⌘-W).

Ad Hoc Enquiries
Finding an Account Balance

MoneyWorks offers extensive on-screen enquiries. These can be used for providing ad hoc
information. They are particularly useful for extracting information for management purposes.

You can make an enquiry as to the balance of a particular account or range of accounts. Let’s see how
sales are going for Acme Widgets.

1. Choose Account Enquiry from the Enquiries menu (the Reports menu if you are using
Cashbook) or press Ctrl-E/⌘-E

The account enquiry window will be displayed.

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MoneyWorks Tutorial Printing Reports

2. Type “4000” into the Account Code field and press tab

The balances for the Sales account will be displayed (4000 is the general ledger code for sales).

In the enquiry window the period name is displayed in the first (left) column, followed by the
opening balance for the period, the actual amount done in the period, then the closing balance
for the period (which becomes the next period opening balance). The three columns on the right
give comparisons with budget.

3. Click on the Graph tab

The actual sales for each period are displayed as a graph.

4. Click the bar graph button to change from a line to a bar graph

5. Set the Show Budgets option The graph buttons

The budgeted sales will be graphed for comparison purposes.

We’ll “drill down” and see what we actually did in April.

6. Hold the mouse over the April Actual bar or data point so it turns into a magnifying glass, and
then click once

Details of each transaction against the account are listed for the period. This is a normal
MoneyWorks list, so we can sort it and print it if needed. We can even double-click a transaction
to see what it was for.

7. Close the Account Enquiry window (press Ctrl-W/⌘-W)

The Account Enquiry window will close.

Although not part of this tutorial, it’s worth mentioning that similar enquiry screens are available
for looking at customer sales, supplier purchases, product sales and product purchases. This
allows you to look at customer trends, which products are selling and so on.

Printing Reports
A range of standard reports are provided with MoneyWorks. These are listed in the Reports menu.

We’ll print off a profit and loss report for Acme Widgets.

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MoneyWorks Tutorial Printing Reports

1. Choose Profit & Loss Comparison from the Reports menu

The report setup box will open.

Whenever you print a report or list from MoneyWorks a setup window will be displayed. This
varies depending upon what is being printed, and allows you to specify how you want the report
printed.

2. If any of the Options check boxes (Omit Zero Balances, Include Unposted or Print Movements)
are checked, uncheck them

3. Set the Sort pop-up menu to Account Code if not already set to this

4. Set the Period menu in the Time Interval section of the window to “Dec 2024/25”

The time interval pop-up menu allows us to select the period for which we want to report (in this
case the previous month). You can report at least seven years back with MoneyWorks.

5. Click Preview or press enter

The report will be prepared and displayed in the Preview window.

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MoneyWorks Tutorial Entering Transactions for Products and Items

6. Scroll through the report to see what is presented

7. Hold the mouse over one of the line labels (such as Sales or Repairs) and it will highlight

8. Click to drill down to the Enquiries window for that account

9. If you wish, close the Enquiries and/or Preview window (press Ctrl-W/⌘-W)

Report settings

The report settings window offers many different ways of printing the same report. Although we
won’t explore these in this tutorial, it is worthwhile pointing out that you can report on individual
categories, you can report on up to seven years in the past, you can show individual transactions on
reports and much more.

MoneyWorks comes with many other standard reports, including comparisons with budget, twelve
month rolling reports, trial balance, balance sheet and many more. There are also management
reports, such as top sales and commission, and also powerful cash forecasting reports—if you are
keen, have a look at some of them.

Entering Transactions for Products and Items

Acme Widgets sell a number of products. Instead of entering a general description (such as “Sales”)
they want to enter the details of the product and the quantity sold. They can achieve this by using
what is termed an “item transaction”—the ones we have looked at thus far are “account
transactions”.

It is important to realise that you don’t have to have a hard, tangible item to sell to be able to use
item transactions. You might for example be selling time (as a lawyer, an artist, an architect or
whatever), or something else such as a car wash or lawn mowing. The item transactions allow you to
give each of these a code and a standard sell price, and also to determine at a later date the quantity
of hours sold or lawns mowed.

As a general rule, anything you sell whose price or description is fairly constant can be sold as an
item. When you sell several, MoneyWorks will work out the total price.

Mr Brown comes and purchases some widgets, and we need to record the sale. You don’t need to be
in the Transaction list or Navigator to enter a new transaction. You can in fact do this at any time
(even when entering another transaction), provided there is not a modal window, such as an alert,
open.

1. Press Ctrl-Shift-N (Windows) or Option-⌘-N (Mac)7 to open a new transaction entry window

A new transaction window will open. Depending on what you have previously been doing, this
may not be a Receipt.

2. If necessary, set the type to Receipt by using the pop-up menu in the top left hand corner of
the transaction window

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MoneyWorks Tutorial Entering Transactions for Products and Items

Note that the receipt number and the date have already been entered for us.

3. Check that the Bank Pop-up is set to Unbanked ...

... just in case you forgot to click on the pin in the previous receipt!

4. Type “Mr Brown” into the From field

5. Type “Widgets” into the Description field and tab to the detail line

You will note that we haven’t as yet filled in the amount. This is because we don’t know what it
is. But don’t worry, MoneyWorks will calculate it for us.

6. Click on the By Item tab

The detail lines will change, enabling product information to be entered.

7. Type “BB100” into the Item field, then press Tab

The description and price of the item are automatically entered.

BB100 is the code that Acme Widgets have assigned to the type of widget that Mr Brown wants.
Whenever a code is used in the product field, MoneyWorks looks up the description, and price of
the item from the Product file within MoneyWorks (these figures can be overwritten if required).

8. Type “2”, then press tab

This is the number of widgets that Mr Brown purchased. Note that the total price (in the
Extension column) has been recalculated.

He also purchased a small chrome widget. This is a different product to the BB100, and hence must
appear on a separate detail line.

9. Press ↩/return to create a new detail line (or tab through until you get to the next line)

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MoneyWorks Tutorial Entering Transactions for Products and Items

We can’t remember what the product code is, so will just start typing a key word from the
product description.

10. Type “CHROME” (or “SMALL”) and a drop-down list of all chrome (or small) items will appear

11. Use the down-arrow key to highlight the small chrome widget, and press tab

The product code (CA100) and pricing will be entered automatically.

Note the Note that is displayed about CA100. MoneyWorks allows you to have notes attached to
items (and customers, suppliers, accounts, transactions, jobs) to provide information about the
item when it is used. You can position these on the screen so they appear in a place that suits
you.

This completes the transaction—note the transaction Amount is calculated for us.

Posting on the fly

As this transaction is complete, we will finalise it by posting.

12. Click the Post icon (or press Ctrl-K/⌘-K)

An envelope is displayed on the OK and Next buttons.

The post option icon is the envelope next to the OK button. When it is set the transaction will be
automatically posted when you click OK or Next.

13. Click OK

The transaction is posted and saved. To verify this, we’ll look in the transaction list.

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MoneyWorks Tutorial Using Pre-stored Names

14. If the Transaction list is not showing, press Ctrl-T/⌘-T to display it

15. Click on the Receipts sidebar tab to show the Receipts

You should be able to see Mr Brown’s sale (you might need to search the list by typing Brown
into the search box at the top right of the list).

Using Pre-stored Names

In MoneyWorks you can maintain a list of frequently used customer and supplier information. When
you use these in a transaction, the details of the customer or supplier (including address) will be
automatically entered for you.

John Scarlet comes to purchase his weekly supply of widgets. John is a valued customer, and his
name and address have been previously recorded.

1. Press Ctrl-N/⌘-N to create a new transaction

The receipt entry window will open.

2. Set the Customer check box in the top left hand corner

The customer code field will be enabled—if we enter a customer code here MoneyWorks will
extract the customer details from the Names list.

3. Type “SCARLET” and press tab

“Scarlet by Design” will be automatically inserted into the From field.

SCARLET is the code that we have given to this customer. If we couldn’t remember it, we could
have just pressed the tab key to bring up the names choices list.

This week John has purchased 8 medium chrome widgets

4. Enter these details into the item detail line

You’ll need to find the right item code, which you should know how to do by now. You may need
to click the By Item tab.

5. Set the Post option so the transaction will be posted when saved

John has asked if we can give him a receipt for these goods.

6. Set the Print option by clicking on the Printer icon on the bottom right of the transaction entry
screen

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MoneyWorks Tutorial Banking

If the print option is set, MoneyWorks will print the transaction as a MoneyWorks Form when
the transaction is saved.

7. Click the OK button

The transaction is saved, and the Print Receipts window opens.

We use this to indicate which receipt form to use (from the Use Form pop-up menu), any
messages that we might want to put on the form, and how to send it (e.g. print it or email it).

8. Type “Collected by John” in the Message box

9. Click the Preview button

The receipt will be previewed—in practice you would have printed it.

10. Close the Preview window

The transactions list will be displayed.

Banking
Acme Widgets receive money all through the day. They don’t bank each item as it is received, but
hold it and do a combined banking every few days. When money is receipted it is placed into a
special “Unbanked” account—in reality this may represent the bottom drawer or being tucked inside
the deposit book.

It is now time for them to do their banking.

1. Choose Banking from the Commands menu

The Banking window is displayed

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MoneyWorks Tutorial Banking

This lists all the receipts they have made into the special Unbanked account. The receipts are
automatically highlighted and totalled (your total may differ from that shown above).

The Banking window allows us to choose which receipts we want to bank, and creates a single
deposit for us into the nominated bank account. In addition, we can deduct bank fees and
transfer an amount of cash (but not cheques) to another MoneyWorks bank account, such as
petty cash or a till float.

In this case it has been a depressingly quiet time, and there are only three receipts to bank.

2. Click Deposit

The Banking Journal window will be displayed.

This summarises the banking, and allows you to specify the date and description.

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3. Click OK

The receipts will be transferred from the unbanked account to the main bank account. This will
be done as a single (journal) transaction, making it easy to reconcile your bank statement.

Congratulations

You have successfully completed the MoneyWorks Cashbook tutorial (and the first part of the
MoneyWorks Express and Gold tutorials). If you are using MoneyWorks Cashbook, go to the What
Next? section.

If you are using MoneyWorks Express or Gold, the next part of the tutorial covers creating, receiving
and paying invoices (features not available in Cashbook).

Receivables and Payables

Up until now in this tutorial we have only been operating on a cash basis (i.e. entering the payments
or receipts, not the original invoices). Many organisations are cash based, so this is not a problem,
but for other (most) businesses, this means that they do not know how much money they owe (or
are owed) without manually adding up the invoices. Further the accounts are several weeks behind—
income is regarded as income (and taxable for company tax purposes) when the invoice is raised, not
when it is paid. MoneyWorks Express and Gold both have an extensive debtors (accounts receivable)
and creditors (accounts payable) system.

The advantage of running a debtors and creditors system is that you know at any point just how
much you owe and how much is owed to you. In accounting parlance, a debtor is someone who owes
you money; a creditor is someone to whom you owe money.

The debtors system allows you to create and print (or email) invoices, and it automatically records
who owes you money and how much is owed. When the invoices are paid at a later stage, you enter
the payment against the invoice to record that it has been paid.

The creditors system allows you to enter invoices into the system as you receive them. It keeps track
of how much you owe, and who you owe it to. At some later time you will pay the
invoices—MoneyWorks automatically collates the invoices so that you only raise one payment per
creditor.

If you are registered on an Invoice/Accrual basis for GST/VAT, you will need to run a debtors and
creditors system.

Entering a sales invoice

Fred from White Contractors comes and purchases some widgets. White Contractors have an
account with us, so we will give Fred an invoice for the goods.

1. If the transactions list window isn’t in front, choose Transactions from the Show menu (or
press Ctrl-T/⌘-T)

2. Click on the Sales Invoice view in the Transaction List window

The list of invoices will be displayed.

3. Click the New toolbar button (or press Ctrl-N/⌘-N)

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The sales invoice entry window will open.

This is very similar to the cash receipts window.

4. Type “WHITE” into the Debtor field and tab to the Order # field

The name of the debtor (White Contractors) is displayed in the To field. “WHITE” is the code we
have assigned to White Contractors. The Due Date of the invoice is calculated based on the
invoice date and the terms we have agreed with WHITE (which may also affect the discounts and
pricing).

5. Type “102FB” into the Order Number field

This was the order number that White Contractors used. If they hadn’t provided an order
number, we would have left this blank.

6. If you are on a Mac, hold down the Ctrl key and press tab; if you are on Windows hold down
the Ctrl key and press ` (that is the "back-tick", normally at the top left of the kayboard)

The cursor will move to the first detail line, saving us having to tab through several fields.

7. If necessary, click on the By Item tab so you can enter product details

8. Type “BB100” into the Item field, then press Tab

The description and price of the item are automatically entered.

BB100 is the code that Acme Widgets have assigned to the type of widget that White Contractors
require. Whenever the code is used in the product field, MoneyWorks looks up the description,
price and standard discount of the item from the Product file within MoneyWorks (these figures
can be overwritten if required).

9. Type “2” into the Qty field, then press tab

This is the number of widgets that Fred purchased.

He also purchased an extra large chrome taper widget. This is a different product to the BB100,
and hence must appear on a separate detail line.

10. Press ↩/return (or press tab until you reach the next line)

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MoneyWorks Tutorial Entering a sales invoice

A new detail line is created and you should be in the Item field.

We can’t remember what the product code is for the taper widget.

11. Press tab to move out of the field.

MoneyWorks was expecting you to enter a valid product code, so it displays the choices list for
you. This time the choices list contains product information instead of account information.

12. Double click on the chrome taper widget (CB200)

The choices list will close and the product code will be entered automatically.

This completes the transaction. Note that the transaction Amount field has been calculated for
us.

White Contractors will need a copy of the invoice if they are to pay it. We’ll print the invoice off
now, so that Fred can take it with him.

13. Click the Print icon option

A printer icon will appear on the OK and the Next buttons, indicating that the invoice will be
printed when you click one of these buttons.

The Print icon is in the bottom right hand corner of the entry screen.

14. Click on the OK button

The transaction is saved, and the Print Invoice settings window is displayed.

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We use this to indicate which invoice layout to use (from the Use Form popup menu), any
messages that we might want to put on the invoice, and how we want to send the invoice (e.g.
print it or email it).

15. Choose Product Invoice 1 from the Use Form pop-up menu

MoneyWorks supports the printing of different invoice layouts, and we select the one to use
from the Use Form pop-up menu. If we wanted to make this the default form (so that it is
automatically selected the next time we print an invoice), we would click the Pin button next to
the Use Form pop-up menu.

15. Tab to the Message field and type “Collected by Fred”, then click the Preview button

The invoice will be previewed—in practice you would have printed or emailed it.

16. Close the Preview window

The transactions list will be displayed, with the invoice we have just entered highlighted.

Receiving payment for an invoice

At some stage the invoices that we create will (hopefully) be paid. We need to mark them off, and
process the money received.

Let’s assume that we have just received payment from Spring Cleaners Ltd for some outstanding
invoices. There are two ways we can process debtor receipts—if we have a lot we can use the Batch
Debtor Receipts command in the Commands menu or (as in this case) if we only have one or two we
can treat it as a special kind of receipt. Whichever way we do it, the net effect is the same.

1. Set the Transaction list window to display receipts

2. Click the New toolbar button (or press Ctrl-N/⌘-N) to create a new Receipt

The receipts entry window will be displayed

3. In this case, this payment is from a regular customer, so set the customer check box in the top
left hand corner if it is not already set

The customer field will be enabled.

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4. Type “SPRING” (the customer code) and press tab

Because SPRING is a debtor (owes money on invoices), a third tab Payment on Invoice is
displayed in the body of the receipt. This lists all the outstanding invoices for the debtor.

5. Type the cheque amount (1584.56) into the Amount field

This is the amount of the cheque that we have received. We need to allocate it to the invoices
which it pays. They have told us it is for invoices 2076 and 2083.

6. Click on the Outstanding amount of invoice 2076

The outstanding balance of the invoice will be transferred to the Pay amount, which represents
the amount of the invoice that is being paid. You could also have typed in the amount paid
against each invoice straight into the Pay field.

7. Click on Outstanding amounts for invoice 2083

The total amount of the receipt is now allocated. The transaction should appear as follows:

8. Click the OK button

The transaction will be automatically posted for you. The indicated invoices will be marked as
having being paid and so will no longer appear in the receivables list.

Entering a Purchase Invoice

Acme Widgets has just received a couple of invoices. The first is from Newton Power for electricity. It
is dated 15 Jan, and is for $168.75.

This needs to be entered into the system.

1. Move to the Purchase Invoices tab in the transactions window

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A list of purchase invoices will be displayed.

2. Click the New toolbar icon (or press Ctrl-N/⌘-N)

The purchase invoice entry screen will be displayed.

3. Type “NEWPOW” into the Creditor field

The details of Newton Power, which has been pre-entered into the system as a creditor, will
appear in the Purchase Invoice.

4. Change the date in the Date field to 15 Jan 2025

The due date will automatically update.

5. Type “Electricity for December” in the Description field

6. If the entry screen is set for an item invoice, click the By Account tab

We don’t treat electricity as a product.

7. Type “168.75” in the Amount field

As you type this, you will note that the amount is automatically being allocated to the power
account. We have specified in the Name record for Newton Power that any transactions for them
will default to the power expense account, which means that we don’t have to allocate it each
time. As well as speeding up data entry, this also reduces the risk of error.

8. Click the Next button to store this invoice and bring up the next one

Creating a Creditor
The next invoice is from Electrical Supplies, a wholesaler of electrical components that has recently
opened in Newton. Because they are new, they are not on our creditors file. However we expect to
be dealing with them a lot, so we will add them to it. We’ll give them a code of ELESUP.

1. Type “ELESUP” into the Creditor field and then tab

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Because this is not a valid creditor code, the choices window is displayed.

We want to create a new creditor with this code.

2. Click the New button or press Ctrl-N/⌘-N The creditors entry window will be displayed.

MoneyWorks puts the code you entered into the Code field.

3. Tab into the Name field and type “Electrical Supplies Ltd”

The information in the Name field is organised into tabs.

4. Click on the Details tab if it is not the foremost

5. Type “P.O. Box 3” into the first line of the postal address

6. Type “NEWTON” into the next line

There is also room for other address details, and also contact and email information. We’ll ignore
these for this tutorial.

7. Click on the Pricing and Terms tab

These people offer a 5% discount if we pay within 20 days. We set the details of such discounts in
the Name record. This enables MoneyWorks both to account for such discounts, and also to
remind you when they are about to expire.

8. In the Creditor Control section, set the Prompt Payment Discount from None to Within Days,
and type “20” into the days following field, and “5” into the Discount % field

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In general, all transactions from Electrical Suppliers will be for Purchases. We can set this to be
the default allocation for this supplier.

9. Click on the Autocode tab and set the Allocate field to “100”, and the default account to “6000”

This indicates that we want the entire transaction amount (100%) for this supplier to be coded to
the Purchase (6000) account.

10. Click the OK button to save the information entered

The window will close, and the purchase invoice will be displayed again with the appropriate
information carried across.

11. Type “1029” into the Invoice Number field This is the number on their invoice.

12. Type “Cable” into the Description field

13. Type “180” into the Amount field

Note that as we type in the Amount, the auto-allocation that we set up kicks-in, and it is
allocated to the purchases account.

14. Set the post option and click OK

Managing Payables
The Payables list shows exactly who we owe money to (and how much).

1. Move to the Payable tab view

The list of unpaid purchase invoices will be displayed. This is where we can see to whom we owe
money and how much we owe.

2. Sort the list into ascending order by due date

The invoices due soonest will appear at the top of the list.

The Payables list is a good way to manage payment to your creditors. If need be you can have
MoneyWorks issue an alert when a creditor is due to be paid. You can use the Receivables list in a
similar manner to manage your debtors.

Paying Creditors
In the payables list we can see that several invoices are overdue. We need to pay these, which we will
do by cheque. Note that MoneyWorks supports other payment methods—for example you can
create files for direct electronic payment8 (and maybe email the creditor a remittance instead of
posting it).

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There are two ways to pay creditors in MoneyWorks. You can create a payment transaction in a
similar manner to how we previously receipted payment for an invoice. Alternatively, if there are a
number of invoices to pay we can use the Batch Creditor Payments command, which is what we'll do
here.

1. Choose Batch Creditor Payments from the Command menu

The Pay Creditors window is displayed, listing all unpaid invoices.

We need to indicate which invoices we are going to pay.

2. Sort the list by Due Date

The invoices that need payment earliest will be at the top.

3. Highlight the invoices due by the end of December, 2024

You can highlight more than one invoice in the list by holding down the Ctrl/⌘ key and clicking.

4. Click the Full button

The outstanding amount of each invoice will be transferred to the Pay Amount column. This is
how much we intend to pay.

We have also agreed with Beetle Suppliers (BSUPP) to pay $1,000 on their invoice number 11025
(there was a quality issue).

5. Highlight the transaction and click Partial

The partial payment window will be displayed.

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In this, we can specify how much we are going to pay.

6. Type “1000” and click OK

The window will close, and 1000 will be marked for payment of the invoice in the Pay Creditors
window.

7. Click the Next button

The Pay Creditors window will be replaced by Creditor Cheque Run (or, for American users,
Creditor Check Run).

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We use this window to choose the bank account and the cheques that we will be preparing. In
the bottom part of the window it tells us what the total value of the cheques will be and how
many cheques are needed—if, as in this case, we are paying more than one invoice to the same
supplier, only one cheque will be raised for that supplier.

The number of the next available cheque is entered automatically for us. We should check that
this cheque is still available. The cheque number of the last cheque required is also displayed. If
we don’t have enough cheques, we can change this number.

8. Click Next

The Cheque Preview window will be displayed.

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The Use Form pop-up menu at the bottom of the screen allows you to choose in what format (if
any) you want the payments to be printed. You can use the Forms Designer to design additional
formats.

In practice you can use one or more of these options—for this tutorial we’ll assume we are
printing the remittance advice, and hand writing the cheques.

9. Set the Use Form pop-up menu to Plain Remittance and click the Preview button

The remittance advices will be previewed.

10. Click Continue to close the Preview window, then click the Finish button

You will be asked for confirmation

11. Click Create and Post to create and post the payments

The invoices that you have just paid are no longer in the payables list. If you look under the
payments tab, you will see the cheques that we have just written out.

Debtor and Creditor Enquiries

The Payments History enquiry screen gives information on when and how invoices have been paid, or
what invoices are outstanding.

1. Choose Payments History from the Enquiries menu

The Payments History screen will open.

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2. Type “Green” into the Look up by field and press tab or click the Lookup button

All Green’s invoices with their corresponding payments are displayed.

3. Click on the Payments tab

The list will rearrange itself so that it is ordered by payment instead of invoices received. We can
see that they last paid us (for invoice 2046) on the 20th October.

4. Close the Payments History window

Congratulations
That concludes a brief overview of payables and receivables for MoneyWorks Express and Gold.
There is obviously a lot that we haven’t covered, such as head office billing, discounts, subscription
billing, printing statements and so forth. These are covered in the on-line help and the manual.

The remainder of this tutorial covers some of the additional features in MoneyWorks Gold (and
hence you need to be using MoneyWorks Gold to continue). If you are using MoneyWorks Express,
go to the What Next? section.

Inventory and Order Entry

MoneyWorks Gold has a full inventory system with full stock audit trails.

We’ve already been using the inventory system, but you possibly haven’t realised. Every time we
have purchased or sold a widget, MoneyWorks has been quietly adjusting inventory levels and
keeping track of costs. The inventory system is more visible when you use the order entry system.

Order Entry

The Winter bakery has just ordered some widgets for their popular Widget Loaf.

We’ll record this order through the Sales System (as opposed to just entering an invoice). This has the
advantage that, should there be insufficient stock available, the order (or part of it) can be
backordered. In addition, replacement stock can be automatically reordered based on the current
stock and outstanding orders.

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Note that you don’t need to use the sales system to raise invoices—indeed for many types of
organisation (particularly service ones such as lawyers, architects etc.) it is preferable to enter the
invoice directly into the invoice list, as we did earlier in the tutorial.

1. If necessary make the Transaction window the frontmost window by choosing Transactions
from the Show menu (or press Ctrl-T/⌘-T)

2. Click on the Sales Order sidebar tab

All incomplete sales orders are listed here (there are none at the moment).

3. Click the New toolbar button (or press Ctrl-N/⌘-N)

The Sales Order entry screen is displayed.

4. Type “Winter” into the Customer field and press tab

The name of the customer is displayed in the From field. “Winter” is the code we have assigned
the Winter Bakery. Today’s date has been automatically entered for us.

5. Type “123AB” into the Order Number field

This was the order number that Winter bakeries used. The Due Date field in an order is the date
when they would like the goods delivered—we’ll ignore it for this tutorial.

6. Type “Widgets” into the description and tab to the Item field of the detail line

7. Type “BA100” into the Product field and press tab

MoneyWorks checks and displays the item’s availability.

8. Type “10” into the Order field

This was the number of units ordered.

The number of items that we can ship is displayed, and any back-orders calculated, as are the
price and extension (based on the customer’s terms and quantity purchased).

9. Type 12 in the discount column and press tab

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A special discount of 12% has been negotiated for this sale. Note that the amount is
automatically calculated when you press tab.

10. Tab through to the next detail line, and enter the details for purchasing 20 large chrome
bevelled widgets (CB100) at no discount

Note that there are only 18 of these in stock, and we cannot ship the complete order. The
remaining 2 items appear in the B/O (back-order) column.

We now want to process this order and generate an invoice.

11. Change the Process Order pop-up menu to Ship Goods with Invoice

The process order pop-up menu determines what happens to the order when you click the OK
button. In this case we want to supply the available goods along with an invoice. When you do
this the OK button will have a paper icon and a grinder icon on it, representing printing and
shipping respectively. When you click the OK (or Next) button, the order will processed (the
goods taken out of stock and an invoice raised), and the invoice will be printed9.

If you were not shipping the order immediately you would leave the pop-up at Enter Order to
just record the order for later processing.

12. Click OK

The Sales Order entry screen will close, and the Process Order screen will be displayed.

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This screen is used to specify whether the sale is a cash sale or is to be invoiced, and the date
(and accounting period) for the resultant transaction.

13. Click the Process Button

The order will be processed—an invoice will be raised and any inventoried items sold will be
removed from stock.

The Print settings window will be displayed for specifying which invoice format to use, and how
the invoice is to be sent (e.g. printed or emailed).

14. Click the Preview button

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The invoice will be previewed—in normal practice you would print the invoice directly to your
printer.

In this case we have printed the invoice using the “Plain” invoice form. You might like to use one
of the other predesigned invoice forms, or even design your own using the MoneyWorks Forms
Designer.

15. Close the preview window

The Sales Order list will be displayed. The Sales Order that we just processed is still shown as it
has not been completed (when it is complete it will be moved to the Sold tab). The invoice that
was generated can be seen under the Debtor Invoices tab view (in View by Type), and also in the
Receivable tab view (all unpaid invoices are displayed under Receivable, allowing quick and
efficient control of debtors).

Job Costing and Time Billing

If you are an architect, graphics designer, mechanic, lawyer, builder or similar, your income is derived
primarily by selling your skills and time. In order to maximise your income, you need to manage and
record the time you spend on specific projects or for specific clients.

In addition to time, you may have incurred direct expenses in completing the work (courier fees,
parts, subcontractors and more). You will want to recover these expenses from the client when you
bill them, or, if you have provided a fixed quote for the work, you will want to check that you have
made a profit when the job is completed.

The job costing within MoneyWorks does this.

Turning on Job Costing

Because not every business needs job costing, it is disabled by default and needs to be turned on. To
turn the job costing features on:

1. Choose Document Preferences from the Edit menu

The MoneyWorks preferences window will open.

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MoneyWorks contains a number of options that allow you to set it to work in the manner that
best suits your business. These options are accessed through the Preferences command.

2. Click on the Jobs tab

The Preferences window should be as shown above.

3. Turn the Enable Job Costing and Time Billing check box on

The default markup and work-in-progress account fields in the window will be enabled.

To operate job costing correctly, certain information is required:

Default Work-in-Progress account: At the end of the financial year (and indeed, possibly at the
end of each month), you will want to know how much work you have done that has not yet been
charged for. MoneyWorks can calculate this work-in-progress amount for you, and transfer it into
a nominated account.

4. Type “1200” into the Default Work-in-Progress account field

This is the work-in-progress account code for Acme Widgets.

Default markup: Goods or services purchased specifically for a job are often charged out at a
higher rate than what was paid for them. You specify a default markup to use in jobs here—you
can override this later for specific jobs.

5. In the Default markup field type “20”

The markup will be 20% unless otherwise specified.

6. Click the OK button to close the Preferences window

The job costing has now been enabled and can be used.

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Adding a New Job

Acme Widgets have secured a contract to refurbish a widget farm. They want to add this job to the
job file.

1. Choose Jobs from the Show menu, or press Ctrl-4/⌘-4

The jobs list will be displayed.

2. Click the New button, or press Ctrl-N/⌘-N

The job entry screen will be displayed.

3. Type “100” into the Code field

This is the unique code by which the job will be identified. Codes can be alpha-numeric if
required.

4. Type “Refurbish Widget Farm” in the Name field

This is a brief description of the job.

5. Type “Brown” into the Client field

This is the code for the client for whom the job is being done, and must be for a debtor (because
we are going to send them an invoice at some stage). If the client is a new one you can create a
new code and enter the client details at this point. In this case the client is an existing one.

6. Set the Billing menu to Cost Plus

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Jobs can be done either for a quoted fee, or on a time and materials (cost plus) basis, as is the
case for this job. In this case Acme Widgets will be charging a 25% markup on the materials used.

7. Type “25” into the associated % field

That completes the main details of the job—there are other details that we could have specified.

8. Click OK to file the job information

The job entry window will close, and you will see the job listed in the job list.

9. Close the Job list window

Recording Time, materials and disbursements

Having set up a job we can enter time or disbursements against it. This will be accumulated over the
life of the job, and forms the basis of invoices and reports.

Jo Bloggs, the senior widget Engineer, has spent 3 hours with the client discussing the project
implementation and requirements. This is recorded into the Job Sheet Items file.

1. Choose Job Sheet Items from the Show menu (or press Ctrl-5/⌘-5)

The Job Sheet Items list will be displayed.

We need to create a new entry—this goes into the Pending part of the Job Sheets Item file.

2. Click on the Pending sidebar tab if it is not already selected

This shows all unbilled job items—none at this point for Acme Widgets. If you want to see how
much work is yet to be billed for a client this is the place to go.

3. Click the New button or press Ctrl-N/⌘-N

The Job Sheet Items entry window will be displayed.

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4. Type “100” into the Job field and press tab

The job and client details are displayed to the right of the job field.

5. Type “3” in the Qty field

This is the number of hours that are being recorded.

6. Type “T80” into the Product/Resource field and press tab

The total amount chargeable is calculated and displayed. Jo Bloggs is charged out at $80 per
hour10, so three hours of his time is worth $240.

T80 is the code that Acme Widgets use to record staff time that is to be charged at $80 per hour.
In practice you might have different codes for each staff member, and (if one staff member has
more than one chargeout rate) you might assign him or her more than one code.

7. Tab to the Memo field and type “Preliminary Meeting”

This is a description of the work that was done, and completes the entry.

8. Click OK

The Job Sheet Item entry window will close, and the Jobs Sheet Items list window will be
displayed with our entry in it.

Note that we have ignored the date field for the purposes of this tutorial. You would normally use
this to record the date on which the work was done.

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Job Sheet Item List

The Job Sheet Item list window contains a complete history of all activities recorded against a job.
There are four components to the window:

Actual : All actual items (i.e. pending and processed, but not budgets).

Pending : This lists all job sheet items that have been entered but not yet charged out. When the
items are invoiced they will be automatically transferred to the Processed tab.

Processed : This lists all job sheet items that have been charged out (or completed).

Budgets : This lists the budget entries for jobs. The budgets are the planned or expected costs of a
job, and can be used to compare planned with actual expenditure.

Like all MoneyWorks lists, this list can be sorted (by clicking on the column heading) and summed
(Sum Selection from the Select menu).

We can add items to the list singly using the Job Sheet Entry screen as before, or we can do them as a
batch using the “Timesheet Entry”.

Helen Reeves has done 4 hours work in designing the layout of the refurbished farm. She has also
had to use a couple of widgets out of stock, and done some travel. We’ll use a “Timesheet” to record
all of these:

1. Choose Job Timesheet from the Command menu

The Job Timesheet window will be displayed.

2. Set the Timesheet By popup menu to Job if it is not set

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The timesheet entry windows allows for entry by job, resource, cost centre, resource or date—it
depends on how your data is collected as to which will be the most appropriate.

3. Type “100” in the For field and press tab

This is the code of the job for which the work was done.

4. Type “T60” in the Resource field and press tab to go to the next field

This is the chargeout code for Helen. We could of course have a code “HR”for Helen, which
would enable us to identify who did what on the job.

5. Type “4” in the Qty, and “Layout Design” in the Memo field, and press the ↩/return key to
move to the next line

Helen has taken two widgets out of the warehouse, and will record them on this timesheet.

6. Type “BA100” into the Resource field, “2” into the Qty field and field, and press ↩/return to
move to the next line

Because these have already been receipted into the stock system, MoneyWorks will create a
special accounting entry (a stock requisition journal) to transfer them out of stock. This will be
done when the timesheet is accepted.

Disbursements

Thus far we have seen how to enter time and stock requisitions. However jobs also can attract
expenses (disbursements), and if these are tracked they can be recovered from the client.

Helen had to drive 50 kilometres to visit the site of the widget farm. Acme Widgets charge travel at a
flat rate of 54 cents per kilometre.

7. In the Resource field type “KM”, in Qty type “50”, and in Memo type “Travel to Widget Farm”

That completes the entries we want to make on the timesheet. It should look something like this:

8. Click Accept to accept the entries

The entries will appear in the Job Sheet list.

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Trapping disbursements on payments

In the previous examples, it was appropriate to enter the expense record directly into the job sheet
list. Other examples of this might be for photocopy recovery, tolls and so forth. However in many
cases the company will be directly charged for the expense.

As a part of the job, Acme Widgets commissioned some consultants to investigate the environmental
aspects of the refurbishment. This charge against the job can be recorded directly against the job
when the invoice from the consultants is processed in the normal Payables transaction system of
MoneyWorks.

We can enter a new transaction from virtually anywhere in MoneyWorks, without having to go back
to the Navigator or the Transaction list.

1. Press Shift-Ctrl-N (Windows) or Option-⌘-N (Mac)

A new transaction entry window will be displayed.

2. If necessary use the transaction type pop-up menu to change the transaction type to Purchase
invoice

3. In the Creditor field type “BSUPP” (our code for the consultant)

4. In the Invoice # field type their invoice number, “1234”

5. Type “Consulting” into the Description field and “4500” into Amount

6. Type “7080” as the account code in the detail line

7. Type “Consultant’s Report” in the line description

8. Tab to the Job column and type “100”

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To associate an expense with a job you must specify the job code in the job column.

9. Click the posting icon so the transaction will be posted, then click OK

When a transaction is posted, the information in any of the detail lines that contains a job code is
automatically transferred to the Job Sheet Items file.

10. If the Job Sheet Items list is not showing, press Ctrl-5/⌘-5

You will see a new entry with a product code of Job-Misc in the list. This was automatically
created for us when the originating accounting transaction was posted. Note that the amount to
charge has been automatically increased by the job markup percentage.

Invoicing the Job

Thus far we have been entering time and costs incurred in doing the work. We now need to issue an
invoice for the work done. MoneyWorks will create an invoice for us automatically.

1. Choose Bill Job from the Commands menu

The Bill Job window is displayed.

2. Type “100” into the Bill Job field and press tab

A list of all unbilled items in the job is displayed.

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Using this window we can identify the items that we want to bill out, and also specify the total
amount to invoice if it is to be different from the items we have specified.

In this case we want to invoice just the preliminary meeting and the consultants report, so we
need to turn the highlighting off for the other items in the list.

3. Click on each of the other items in the list so that its highlighting is turned off

Note that as you click on each item in the list the total amount to invoice changes.

Before we can generate the invoice, we need to specify how we want the information grouped on
the invoice and (as this is the first time we have used this command) specify some defaults.

Itemise in description : Turn this on so that the information in the Memo field of the job sheet items
is transferred into the description of the invoice.

Miscellaneous items income account : This is the account that MoneyWorks will use when it
generates the invoice if it cannot determine the income account to use from the job sheet
information.

4. Type “4000” into the Miscellaneous Items Income field

5. Click Make Invoice

A sales invoice entry screen will be displayed, complete with the information from the items we
have selected. We could if we want change any of the information (such as the story) at this
point.

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It is important to emphasis that this window contains the accounting details of the invoice, and is
not the invoice itself. This will be printed according to whatever invoice form we choose,
although it will have to draw its base information from this screen.

6. Set the Post and Print options and click OK

The invoice will be posted and the Print Sales Invoice settings window will be displayed.

7. Set the Use Form pop-up menu to Service Invoice 1, ensure that the output is set to the
preview, and click Preview

The final invoice will be displayed on the screen. The layout of the invoice will depend upon what
form was selected. You can design your own forms using the forms design features of
MoneyWorks.

Note that in this instance all the information about the items used for the job have been
itemised into a single line. It may be that you want to show the quantity of each resource used,
or the date upon which work was done. These options are available, and are set using the
Itemise By pop-up menu in the Bill Items screen.

8. Close the Preview window

9. Click the Processed tab in the Job Items List window

You can see that the items that we have included in the invoice have been transferred to this tab.
They no longer show under the pending items. The Processed tab will list all job items billed out.

Job Reports

MoneyWorks comes with a number of reports and forms that allow you to monitor the costs and
progress of a job.

The Detailed Job History report is used to provide a definitive summary of a job. To print this:

1. Choose Jobs from the Show menu or press Ctrl-4/⌘-4

The job list will be displayed. To print the report for a job (or a number of jobs), simply highlight
the job(s) in the list and choose the report in the sidebar. In this case we wish to report on the
Widget Farm job, which is an active job.

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2. Click on the Active tab to display the list of active jobs, and highlight the Widget Farm job by
clicking on it once.

3. Click on Job Detailed in the Reports section of the list sidebar

The settings for the report will be displayed.

4. Set the report settings as shown above and click Preview

The Job history report will be displayed. This provides a complete summary of the job, in this
case organised by resources used. It includes details of the quantity used, their cost and
recovery, and the amount remaining to recover. It also includes a list of any unposted
disbursements against the job, so you can see additional charges that have not yet been
finalised.

Job Analysis Reports

A number of job analysis reports are also provided with MoneyWorks, and you can access these
through choosing the appropriate one from the Job list sidebar, or from the Job Costing item in the
Reports menu. However (and perhaps more importantly, as job requirements vary so much from
organisation to organisation), you can create your own analysis reports11. For example, you might
want a report on who has worked on what job, or what are the actual resources used on a job as
compared to the budgeted resources.

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Job Forms

Using the Forms Designer12, you can also create your own job forms to help record and retrieve
information about a job. A number of job forms have been provided for you: the Job Bag Form for
example will print off an empty time sheet for the job, whereas the Job Work Statement will print off
a form that itemises and summarises the time and disbursements against the job.

To print a job form:

1. Highlight the job(s) for which the form is to be printed in the job list and choose Print Job Form
from the Command menu

The Print Job Form will be displayed.

2. Choose the form to print from the Use Form pop-up menu. In this case use the Job Work
Statement form

3. Click Preview

A form will be printed for each job highlighted in the list.

Congratulations
...that completes the MoneyWorks tutorial—you can of course repeat it (or parts of it) if you feel
enthusiastic!

What Next?
To get more familiar with MoneyWorks, you can use the Acme Widgets file to have a good play. You
might like to look at:

• The contacts management system. This allows you to record details of conversations with your
customers or suppliers, and have automatic followup reminders. The information for this is
stored in the Contacts tab of each name record (you can access the Names list by choosing
Names from the Show menu).
• Emailing yourself a report or receipt, by printing the report (or invoice) with the output set to
email. You should only attempt this if you have your email program setup—by default,
MoneyWorks puts the email into your email program ready for emailing13 (so you can delete it
instead of actually emailing it).

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• Adding some of your own products/items. You can access the list by choosing Items from the
Show menu.
• Modify the general ledger. You can access the General Ledger by choosing Accounts from the
Show menu, and can add, delete or change accounts.
• Printing some of the reports. There are lots of reports in MoneyWorks, and some will be more
relevant to your particular needs than others.

Creating your own set of accounts

You can (of course) set up your own accounts on MoneyWorks (even the demo):

If an accounts document (such as Acme Widgets) is already open:

1. Choose Close document name from the File menu

You should have the MoneyWorks startup screen displayed.

1. Click the New button

You will be asked for the name (and location) of your new data file. You would normally store this
somewhere in your Documents folder.

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2. Click Company to enter your company details

3. Click Periods to specify the start of your financial year. If you are back-entering data, make sure
that you choose a prior financial year

4. Click Accounts if you want to use one of the sample charts of accounts (these are not available
in all countries). This also allows you to specify the Locale for your accounts, which determines
the tax names etc.

5. Click TAX Setup to specify your tax basis

6. Click Accept to accept the setup details (this will not be available unless you have set your
periods)

7. You will be prompted for your opening bank balances—enter the ones from your bank
statement

More detailed information on setting up your accounts can be found in the Getting Started section of
the Manual, and the Getting Started section of the on-line help (under the Help menu).

Note that, if you are using the trial version of MoneyWorks, any file that you create will operate for
45 days or 99 opens, whichever comes first. After this you will require the full version.

Setting up taxes

MoneyWorks currently comes set up with a set of default tax codes and rates. You should check that
these are correct for your country—to view the tax rates:

1. Choose Tax Rates from the Show menu

2. Double click on a tax rate to view/change its rate

The default tax code (and hence rate) to use on a transaction line is associated with the general
ledger code (under Show>Accounts). You may need to change these defaults for some of the
accounts.

US and Canadian users can also set up combination taxes (e.g. GST+PST in Canada, and
State+County+City taxes for the US).

A tax code can also be associated with a customer or supplier, and this will override the one on the
account code. You can of course also override the code or tax amount on the line of a transaction. To
see the tax amount on the line of a By Item transaction you need to go to the Data Entry tab in
Edit>Document Preferences and turn on the Show Tax Column option.

Cost Centres and Departmental accounting

MoneyWorks Gold allows you to manage cost centres—things like departments within an
organisation, branches, properties, vehicle fleets, large projects and so forth. In MoneyWorks, we call
these “Departments”, and to illustrate how these work we will add three for the new shops that
Acme Widgets are opening.

To create a department:

1. Choose Departments from the Show menu, click the New button and add a department with
code “NORTH”, description “North Newton”

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2. Add two more departments (for the other two shops), “EAST” and “WEST”, then close the
Department list window

Grouping like departments

You might need to have different types of cost centre (e.g. if Acme Widgets ran a fleet of delivery
vehicles it would probably treat these as cost centres). We use Department Groups to distinguish
between different types of departments.

1. Choose Department Groups from the Show menu, and click the New button to create a group

2. Type SHOPS into the Code field, then click the Add button to choose which departments
belong to the group. In this case all do, so highlight them all by ctrl/cmd clicking, click Add,
then click OK to save the Group. Close the Department Group list window

Adding accounts

We now need to create accounts for the branches.

1. Choose Accounts from the Show menu and click the New toolbar button to make a new
account

2. Set Code to “4200”, Description to “Branch Sales” and Account Type to “Sales”

3. Set the Dept Group pop-up menu to “SHOPS” and click OK

A single account will be created, but it will have separate ledger records for each shop, allowing
us to code sales directly to the appropriate shop.

4. Create a new Cost of Sales account “6200” for “Branch Purchases”, setting the Dept Group to
SHOPS

Having added accounts to handle our branch income and expenses (in practice we would probably
have more than two), we will record a couple of transactions:

1. Create a new Receipt for the repair of a widget ($50)

2. Click on By Account, set the account code to “4200”, and press tab

The Account Choices will open.

You have specified the account, but not the department (i.e. the shop).

3. Choose Branch Sales, and then North from the department list, then click the Use button

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4. Complete and post the transaction

5. Post a new Payment to Dymocks ($120), coded to “4200-NORTH”

Reporting on a Department

We can use the existing reports to see how a cost centre is performing:

1. Choose Profit and Loss for Year to Date from the Reports menu

2. Click the More Options setting, set the Breakdown pop-up to Department, click on NORTH so it
is highlighted and click Preview

The report will show results for the selected department(s). Because departments can also have
budgets, we can use any of the budget reports to better manage individual cost centres.

Multi-currency

MoneyWorks Gold offers comprehensive support for multiple currencies. By default this is turned
off—you can turn it on to try:

1. Choose Document Preferences from the Edit menu, click the Locale/ Currency tab and turn on
Use multiple currencies in this document

2. Set the Base Currency to your home currency and click OK

To set up the alternate currencies that you want to use:

1. Choose Currencies from the Show menu and click the New button to display the currency setup
screen

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2. Choose a currency from the pop-up menu

You need special accounts to track unrealised and realised gains and losses. There is one already
set up (9900) in the Acme Widgets file for this.

3. Type “9900” into the two accounts, and set an suitable exchange rate

4. Set the I send and I receive invoice options, and click OK

Transferring funds

MoneyWorks has a special command to allow you to transfer funds between bank accounts—we’ll
transfer $1000 into the foreign account.

1. Choose Transfer Funds from the Command menu

2. Set the To Account to your new foreign currency bank account and type 1000 into the Amount
field

Note that the Amount received is calculated for you based on the current exchange rate. In
practice this might be different, so you can alter this (MoneyWorks will handle the exchange
gain/loss automatically).

3. Click Transfer to create the new Payment transaction

Setting up foreign customers/suppliers

To send or receive an invoice to a foreign organisation, you need to create a debtor/creditor in that
currency. Any invoice you send/receive to them will be deemed to be in that currency.

1. Create a new debtor/creditor Name record in the normal manner (see for example Creating a
Creditor

2. On the Pricing&Terms panel of the Name record set the Currency pop-up to your new currency

You can now process invoices/payments in the normal manner, with the proviso that all invoices
are in the currency specified on the name record.

Currency rates

MoneyWorks maintains rates for each currency for each period. You change the rate using
Command>Change Currency Rate. Whenever there is a rate change (or a transaction is entered at a
different rate), MoneyWorks will automatically account for any realised or unrealised gains (these
appear as journals). You can use the Foreign Currency reports to see historic rates and unrealised
gains/losses.

For a complete discussion of the multi-currency, please refer to the manual.

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What Now?
Hopefully the tutorial has either given enough information to get started or shown you the power of
MoneyWorks, but it is possible that you will have more questions.

The MoneyWorks manual is supplied in electronic format and can be accessed directly from
MoneyWorks using the PDF Manual command in the Help menu (on Windows you need to have
a PDF reader, such as Adobe Acrobat Reader, installed). The manual is the definitive reference
guide to MoneyWorks (over 600 pages of riveting prose); it is fully indexed with live cross-
referenced links. Use the search capabilities of your pdf reader to quickly locate the information
you need.

Contextual Help is available by right-clicking and choosing Help, or by choosing Help on this from the
Help menu. This is web-based, and displays in a floating MoneyWorks window.

Additional help for the functions of many buttons, controls and fields can be found by:

Windows: Hovering the mouse over the object for a couple of seconds. Help text will appear at
the bottom of the MoneyWorks application window, or in certain cases as a tooltip;

Macintosh: Holding down the Cmd key and hovering the mouse over the object for a couple of
seconds will normally cause a tooltip to be displayed.

MoneyWorks Community: There is an active MoneyWorks user forum, where you can post (and
answer) questions and share your expertise and experience of MoneyWorks with other users.
You can access this directly through the Navigator or the Help menu

Consulting Support: There is a network of qualified and experienced MoneyWorks consultants and
trainers that you can draw upon for on-line support/training or a visit. As this network is
frequently updated, it is listed (by country) on the cognito.co.nz website.

1
The Acme Widgets tutorial file is located in your Documents folder (Mac) or My Documents (Windows). If you
click the Sample button and the file is missing, MoneyWorks will create it.↩

2
You can change the tax rates to better represent those in your own location, see Setting up taxes. This also
means that, if tax rates change in the future, you can change them in MoneyWorks.↩

3
Actually, to keep things manageable, the display only kicks in when there are twenty or fewer matches.↩

4
British users won on the spelling issue, so consider this a compromise.↩

5
Automatic allocations are set up using the Auto Allocations command in the Show menu.↩

6
In practice this should be done only after all transactions have been entered into the tax period and the bank
reconciliations done.↩

7
If you are a Mac user in the UK (and possibly parts of Europe) you won’t have an option key on your keyboard
as for some reason, possibly just to make documentation harder, Apple have called it alt↩

8
Supported banks only. In Australia MoneyWorks supports the ABA format.↩

9
If you don’t want to print the invoice, click on the Printer icon next to the OK button. You don’t need to print
invoices when they are entered, as they can be printed later.↩

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10
TAX will be added to this if necessary when the job is invoiced.↩

11
For more information refer to the MoneyWorks manual.↩

12
The Forms Designer allows you to design your own invoices, statements, labels etc.↩

13
You can set MoneyWorks to email directly using a mail server in the MoneyWorks Preferences.↩

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