MoneyWorks Accounting Software - Singapore

Claiming the wrong input GST can result in compliance issues, rejected claims, or even penalties. MoneyWorks highlights these anomalous transactions to prompt you to address any mismatches so you can take corrective action before submitting your GST return.

https://www.ledgerworks.asia/post/understanding-anomalous-transactions-in-moneyworks-gst-reporting

Understanding Anomalous Transactions in MoneyWorks GST Reporting An anomalous transaction in MoneyWorks is a transaction where the recorded GST amount doesn't match what the system expects for the selected tax code.

"I'd like to add a new period, but the New button is greyed out!"

Sound familiar? It's one of the most common MoneyWorks questions we hear — and it usually points to a period management issue.

Here's what every MoneyWorks user should know:

🔒 Lock a period when you've finished reviewing it. It prevents accidental back-posting, but you can still unlock it if adjustments are needed. Think of it as a soft close.

✅ Close a period only when you're sure no further changes are required. Closing is permanent — there's no going back.

⚠️ The mistake that catches people out: Closing periods too soon, before the auditor has returned with adjustments. Once closed, those periods are gone. Lock first. Close later.

And if the New button is greyed out? You've hit the 99-period limit. Close some older, fully audited periods to free up space.

Period management doesn't have to be stressful — once you understand the logic, it clicks.

📖 We've written a full guide on this. Link in the comments.

https://www.ledgerworks.asia/post/what-you-need-to-know-about-moneyworks-period-management

What You Need to Know About MoneyWorks Period Management "The New button is greyed out!" If you've ever stared at that screen in confusion, you're not alone. It's one of the most common questions we hear from MoneyWorks users — and the answer usually comes down to how periods are being managed. Once you understand how period management works, it becomes...

Many businesses use the sub-ledger method to track expenses by department, which can lead to an unwieldy number of accounts. MoneyWorks offers a departmental accounting approach that lets you track income, expenses, and assets by business unit without creating new accounts each time a department is added.

https://www.ledgerworks.asia/post/how-to-set-up-departmental-accounts-in-moneyworks-a-smarter-way-to-track-costs

How to Set Up Departmental Accounts in MoneyWorks—A Smarter Way to Track Costs Many businesses use the sub-ledger method to track expenses by department, often resulting in an unwieldy number of accounts. MoneyWorks streamlines this process with a departmental accounting approach, enabling you to track income, expenses, and assets by business unit—without having to create ne...