Questions about MoneyWare 2000 and Accounting

Q: Is MoneyWare 2000 double-entry accounting program?
A: Yes.

Q: Does MoneyWare 2000 perform accrual or cash accounting?
A: MoneyWare 2000 uses the accrual basis for accounting, but you can use the cash basis if you create pending invoices and pending purchase orders.

Q: How does MoneyWare 2000 post transactions?
A: MoneyWare 2000 uses "real-time" posting to update your accounting records, which means that each transaction immediately affects your company's records as soon as it's recorded. Other accounting software products force you to create a bunch of transactions (often called a "batch") and then post them all at once before they affect your company's records.

Q: Are you allowed to make changes or delete a transaction once it has been recorded in an MoneyWare product?
A: Yes.

Q: How many months are you allowed to have open (that is, available for transaction entry and adjustments) in MoneyWare products?
A: You can have a maximum of 24 months open at a time.

Q: Is MoneyWare 2000 restricted to a calendar year?
A: No. Any fiscal 12-month period can be used. An optional 13th period is also available, if you wish to track adjustments to transactions during the fiscal year.

Q: What about my accountant? If I use MoneyWare, how can they work with my data?
A: We've worked closely with professional accountants for some time now. Many accountants now have MoneyWare themselves and can work directly with your information.

You can backup the required information or simply give it to them on a diskette, and they can provide their adjustments on a diskette which you can easily restore back into MoneyWare.

If you or your accountant have any questions about how MoneyWare stores accounting data, ask them to send us an email at support@money-ware.com  or call us at 022-5680 5638 / 39 / 40 / 41 / 42