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MoneyWorks, an accounting software, has proven to be an efficient tool for managing accounting and reporting tasks. Users have praised its …
Overview
What is MoneyWorks?
MoneyWorks is an accounting software designed to provide small and medium-sized businesses with financial management tools. According to the vendor, it offers features such as cashbook, general ledger, accounts receivable and payable, budgeting, fixed assets, and inventory management. The product is...
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What is MoneyWorks?
MoneyWorks is an accounting software designed to provide small and medium-sized businesses with financial management tools. According to the vendor, it offers features such as cashbook, general ledger, accounts receivable and payable, budgeting, fixed assets, and inventory management. The product is said to be suitable for companies of various sizes and caters to industries including retail, professional services, manufacturing, wholesale and distribution, and non-profit organizations.
Key Features
Cashbook: According to the vendor, MoneyWorks provides a fully integrated cashbook that includes features such as general ledger, accounts receivable, accounts payable, budgeting, and fixed assets. It is designed for cash-based organizations, including clubs and societies.
Express: The vendor states that MoneyWorks Express offers invoicing and statement capabilities in addition to the features of the Cashbook. It is positioned as a solution for smaller businesses that require invoicing functionalities.
Gold: MoneyWorks Gold includes all the features of Express and adds functionalities such as cost center accounting, multi-currency support, job costing, and inventory management. According to the vendor, it is suitable for small to medium-sized businesses and is a multi-user desktop software.
Datacentre: MoneyWorks Datacentre is an enterprise-level solution that includes all the features of Gold with enhanced capabilities. It is designed for larger businesses with complex accounting needs and provides a scalable solution for multi-user environments, according to the vendor.
Quoting & Order tracking: MoneyWorks allows users to create and track quotes and orders, streamlining the sales process and improving customer service. According to the vendor, quotes can be easily converted into invoices.
Job costing and billing: According to the vendor, MoneyWorks enables businesses to track costs and revenue associated with specific jobs or projects. Users can allocate expenses and revenue to specific jobs for accurate job costing and generate job-related invoices to track profitability.
Inventory management: MoneyWorks offers inventory management features that enable businesses to manage stock levels and track inventory movements. It allows for tracking stock across multiple locations and warehouses, as well as batch/serial number tracking for better inventory control, according to the vendor.
Multi-Currency: According to the vendor, MoneyWorks allows businesses to conduct transactions in multiple currencies. It enables users to set exchange rates, perform foreign currency transactions, and track gains and losses from currency fluctuations.
Extensive range of reports: MoneyWorks provides an extensive range of reports including financial reports such as Profit & Loss, Balance Sheet, and Cash Flow. It also offers general ledger, sales, purchasing, stock, and inventory reports. Users can create custom reports to meet their specific business needs, according to the vendor.
MoneyWorks Features
- Supported: Accounts Payable
- Supported: Accounts Receivable
- Supported: Bank Reconciliation
- Supported: Billing & Invoicing
- Supported: Expense Tracking
- Supported: General Ledger
- Supported: Multi-Currency
- Supported: Financial Reporting
- Supported: Budgeting/Forecasting
- Supported: CPA Firms
- Supported: Fixed Asset Management
- Supported: Fund Accounting
- Supported: Inventory Management
- Supported: Nonprofits
- Supported: Purchase Order Management
- Supported: Tax Management
- Supported: Transaction Management
MoneyWorks Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Web-Based, Mac, Windows, Linux |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
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- Recommendations
MoneyWorks, an accounting software, has proven to be an efficient tool for managing accounting and reporting tasks. Users have praised its ability to integrate with e-commerce platforms, eliminating the need for manual input of sales transactions. The personal finance tracking feature offered by MoneyWorks enables users to easily manage and track their spending, while the follow-up feature has been appreciated for its usefulness in managing finances. Despite its extensive features, users have found MoneyWorks to be user-friendly, even for those without prior experience in dealing with money. Additionally, the software offers features such as GST tracking, budgeting, and payroll management, which make work faster and easier for users. It has also improved forecasting and financial reporting, particularly for complex situations involving multiple corporations. MoneyWorks has been instrumental in generating personalized invoices and handling transactions in different currencies. Furthermore, it has helped users gain better control over inventory management and prevent financial losses in their companies. By making administrative work more efficient and time-saving, MoneyWorks eliminates the need for overtime and manual accounting processes. Users have highlighted its effectiveness in managing payroll accurately and reducing employee claims. With simplified accounting tasks like generating financial reports and creating invoices, MoneyWorks has become a valuable tool for solving accounting problems efficiently. Users appreciate the highly customizable and collaborative nature of MoneyWorks, which allows for better user-customer collaboration and tracking of online transactions. Its integration capabilities with other business systems provide users with a comprehensive solution for recording financial movements. MoneyWorks has made accounting processes continuous, meticulous, and efficient, resulting in improved billing, collections, bookkeeping accuracy, payroll management, and organizational efficiency. Notably, it is cost-effective and time-saving, making it a valuable investment for organizations. With its simplified processes, MoneyWorks saves time and money in the long run while providing relevant information for tax forms and accounting decisions. Overall, users find MoneyWorks to be an effective accounting software that streamlines accounting applications, increases efficiency, and reduces the need for outsourcing. It solves the problem of easy data sharing among multiple users by allowing users to adjust share settings and easily share access with multiple users.
Ease of Use and Navigation: Users have praised MoneyWorks for its easy-to-learn interface and convenient daily operation. Many reviewers have stated that the software is well-organized, making it effortless to navigate through different features and functions.
Functional Reporting: MoneyWorks provides clear and functional reporting capabilities, allowing users to easily track and analyze their financial data. This feature has been highly regarded by a significant number of reviewers who appreciate the valuable insights provided by the various reports generated by the software.
Flexibility and Customization: The flexibility and customization options offered by MoneyWorks are appreciated by many users. They find it beneficial that the software allows them to customize their organization plans according to specific needs, making accounting processes faster, more efficient, and safer.
Complicated and Not Intuitive: Many users have found MoneyWorks to be complicated and not intuitive to use. They feel that the software's interface is not user-friendly, making it difficult for them to navigate and perform tasks efficiently.
Frequent Crashes and Updates: Some users have experienced frequent crashes with MoneyWorks, which disrupts their workflow and causes frustration. Additionally, they mention that the software requires frequent updates, indicating a need for more effective update processes.
Limited Integration and Manual Input: Users have expressed difficulty in integrating MoneyWorks with other systems as it is not on the cloud. This limitation hinders seamless data transfer between platforms. Furthermore, manual input of transactions is required, leading to human errors and inefficiencies in data entry.
Users recommend MoneyWorks for its simplicity, efficiency, and affordability in managing accounting processes. Many users specifically recommend MoneyWorks for smaller organizations, as it is practical and not overwhelming or confusing. Users also recommend MoneyWorks for tracking billing and invoices, managing party-wise billing and invoices, and performing bank reconciliation. Additionally, users recommend MoneyWorks for its power in the accounting area and its ability to streamline accounting processes. Some users suggest utilizing MoneyWorks' technical support when needed. Overall, users recommend trying MoneyWorks for a free trial if in the market for a new accounting program, as it offers solutions for companies of any size and allows for easy sharing of accounting data across a vast network of users.