Real-Time Link Between Ostendo Continuum and MoneyWorks

Ostendo Continuum connects real-time with the MoneyWorks range, giving businesses a smooth flow of information between operational activity and financial reporting.

Compatible moneyworks Versions

• MoneyWorks Data Centre
• MoneyWorks Now

MoneyWorks is a higher level accounting system that comes with an advanced report writer. MoneyWorks offers:

• Multi-dimensional Chart of Accounts Structure: With MoneyWorks you can structure your account any way you want and dice and slice it for reporting and enquiry purposes (augmented by the categories and accountants parallel chart).
• Department/Cost Centre Accounting: MoneyWorks provides true cost centre accounting in its General Ledger (GL) using the Department feature.

MoneyWorks DataCentre is installed as a software application on your computer and server. The database is installed on your server but can be accessed over the internet. The MoneyWorks DataCentre database can be backed up.

Live, real-time connection

The link between Ostendo Continuum and MoneyWorks is fully automated and real-time. As long as your internet connection is active, Ostendo posts data to MoneyWorks every 15 minutes. This creates a connected operational and financial system without manual intervention. The connection is powered by the MoneyWorks API.

---

How the MoneyWorks Accounting Link Works

Operational Transactions Managed in Ostendo

Ostendo Operations handles all operational processes—jobs, sales, purchasing, manufacturing, and cost management. It then posts the resulting General Ledger transactions, Customer and Supplier Invoices directly into MoneyWorks using pre-defined mapping rules.

Financial Management in moneyworks

MoneyWorks is used for:

• Financial reporting
• BAS/GST submissions
• Bank reconciliations
• Accounts receivable and payable
• Multi-currency (Premier)

This division of responsibilities allows each system to do what it does best.

---

accounts receivable processing

• Sales invoices are created in Ostendo (from jobs or sales orders).
• Invoices are automatically posted to MoneyWorks.
• Customer payments are normally entered in MoneyWorks using Bankfeeds, which updates invoice payments back in Ostendo.
• Where required, such as for Point-of-Sale, payments can be processed in Ostendo and posted to MoneyWorks.

---

accounts Payable processing

Supplier invoices related to inventory or job costing are entered in Ostendo for three-way matching against purchase orders and receipts. Alternatively, supplier charges can be recorded directly on a job or work order when no purchase order exists (e.g., subcontractor charges).

These invoices are then posted to MoneyWorks for payment processing. Routine business expenses such as rent, utilities, and administration costs continue to be entered directly into MoneyWorks.

---

Customer & Supplier Cards

Ostendo Continuum automatically updates customer and supplier card files into MoneyWorks, keeping both systems aligned without double entry.

---

Multi-Currency Handling

MoneyWorks supports full multi-currency—and Ostendo posts foreign currency transactions and invoices into MoneyWorks.

Alternatively, Ostendo can still record foreign currency transactions and convert them to local currency when posting to MoneyWorks (without calculating exchange gains and losses).

---

Collaboration With MoneyWorks Partners

We implement and support the Ostendo MoneyWorks accounting link, but we do not support MoneyWorks directly. Instead, we collaborate with MoneyWorks Partners and accountants who specialise in MoneyWorks to ensure a smooth, professional end-to-end connection.

---

The MoneyWorks Accounting Link

See the Ostendo Continuum accounting link in the MoneyWorks Blog  Ostendo