We would loose lots of jobs. For example, we don't need 10 energy companies. So every job can be done once. This means people get more spare time.
Another benefit is that the quality of the products get higher. People can focus on the product not on how to make money.
Last benefit I will mention is that everyone can get the products they need. I'm sure we do have the capacity to give everyone an Iphone.
When a mager project needs to be done money all ways gets in the way. With out money the project gets done to perfection and every body enjoys the fruit of there labor. We don't need money it just gets in the way agree. Can you imagine if money was never thought of.
I think there may be a day when money will no longer be necessary. When this day comes, we may no longer have extremes such as the mega rich and the very poor. Not having money would tend to put everyone on an even playing field. Everyone would contribute to society, everyone would get food and housing in return, and everyone would have access to the same level of medical care.
We do not have to live in a monetary system, as we currently do. We could live in a world without money, but first we would have to address some other major issues. If the countries of the world agreed to erase the national debt for all the world countries, that would be a starting point.
There was a time in the past when society functioned without money, therefore it is entirely possible for society to function without it. Humans lived for years without money or currency, they used a barter and trade system. I think these systems are actually better because they tend to serve the needs of the individual better. Money has led to massive capitalist system that depends on consuming products a person doesn't even really need.
Paper currency has no intrinsic value, but it does serve as a universal way to demonstrate accumulated value. Thus, even in prison where access to paper money is prohibited, inmates create systems to signal wealth.
The major advantage of currency over barter is its flexibility. You can take it anywhere, and you can have it be accepted anywhere. Imagine having to drag your corn around with you until you could find someone willing to trade you beef. In reality, you would never do so, and would trade primarily with your direct neighbors. In other words, you would be poor beyond the extent of your current imagination.
If what you really want is for people to no longer keep score of what they've produced, this answer won't satisfy you. But then, neither will reality.
Money is a big part of how the world is ran today. You have so many different policies, trades, and events that work strictly off of money so money is very important, and a big part of how countries function. This will never change even in the future as technology and monetary needs become more advanced.
I do not think that society can work without money. I think that there are just way to many different ways people would argue about what can replace currency as a fair trade to services. I think that a society without money would cause more problems and issues in todays world.