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  • GST Amendment PMS

    Uploaded by

    chosoloss
    6 views18 pages
    The document provides instructions for updating an accounting software system to reflect Malaysia's change in GST rates from 6% to 0% effective June 1, 2018. It outlines 4 steps: 1) updating transaction codes in the general ledger, accounts payable, and property management modules; 2) entering invoices and credit notes with the new codes; 3) generating credit notes to reverse the 6% GST charged on past invoices; and 4) generating GST submissions with the new 0% rate. The goal is to accurately account for the GST rate change and associated reversals in the client's financial records.

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    The document provides instructions for updating an accounting software system to reflect Malaysia's change in GST rates from 6% to 0% effective June 1, 2018. It outlines 4 steps: 1) updating transaction codes in the general ledger, accounts payable, and property management modules; 2) entering invoices and credit notes with the new codes; 3) generating credit notes to reverse the 6% GST charged on past invoices; and 4) generating GST submissions with the new 0% rate. The goal is to accurately account for the GST rate change and associated reversals in the client's financial records.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views18 pages

    GST Amendment PMS

    Uploaded by

    chosoloss
    The document provides instructions for updating an accounting software system to reflect Malaysia's change in GST rates from 6% to 0% effective June 1, 2018. It outlines 4 steps: 1) updating transaction codes in the general ledger, accounts payable, and property management modules; 2) entering invoices and credit notes with the new codes; 3) generating credit notes to reverse the 6% GST charged on past invoices; and 4) generating GST submissions with the new 0% rate. The goal is to accurately account for the GST rate change and associated reversals in the client's financial records.

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    © All Rights Reserved
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    of 18

    Advelsoft GST 0%

    Advelsoft GST Amendment


    From 6% to 0%
    UserGuide

    Copyright © Advelsoft (M) Sdn Bhd (855271-W)


    All rights reserved.
    This manual, as well as the software described in it, is furnished under license and may be used or copied only in
    accordance with the terms of such license. The content of this manual is furnished for informational use only, is 1
    subject to change without notice, and should not be construed as a commitment by Advelsoft (M) Sdn Bhd.
    Advelsoft (M) Sdn Bhd assumes no responsibility or liability for any errors or inaccuracies that may appear in this
    documentation. Except as permitted by such license, no part of this publication may be reproduced, stored in a
    retrieval system, or transmitted, in any form or by any means, electronic, mechanical, recording, or otherwise,
    without the prior written permission of Advelsoft (M) Sdn Bhd.
    Advelsoft GST (PMS) |
    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    1. Login GL

    a.) Add TX0 as shown below

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    b.) Add SR0 as shown below

    c.) Add AJS0 as shown below

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    2. Login AP

    a.) Add in TX0 code

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    b.) Enter invoices for Supplier by choosing ‘TX0’ from 01 June 2018 onwards.

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    3. Login PM

    a.) Transaction Code


    Amend SC tax code to ‘SR0’ after 01 June 2018

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    b.) Charges Setup

    Select Month : June or next quarter of invoice to be generated

    Change SC – Tax Code to ‘SR0’ after 01 June 2018

    Generate Tax Invoice and ensure tax code must be ‘SR0’ before proceed after 01 June 2018

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    Following sample Tax Invoice will be generated

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%
    c.) Reversal of GST 6% stated in Custom FAQ 25 May 2018

    i.) Goto File -> Transaction Code, create adjustment code for SC and SF, you may create
    others code if required.

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    ii.) Goto -> File -> GL Distribution

    Tag double entry of accounts for new transaction codes created.

    10

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    iii.) Goto -> Transaction -> Credit Note -> Generate Credit Note

    Select range of unit number, ensure C/N Date to be entered must be after 01 June 2018

    Press Ok

    11

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%
    Enter Unit Price by rate per share unit / build-up x 6%

    Credit Note generated and post as usual

    12

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    Example Tax invoice generated prior June 2018 and GST amount to be reversed.

    13

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    ***Note: There will be rounding error on credit note generated, you may charge to GST
    rounding in account.

    14

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%
    Goto -> Transaction -> Allocate Payment
    To allocate generated credit note to respective unit accordingly.

    15

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    4. Login GST

    Generate GST Submission, following result will be generated.

    16

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    Submission of GST Form 03 still required until further notice

    17

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.
    Advelsoft GST 0%

    18

    Advelsoft GST (PMS) |


    Copyright @ Advelsoft (M) Sdn Bhd, All rights reserved.

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