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1 Peter Tan 1 Peter Tan GST Training Accounting
1Peter Tan 1Peter Tan
GST Training
Accounting
2Peter Tan 2Peter Tan
1. Training Arrangement
0900 ~ 1300 Setting Up for GST, Transactions involved GST,
Reports and GST Return, Special Topics.. (a pre-set
account book will be provided).
1300 ~ 1400 Lunch break
1300 ~ 1700 Practice session – Participants practice with GST
function using own database, by restoring his own
backup file or creating a new account book.
3Peter Tan 3Peter Tan
2. Activate GST Malaysia
1. Create a new database
2. Activate GST
3. GST Start Date and Taxable Period
4Peter Tan 4Peter Tan
3. Update Company Profile
1. GST ID
2. Set Default Report Header
5Peter Tan 5Peter Tan
4. Tax Code Maintenance
1. Configure Malaysia GST with wizard
2. Modify listing of selected tax codes
3. Setting Default Tax Code
• In General
• By Stock Item (Easy Item setting)
• By Debtor/Creditor
• By GL Account (mention)
4. How does default tax code work
5. Examine default GL Account at GST Processor
6Peter Tan 6Peter Tan
5. Update Chart of Account
1. Insert new accounts
2. Assign MSIC code
3. Assign default tax code
7Peter Tan 7Peter Tan
6. Transaction – Purchase
1. Purchase invoice
• From GST supplier (full tax invoice)
• From GST supplier (simplified invoice)
• From non-GST supplier
• Use of ‘GST Adjustment’
2. Purchase Return
3. AP Invoice Entry
4. AP Payment
8Peter Tan 8Peter Tan
7. Transaction – Sales
1. Sales invoice
• Local supply (full tax invoice)
• Local supply (simplified invoice/cash sale)
• Export
• Relief Supply
2. Sales CN
3. AR Invoice Entry
4. AR Payment
9Peter Tan 9Peter Tan
8. Transaction – GL
1. Cash Payment – with / without GST
2. Cash Payment - blocked input tax
3. Journal Entry – Omitted input tax
10Peter Tan 10Peter Tan
9. GST Processor
1. Run GST Processor wizard
2. GST-03
3. GST Return File
4. GAF
5. Other reports
6. Saving GST Processor
7. Submit GST Processor
8. Reconciliation of Input Tax & Output Tax
9. Payment of GST due
11Peter Tan 11Peter Tan
10. Bad Debt Relief
1. Claim bad debt relief
2. Bad debt relief recovery
12Peter Tan 12Peter Tan
11. Gift Rule
1. Gift more than RM 500
2. Gift more than RM 500
accumulative
13Peter Tan 13Peter Tan
12. Imported Goods
1. Purchase Invoice – use of IM-GDS
2. Payment Voucher – use of Imported Goods Document
3. Auto-generate Journal entry
14Peter Tan 14Peter Tan
13. Imported Services
1. Purchase Invoice – use of IM-SVC
2. AP Payment – knock off will auto-generate Journal entry
3. Option – Imported services for making non-taxable supply
15Peter Tan 15Peter Tan
14. GST on D/O (21-day rule)
1. Outstanding DO in current period that was transferred to
Invoice in the following period (within 21 days), no journal
entry will be generated.
2. Outstanding DO in current period that was transferred to
Invoice in the following period (>21 days), or not yet
transferred (still remain outstanding) after 21 days from
DO date. During GST Processor need to Generate GST
for DO..
In next taxable period, GST Processor will need to
Generate GST for reverse transferred DO.
16Peter Tan 16Peter Tan
15. GST on Payment (deposit)
1. AR Payment / AR Deposit / AR Credit Note – unapplied;
Auto-generate Journal entry
2. Knock off in the following period…. Auto-generate Reversed
Journal entry
17Peter Tan 17Peter Tan
16. Practice (Afternoon session)
1. Restore
2. Activation & setting Start Month and Taxable Period
3. Update Company Profile, Default report header
4. Tax Code Maintenance, default tax code in general, by item, by
debtor/creditor
5. Update chart of account, insert account, MSIC code, default tax code
6. Examine default GL account for posting purpose.
7. Transaction – Purchases / Sales / GL
8. GST Processor, GST-03, Return File, GAF
9. Special topics – bad debt relief, gift rule, imported goods, imported
services, GST on DO, GST on Payment.
10. Backup
18Peter Tan 18Peter Tan
www.autocountsoft.com
Thank You
