Latest revision as of 04:00, 11 October 2018

Bad Debt Relief/Recovered

GST registered person is eligble to claim the bad debt relief even if it spans on or after 1 September 2018.
Bad Debt Relief is allowed to be claimed within 120 days from the SST effective date (eg. 1 September 2018).
Bad Debt Recovery made on or after 1 September 2018 must to be paid as output tax to RMCD within 120 days from the SST effective date by amending the Final GST Return.

Final GST Return Processor

Menu: SST/GST | New GST Return...

1. System will AUTO define the last taxable period (A), eg...

Process From	Process To
01/07/2018	31/08/2018

2. Set the Process Date (B) as the date submit the Final GST return before 29 December 2018 (within 120 days from the SST effective date).

a) For example,

b) Double entry for Cases 1.

C) Double entry for Cases 2.

@@ Line 1: / Line 1: @@
-==Bad Debt Relief/Recovered==
+=Bad Debt Relief/Recovered=
 # GST registered person is eligble to claim the bad debt relief even if it spans on or after '''1 September 2018'''.
 # Bad Debt Relief is allowed to be claimed '''within 120 days from the SST effective date (eg. 1 September 2018)'''.
@@ Line 5: / Line 5: @@
 <br />
-:For example, on '''13 SEPT 2018''', my company has received a supplier tax invoice dated '''07 MAY 2018''' and amount inclusive GST is '''RM10,600'''.
+::[[File:GSTSST-Transitional_01b.jpg]]
-::[[File:GST-FinalReturn 02.jpg]]
 <br />
-===Enter at Purchase Invoice===
+==Final GST Return Processor==
-''Menu: Purchase | Purchase Invoice''
+''Menu: SST/GST | New GST Return...''
+::[[File:GSTSST-Transitional_02.jpg]]
-::[[File:GST-FinalReturn 03a.jpg]]
 <br />
-:1. Set '''Date'''.... to record the original invoice date (eg. '''07 MAY 2018''').
+:1. System will AUTO define the last taxable period '''(A)''', eg...
-:2. Set '''Posting Date'''... to post this transaction into GL reporting as at '''13 SEP 2018'''.
+::{| class="wikitable" border="1"
- Note:
+|-
- To enable to set Posting Date, the '''Double Document Module''' is required.
+! Process From
+! Process To
-:3. Set '''Tax Date'''...to declare this GST input tax into '''Final GST Returns (31 AUG 2018)'''.
+|-
+| 01/07/2018
-::[[File:GST-FinalReturn 04.jpg]]
+| 31/08/2018
+|}
 <br />
-===Enter at Supplier Invoice===
+:2. Set the Process Date '''(B)''' as the date submit the Final GST return before 29 December 2018 (within 120 days from the SST effective date).
-''Menu: Supplier | Supplier Invoice''
+::a) For example,
+::[[File:GSTSST-Transitional_03.jpg | 1000PX]]
-::[[File:GST-FinalReturn 05.jpg]]
 <br />
-:1. Set '''Date'''.... to record the original invoice date (eg. '''07 MAY 2018''').
+::b) Double entry for '''Cases 1'''.
-:2. Set '''Posting Date'''... to post this transaction into GL reporting as '''13 SEP 2018'''.
+::[[File:GSTSST-Transitional_04.jpg | 1000PX]]
- Note:
- To enable to set Posting Date, the '''Double Document Module''' is required.
-:3. Set '''Tax Date'''...to declare this GST input tax into '''Final GST Returns (31 AUG 2018)'''.
-::[[File:GST-FinalReturn 06.jpg]]
 <br />
+::C) Double entry for '''Cases 2'''.
+::[[File:GSTSST-Transitional_05.jpg | 1000PX]]
-===Enter at Cash Book (PV)===
-''Menu: GL | Cash Book Entry...''
-::[[File:GST-FinalReturn 07.jpg]]
 <br />
-:1. Set '''Date'''.... to record the original invoice date (eg. '''07 MAY 2018''').
-:2. Set '''Posting Date'''... to post this transaction into GL reporting as at '''13 SEP 2018'''.
-:3. Set '''Tax Date'''...to declare this GST input tax into '''Final GST Returns (31 AUG 2018)'''.
-::[[File:GST-FinalReturn 08.jpg]]
-<br />
-==Final GST Returns==
-''Menu: GST | New GST Return''
-:Process GST Returns up to '''31 AUG 2018'''.
-::{| class="wikitable"
-|-
-! Items !! style="text-align:right;"| Value
-|-
-| 6a || style="text-align:right;"| 10,000
-|-
-| 6b  || style="text-align:right;"| 600
-|}
- NOTE:
+=Retention Invoice Payment=
- * Final GST Returns until '''31 AUG 2018'''.
- * Last date of submission for the '''Final GST Returns''' is '''29 DEC 2018'''.
-<br />
 ==See also==