GST Sales/Purchase Deferred Tax Journal Adjustment: Difference between revisions
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::[[File: Adjustment for GST Sales Purchase Deferred Tax (Bad Debt Relief Recovered)-05.jpg]] | ::[[File: Adjustment for GST Sales Purchase Deferred Tax (Bad Debt Relief Recovered)-05.jpg]] | ||
'''SL-AJS-BD''' : Sales Bad Debt Recovered (Output Tax). | |||
'''PH-AJP-BD''' : Purchase Bad Debt Recovered (Input Tax). | |||
==Adjustment for GST Sales Deferred Tax (AR)== | ==Adjustment for GST Sales Deferred Tax (AR)== | ||
Revision as of 08:18, 24 April 2019
Introduction
- 1. Double entry adjustment for the balance of GST Sales / Purchase Deferred Tax (Bad Debt Relief) AFTER 29 December 2018.
- 2. Add the adjustment amount into Final GST Return (amendment).
-00.jpg)
How to check the Sales/Purchase Bad Debt Recovered amount after Final GST Returns?
Menu: SST/GST | New GST Return...
- 1. Select a date AFTER the Final GST Return Date, eg. 28/02/2019.
- 2. Choose Process As Draft.
- 3. Click on GST Return Draft and print GST Listing.
- 4. Filter the Tax Date (ie. greater than or equal to 30 December 2018).
-03.jpg)
-04.jpg)
-05.jpg)
SL-AJS-BD : Sales Bad Debt Recovered (Output Tax). PH-AJP-BD : Purchase Bad Debt Recovered (Input Tax).
Adjustment for GST Sales Deferred Tax (AR)
Menu: GL | Journal Entry...
-01.jpg)
- 1. Based on the GST Listing (Draft), post the GST Bad Debt Recovered double entry using Journal Entry.
GL Code GL Description Local DR Local CR Add to Final GST-03 GST-202 GST - Sales Deferred Tax 3,600 GST-KASTAM GST - Payable (KASTAM) 3,600 5(b), 18
- 2. Amend the Final GST Return (Aug 2018) at TAP.
- 3. Add the amount into
- a. 5(b)
- b. 18
Adjustment for GST Purchase Deferred Tax (AP)
Menu: GL | Journal Entry...
-02.jpg)
- 1. Based on the GST Listing (Draft), post the GST Bad Debt Recovered double entry using Journal Entry.
GL Code GL Description Local DR Local CR Add to Final GST-03 GST-KASTAM GST - Payable (KASTAM) 600 6(b) GST-102 GST - Purchase Deferred Tax 600
- 2. Amend the Final GST Return (Aug 2018) at TAP.
- 3. Add the amount into
- a. 6(b)
Payment to RMCD
Menu: GL | Cash Book Entry...
- Made payment to RMCD, use Cash Book Entry (PV).
GL Code GL Description Local DR Local CR GST-KASTAM GST - Payable (KASTAM) - Nett Balance 3,000 BANK Bank Name 3,000