Print Ledger Report: Difference between revisions

Revision as of 07:28, 9 January 2017

[GST | Maintain Tax ...]

1. Click New.

2. Follow the below SETTINGS to create.

Field Name	Field Contents
Code	ND-0 (Recommended code)
Description	Non-Deductible
Tax Type	(Non GST - Both Sales & Purchase)
Tax Rate	0% (please key-in)
Tax Account	GST-301 (This field is compulsory. Due to tax rate is 0%, therefore no posting)
Tax Inclusive	Untick

3. Click Save. See below screenshot.

NOTE : 

Do not click the tax rate arrow key down if the tax account is not defined yet.

For Purchase Invoice

1. Insert a new detail row and key-in the total input tax not going to claim.

2. Select the tax code "ND-0".

3. See below screenshot.

For GL Cash Book

1. Insert a new detail row and key-in the total input tax not going to claim.

2. Select the tax code "ND-0".

3. See below screenshot.

NOTE: 
Please ensure you understand the Non-Deductible expenditure from your auditors before you apply this guide.

[ GL | Print Journal of Transaction Listing...]

1. Select the date range to APPLY.

2. Filter at the Tax grid column. See screenshot below.

3. You can see the non-deductible transactions filtered by ND-0.

4. From this instance, the total non-deductible expenditure amount is Rm3030.00

NOTE: 
This non-deductible tax amount will not post to GAF.

@@ Line 1: / Line 1: @@
-<big>Print Ledger Report</big>
-'''GST Expenditure (Effective from YA 2015)'''<br />
-:1. para 39(1)(o): GST input tax paid or to be paid not allowed as deduction if:-
-::a. Non-registered person with turnover exceed GST threshold of Rm500,000.
-::b. Registered person fail to claim input tax credit his entitled to claim.<br />
-:2. section 39(1)(p): Output tax absorbed by GST by registered person is not allowed as tax deduction.<br />
-:3. GST block input tax & deductible expenses:-
-::{| class="wikitable"
-|-
-! Block Tax !! GST input Tax !! Tax deductible?
-|-
-| Passenger car (Cost and maintenance)  || Blocked || Deductible (to claim capital allowance)
-|-
-| Club subscription fee || Blocked || '''Non-deductible'''
-|-
-| Medical insurance/personal accident insurance || Blocked || Deductible
-|-
-| Family benefits || Blocked || Depend (check with your auditors or tax consultant)
-|-
-| Entertainment expenses (Potential customer) || Blocked || '''Non-deductible'''
-|-
-| Entertainment expenses (Supplier) (p || Blocked || Allowed 50% deduction
-|}
-<br />
-==How does this work?==
-===Setup New Tax Code===
 ''[GST | Maintain Tax ...]''<br />
 :1. Click New. <br />