es accounting malaysia gst guide - es2cloud.com gst guide v7.0.pdf · es accounting ecocard...

ES ACCOUNTING ECOCARD SOLUTIONS SDN BHD

ES ACCOUNTINGMalaysia GST GUIDEVersion 5.0.7

Malaysia GST Ready


CONTENTS PAGE

1. Tax Schedule Maintenance 32. Maintain Tax Code 43. Tax Code Listing 54. GST Control Account Setup 65. Capital Goods Adjustment 76. GST Month End Process 8

Step 1. Generate Invoice 8Step 2. Bad Debt Recover 8Step 3. O/S Invoice > 6 months Payment 9Step 4. Close GST Month 11Step 5. Generate GST03 12

7. GST Annual Adjustment 138. My GAF File 149. Audit Trail Report 1510. Reports 15


1. Tax Schedule Maintenance

Go to GST==> Tax Schedule Maintenance

Fill up the period name, commerce date and expire date and click add to create a new tax schedule.

Click Maintain to create new tax code or maintain tax code.


2. Maintain Tax Code

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Tax Code : Tax code to be created.Tax Type : Select from the drop down list, the type of the tax.Transaction Type : Supply or Purchase Tax Code.Description : Description of the tax code.Explanation : Explanation on the tax code.GL Account : Specify the GL account for these tax code.Rate : Specify the tax rate.

After fill up the information, click to add the tax code to the Tax Schedule.

Click the List Tax Codes to display all the tax code which had been created earlier.


3. Tax Code Listing

Listing of all the tax code under a tax schedule.

To modify the tax code, click on the tax code on the left. To delete a tax code, click the Delete on the right.


4. GST Control Account Setup

You must setup the GST Control Account by assigning the proper account for GST control account.If you don't setup the GST control account, the software will generate error when you want to save a newtransaction with GST tax.

GST Input Tax Account : Input Tax ( Current Assets )GST Output Tax Account : Output Tax ( Current Liability )GST Expenses Account : Expenses ( Expenses Account )GST Control Account : Tax payable to Custom Department ( Current Liability )GST Adjustment – AR Bad Debt : AR Bad Debt Account ( Current Liability )GST Adjustment – AP Bad Debt : AP Bad Debt Account ( Current Assets )GST Bad Debt Account : GST Bad Debt Account ( Expenses Account )

go to Setup==> Account Module Setup==> GST Control Account Setup


5. Capital Goods Adjustment ( CGA )

- Fill up the CGA Identifier And Name.- Interval : 10 years for land and building.

: 5 years for others such as machinery equipment.

Click to add the capital goods.


6. GST Month End Process

go to GST==> GST Month End Process

Follow step 1 to 5 to do the GST Month End Process

Step 1 : Generate Invoicea) After you click Generate Invoice, the software will bring you to Delivery Order Transaction Listing Page.b) Select the DO which have not issue invoice and generate the invoice.

Step 2 : Bad Debt Recover

a) Click the Bad Debt Recover and the software will bring you to Bad debt Recover Page.b) Select the Bad Debt Recover from the listing and click the claim. If there is nothing listed in the bad debt recover listing, that mean there is no bad debt recover and you don't have to do anything and go straight to Step 3.

Note : 1) Bad Debt Relief If you debtor didn't pay you after 6 month, you can claim Bad Debt Relief as you Input Tax. ( Because you had been accounted for output tax when you issue tax invoice to your debtor )2) Bad Debt Recover If you had claimed Bad Debt Relief for a particular invoice, and subsequently you received payment for this particular invoice from your debtor, then you must do Bad Debt Recover for this payment. Bad Debt Recover will work out the output tax to be pay back to the Custom Department and generate the necessary accounting entry.


Display a list of Sales Invoice which had been received payment and required to do Bad Debt Recover. Select the Invoice from here to do Bad Debt Recover.

Display a list of Receipt for the Selected Sales Invoice.

Accounting entry

Select Invoice from then select receipt from , then fill up the Description and click

The accounting entry will be generated in

Step 3 : O/S Invoice > 6 months payment

b) Select the payment from the listing and click the claim. If there is nothing listed in this page, that mean there is

Note : You can claim Input Tax on the payment you make for an outstanding invoice more than 6 months old.

a) Click the O/S Inv > 6 Mths and the GST Payment For Outstanding Invoice >6 Months Page will appear.

no payment for O/S Inv > 6 Months and you don't have to do anything and go straight to Step 4.


Note : 1) Outstanding Invoice More Than 6 Month process If you have not pay your creditor after 6 month from the invoice date, you must pay back the Input Tax (which you had claimed earlier ) to the Custom Department.

refer to payment make to Supplier's for the invoice which is more than 6 months old and had done the Outstanding Invoice More Than 6 Months process.

Display a list of Purchase Invoice which had been paid and required to do Payment For Outstanding Invoice More Than 6 Months. Select a Invoice from here to proceed.

Display a list of Payment from the Selected Purchase Invoice.

Accounting entry

Select Invoice from then select payment from , then fill up the Description and click

The accounting entry will be generated in

2) O/S Invoice > 6 months payment :


Step 4 : Close GST Monthgo to Close GST Month End page and click submit to close the GST Month.Once you close the GST Month End, all the GST transaction for that month will be lock.

Note : 1) Both Bad Debt Relief and Outstanding Invoice More Than 6 Month are done automatically by the software once you click the submit button. And the software will generate the accounting entry accordingly.2) Outstanding Invoice More Than 6 Month If you have not pay your creditor after 6 month from the invoice date, you must pay back the Input Tax (which you had claimed earlier ) to the Custom Department.


Step 5 : Generate GST03

Click the generate GST03, and the Malaysia GST Filling Report Page will appear.Select the period to generate GST Filling Info, and the filling information will display as below :

TAP Portal.

You can click the GST03 Form to generate the GST03 form, sign on the form and submit it to custom.

You can click the Generate TAP File to generate the TAP file which you can upload to the custom through custom's


7. GST Annual Adjustment

Fill in the date and description and click Annual GST Adjustment button.The date must be in the second Taxable Period.


8. GST Audit File ( GAF )

Select the period to generate the GAF File or check the preview box and click generate to preview the GAF File.


9. Audit Trail Report

These is for you to generate Audit Trail Reports.

10. Reports All GST Related Reports.

es accounting malaysia gst guide - es2cloud.com gst guide v7.0.pdf · es accounting ecocard...

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