AutoCount New GST Feature
AUTOCOUNT NEW GSTFEATUREPrepared by Jae Sen
INTRODUCTION This training assume that you had some basicknowledge of AutoCount and GST Features (TaxCode Maintenance, how to run GST Processoretc.)Covered topics are new functions and featuresintroduced since version 1.8.11
WHAT’S NEW
GST DATE AND DEFERRED TAX ACCOUNT
GST DATE AND DEFERRED TAX ACCOUNT
WHAT’S NEW
5 CENTS ROUNDING
5 CENTS ROUNDING 3 Options: Disable 5 Cents Rounding Enable 5 Cents Rounding Enforce 5 Cents Rounding
5 CENTS ROUNDING
5 CENTS ROUNDING
5 CENTS ROUNDING
WHAT’S NEW
DOCUMENT ROUNDING METHOD Whole Document Rounding v1 (obsolete) Whole Document Rounding v2 Line by Line Rounding
DOCUMENT ROUNDING METHOD
DOCUMENT ROUNDING METHOD
DOCUMENT ROUNDING METHOD
DOCUMENT ROUNDING METHODWhole Document RoundingITEMQty Price GST Before RoundGSTTOTAL(INC)Item A113.110.78660.7913.90Item B113.110.7866 (1.5732)0.78 (1.57)13.89Item C113.110.7866 (2.3598)0.79 (2.36)13.902.3641.69Total13.11 x 3 39.3339.33 x 0.06 2.36
DOCUMENT ROUNDING METHODLine by Line RoundingITEMQty Price GST Before RoundGSTTOTAL(INC)Item A113.110.78660.7913.90Item B113.110.7866 (1.5732)0.79 (1.58)13.90Item C113.110.7866 (2.3598)0.79 (2.36)13.902.3741.70Total13.11 x 3 39.3339.33 x 0.06 2.36 (Different with Final GST)
WHAT’S NEW
GST ON BANK CHARGES Support Bank Charge with GST Supported Entries: AR Receive PaymentAR DepositAR Deposit RefundAR RefundAP Receive PaymentAP DepositAP Deposit RefundAP RefundReceipt VoucherPayment Voucher
GST ON BANK CHARGES
GST ON BANK CHARGES
GST ON BANK CHARGES
WHAT’S NEW
SELF-BILLED APPROVAL NO.
SELF BILLED APPROVAL NO.
WHAT’S NEW
GST DETAILS Previously at earlier version, fields such asBusiness Registration Number (BRN), BusinessName was located as Master FieldNow these fields had been moved to DetailAny other GST Related fields had also beensummarized into 1 field called GST Details foreasier Data Entry
GST DETAILS
GST DETAILS
GST DETAILS
WHAT’S NEW
LOCAL GST ADJUSTMENT
LOCAL GST ADJUSTMENT
WHAT’S NEW
IMPROVEMENT ON IMPORTED GOODSDOCUMENT Auto Highlight Colour for PI Info Added Import Declaration Number (K1 No.) Added Custom Assessed Currency Rate, triggerCustom Assessed Amount to recalculate ifchangedAdded GST Adjustment
IMPROVEMENT ON IMPORTED GOODSDOCUMENT
WHAT’S NEW
POSTING TO TRANSACTION ACCOUNT FORTAX CODE BL
POSTING TO TRANSACTION ACCOUNT FORTAX CODE BL
POSTING TO TRANSACTION ACCOUNT FORTAX CODE BLWithout using Posting to Transaction for Account
POSTING TO TRANSACTION ACCOUNT FORTAX CODE BLUsing Posting to Transaction for Account
POSTING TO TRANSACTION ACCOUNT FORTAX CODE BL If you change the setting for this, please logoutand re-login AutoCount AccountingSetting will not apply to transactions that iscreated earlier, only the next transactionIf you want this setting to affect your earliertransactions, you will need to run the RepostFunction in AutoCount Management Studio
WHAT’S NEW
TAX TRANSACTION AUDIT TRAIL REPORT Mainly to check your day by day transactions indetailSupport filtering by Tax Code, Account Numberor by Document type
TAX TRANSACTION AUDIT TRAIL REPORT
TAX TRANSACTION AUDIT TRAIL REPORT
WHAT’S NEW
LEDGER REPORT ADD TAX CODE
WHAT’S NEW
GST INSTANT INFO
GST INSTANT INFO Mainly to view up-to-date Tax Summary withoutrunning GST Processor Flexibility to change the date range by clicking on the“Change” button Flexibility to change the refresh interval by clickingon the “Setting” button No Journal will be generated, meaning GST on DO,GST on Payment and GST on Gain Loss is notprocessed
WHAT’S NEW
MSIC CODE FOR GST ON DO AND GSTON PAYMENT Previously if there is any GST on DO or GST onPayment, these amount will not tied to any MSICCode and fall into the “Others / Lain-lain” columnat GST-03 FormNow these amount will be tied to a MSIC Codeafter some changes in our auto-generatedJournal processed by GST Processor
MSIC CODE FOR GST ON DO AND GSTON PAYMENT MSIC Code set at Account Maintenance, need toset for every Account that affect your Sales: Sales (Credit Sales and Cash Sales Account)Sales Adjustment (Discount and Return Account)Other IncomeSales Accounts Sales – Software (62010), also set as Default SalesAccountSales – Hardware (46510)Sales – Consultancy and Services (62021)
MSIC CODE FOR GST ON DO AND GSTON PAYMENT In DO, now we had added a new Column AccNo intodetail field No worries as this AccNo in DO will not post into youraccounts (GL/AR/AP) The Journal generated by GST Processor will nowcapture that selected AccNo’s MSIC Code for that lineitem in DO and apply the Tax Amount to it For GST on Payment, it will capture your DefaultSales Account’s MSIC Code which you can set atTools Options GL Default Acc and apply theTax Amount to it
MSIC CODE FOR GST ON DO AND GSTON PAYMENT
MSIC CODE FOR GST ON DO AND GSTON PAYMENT
MSIC CODE FOR GST ON DO AND GSTON PAYMENT
MSIC CODE FOR GST ON DO AND GSTON PAYMENT
MSIC CODE FOR GST ON DO AND GSTON PAYMENT
WHAT’S NEW
IMPROVED SECURITY FOR DO ANDPAYMENT
WHAT’S NEW
GST ON REALIZED GAIN LOSS As quoted by YYC – Jacky Chan Master: “10 CommonMistake in GST-03” during GST Submission Forget to include the Gain or Loss on ForeignExchange into Box12, please use Tax Code ES43 So please, enable your Tax Code ES43 at Tax CodeMaintenance GST On Realized Gain Loss is only available if youenable the Multi-Currency Module
GST ON REALIZED GAIN LOSS
GST ON REALIZED GAIN LOSSExample: Purchase Invoice 1Document Rate: 2.8 Document Total: 500 Full payment with PV Rate 2.7 (500 x 2.8) – (500 x 2.7) 1400 – 1350 50 (GAIN) Purchase Invoice 2Document Rate: 2.8 Document Total: 800 Full payment with PV Rate 2.9 (800 x 2.8) – (800 x 2.9) 2240 – 2320 -80 (LOSS)
GST ON REALIZED GAIN LOSS
GST ON REALIZED GAIN LOSS
GST ON REALIZED GAIN LOSS
WHAT’S NEW
GST 03 - INFO Added GST 03 - Info for user to fill in Fields included: Name of Authorized PersonIdentity Card No. (New)Identity Card No. (Old)Passport No.NationalityAmendmentCarry Forward Refund for GST
GST 03 - INFO
GST 03 - INFO
GST 03 - INFO GST 03 Info is required if you wish to commit theGST ProcessorTicking the Amendment Checkbox will cause theGST 03 Form “Pindaan” or “Amendment” to beticked as wellTicking the Carry Forward Refund for GST willcause the GST 03 Form Item 9 to tick “Ya” or“Yes”
GST 03 - INFO
GST 03 - INFO
WHAT’S NEW
GST ATTACHMENT 2 (LAMPIRAN 2)
GST ATTACHMENT 2 (LAMPIRAN 2)
WHAT’S NEW
IMPROVED GST 03 FORM Since this is a fixed format Form from custom,what can be improved from AutoCount?Well, now you can do this in AutoCount:
IMPROVED GST 03 FORM
WHAT’S NEW
TAX TRANSACTION CHANGEMANAGEMENT As we know, in AutoCount Accounting, after youhad run GST Processor and Commit a TaxablePeriod, the transactions will be lockedIf you wish to make changes to the transactions,you will need to use the Manage Exceptionfunction in AutoCountTo use Manage Exception it will be a littletedious and therefore, AutoCount will like tointroduce all of you TAX TRANSACTIONCHANGE MANAGEMENT
TAX TRANSACTION CHANGEMANAGEMENT
TAX TRANSACTION CHANGEMANAGEMENT Assuming a taxable period had already beencommitted and there are some changes need to bedone, the system will prompt a message as awarning for such changeWarning message will detect the changes madeand warn user the severity or impact of suchchanges to this taxable period
TAX TRANSACTION CHANGEMANAGEMENT
TAX TRANSACTION CHANGEMANAGEMENT
TAX TRANSACTION CHANGEMANAGEMENT
TAX TRANSACTION CHANGEMANAGEMENT
TAX TRANSACTION CHANGEMANAGEMENT
TAX TRANSACTION CHANGEMANAGEMENT
TAX TRANSACTION CHANGEMANAGEMENT
WHAT’S NEW
TAX TRANSACTION CHANGE TRACKERREPORT
TAX TRANSACTION CHANGE TRACKERREPORT
WHAT’S NEW
GST ACCESS RIGHT
GST ACCESS RIGHT
ACCESS RIGHT Special mention for Tax Transaction ChangeControllerIt will always capture the highest access right ofthat user or group among the permissionprovided to save Low, Medium and HighMeaning a user can make changes of all 3 levelsby just assigning its permission at the strongestseverity – High. No need to assign to Low orMedium
MSIC CODE FOR GST ON DO AND GST ON PAYMENT MSIC Code set at Account Maintenance, need to set for every Account that affect your Sales: Sales (Credit Sales and Cash Sales Account) Sales Adjustment (Discount and Return Account) Other Income Sales Accounts Sales – Software (62010), a
gst 201 8am- 10am gst 102 gst 102 gst 102 gst 105 gst 105 gst 105 12pm- 2pm gst 102 gst 102 gst 102 gst 105 gst 105 gst 105 y 9 arts management sciences education engineering environmental sci. law law science social sciences arts day faculty science social sciences arts management sciences
Budgeted balance sheet This budget is prepared using the asset, liability and owner’s equity accounts. If GST payable (on GST collected) is GST input tax credits (on GST paid), the net GST payable is shown as a current liability. If GST payable (on GST collected) is GST input tax credits (on GST paid), the net GST input tax
3. Implementation of GST And Acts of GST 4. Whom to Register under GST 5. Who is Exempted from Register under GST 6. GST Composition Scheme 7. Invoice and Its Format under GST 8. Bill of Supply and Its Format under GST 9. E – Way Bill under GST 10. Time of Supply under GST 11. Place of Supply of Goods
ii. Invoice No. Follow – to set the invoice no. You can either choose AutoCount or Site Giant invoice numbering format. By selecting AutoCount, the invoice numbering will follow AutoCount’s invoice numbers and would change SiteGiant invoice numbers after synchronizing Sales Orders from Site Giant to
GST For Jewellers Frequently Asked Questions . 2 1. What is GST? Ans- GST is an indirect tax which will eliminate various taxes like VAT tax, Excise, Service tax, Octroi, etc. 2. From when will be GST implemented? Ans- GST is likely to be implemented from 1st July 2017. 3. Is income tax required to be paid after GST? .
GsT – COmpleTInG yOur ACTIvITy sTATemenT 5 01 TermS We uSe When we say: n sales, we are referring to the GST term supplies n purchases, we are referring to the GST term acquisitions n GST credits, we are referring to the GST term input tax credits n reporting period, we are referring to the GST term tax period
(Malaysia) BL 6 % Purchases with GST incurred but not claimable (Disallowance of Input Tax) (e.g. medical expenses for staff). GST Goods And Services Tax (Malaysia) NR 0% Purchase from non GST-registered supplier with no GST incurred. GST Goods And Services Tax (Malaysia) ZP 0% Purchase from GST-registered
build-up and as a follow-up to the 11th World Trade Organization (WTO) Ministerial Conference (MC11) in December 2017. At MC11 in Buenos Aires, differences on digital commerce could not be bridged. Views were significantly opposed. Discussions were heated. While negotiators cannot reach compromise let alone consensus, the digital economy continues to grow very fast, with major economic and .
