| gst_Output Tax | |||||
| SR / CM | SR | 100 | INV | SR | 3,000 |
| CM (Credit Note) | SR | 100 | RCT | SR | 100 |
| Refund Deposit | SR | 100 | CM (Debit Note) | SR | 100 |
| gstPayable | 3100 | INV | DS | 100 | |
| GST Adj. | AJS | 100 | |||
| gst_Input Tax | |||||
| GRN / SINV | TX | 1,000 | PR / CM (Debit Note) | TX | 100 |
| SINV (expenses) | TX | 100 | gstPayable | 1300 | |
| JTXN (Imported Goods) | IM | 100 | gst_Expenses | 100 | |
| GST Adj. | AJP | 50 | |||
| CM (Credit Note) | TX | 50 | |||
| PV (expenses) | TX | 100 | |||
| SINV (expenses) | BL | 100 | |||
| gstPayable | |||||
| Jtxn (gst_Input Tax) | 1,300 | Jtxn (gst_Output Tax) | 3,100 | ||
- This journal transaction create after the GST filing
- Based on the above Sample Transaction for month of April 2015, the Journal Entry create on date 2015-04-30
- Transfer the gst_Output Tax (tax code: SR, DS, AJS) to gstPayment gstPayable account, amount RM 3100
- Transfer the gst_Input Tax (tax code: TX, IM, AJP) to gstPayment gstPayable account, amount RM 1300
- Transfer the gst_Input Tax (tax code: BL) to gst_Expenses account, amount RM 100
Accounting > Journal and Ledger > Add Jtxn
Notes / Clarification:
During transactions, gst_input is usually on credit side, while gst_output stays on credit side.
During Journal Transaction for GST payment, we are transferring (debit gst_input, credit gst_output) summation of tax amount to gstPayable.
During the Payment / Claim / Adjustment - we simply move the gstPayable amount to apprpriate GLCode (Bank / otherReceivable / gst_Input)
