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- This is to set the configuration for Sales Tax. This configuration effect Sales related transactions for example, Invoice, Cashsale, Sales Return etc. If a particular branch in the system is not subject to Output Tax, it can be excluded through configuration.
- A valid default GLCode is needed to charge this output tax during the transactions.
- During the sales whether the item price keyed in by cashier is including or excluding tax can be set here as well.
- Rounding option is available to go for accuracy (higher decimal points) or be consistent with accounting (standard upto 2 decimal points)
- Round half-up : 0.001 - 0.004 round to 0.00, 0.005 - 0.009 round to 0.01
- Round up : 0.001 - 0.004 round to 0.01, 0.005 - 0.009 round to 0.01
Purchase (Input Tax)
- This is to set the configuration for Purchase Tax. This configuration effect Purchase related transactions for example, GRN, Credit Memo, Purchase Return etc. If a particular branch in the system is not subject to Input Tax, it can be excluded through configuration.
- A valid default GLCode is needed to charge this input tax during the transactions.
- If a filing method is used for the Tax which requires a different GLCode to be used to charge the Tax after filing is done. This is currently practiced in Thailand VAT.
- During the purchase whether the item price keyed in by user is including or excluding tax can be set here as well.
- Rounding option is available to go for accuracy (higher decimal points) or be consistent with accounting (standard up to 2 decimal points)
- Round half-up : 0.001 - 0.004 round to 0.00, 0.005 - 0.009 round to 0.01
- Round up : 0.001 - 0.004 round to 0.01, 0.005 - 0.009 round to 0.01
- Usually Input tax will be excluded so will uncheck "Enable"
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| Tab | Field | Description | Recommended Value | ||
| General | Tax Country | This will determine how GST is processed and reported. Also, by setting this, all tax codes defined by Royal Customs will be activated automatically | MALAYSIA | ||
| Goods and Service Tax Abbreviation | This is for labelling. Default value is “Tax” | GST | |||
| Sales (Output Tax) | Branch | Normally, if a company is subjected to GST, all its branches will be subjected to GST, except those in Tax Free Zone. | All branches subjected to GST. | ||
| Item’s Default Output Tax Code (Sales) | When this is enabled, when adding new item from Inventory > Item > Add Item, default values : Tax Option = Tax Applicable, Input Tax Code = the chosen GST Code | SR | |||
| Default GL Code | This GL Code will be used to record all Output GST during sales transactions. Ensure this GL Code has already been added into the system first. | gst_Output | |||
| Default GL Code for Bad Debt Relief | When a Supplier Invoice is declared as bad debt, it will increase the Output Tax. For more information, refer to Supplier (AP) Bad Debt Relief | badDebtAP | |||
| Default GL Code for Bad Debt Paid | When a Supplier Invoice is declared as bad debt but later on paid, it will increase Input Tax. For more information, refer to Supplier (AP) Bad Debt Paid | badDebtAP_Paid | |||
| Default GL Code for Deposit | This GL Code will be used to record the deposit’s GST. For more information, refer to Deposit from Customer | gst_Output_Suspended | |||
| Item price include tax rate | By default, item’s selling price is excluding GST. Enable this if the amount keyed in by cashier is inclusive of tax amount. Example : Item Selling Price = Rm100, GST = 6%, Qty sold = 1 If this Option is Disabled, Invoice will show : Sub Total = Rm100, GST = Rm 6, Grand Total : Rm106. If this Option is Enabled, Invoice will show : Grand Total = Rm100, GST : Rm6 | ||||
| Tax Rounding Option | Decides how the GST amount should be rounded. Round half-up : 0.001 - 0.004 round to 0.00, 0.005 - 0.009 round to 0.01. Round up : 0.001 - 0.004 round to 0.01, 0.005 - 0.009 round to 0.01 | 2 decimals, round half-up | |||
| Purchase (Input Tax) | Branch | Normally, if a company is subjected to GST, all its branches will be subjected to GST, except those in Tax Free Zone. | All branches subjected to GST. | ||
| Item’s Default Output Tax Code (Sales) | When this is enabled, items added to PO / GRN will by default, follow the GST Code configured | TX | |||
| Default GL Code | This GL Code will be used to record all Input GST during purchase transactions. Ensure this GL Code has already been added into the system first. | gst_Input | |||
| Default GL Code for filing | This does not need to be set for Malaysia GST at the moment. | <blank> | |||
| Default GL Code for AR Bad Debt Relief | When a Customer Invoice is declared as bad debt, it will increase the Input Tax. For more information, refer to Customer (AR) Bad Debt Relief | badDebtAR | |||
| Default GL Code for AR Bad Debt Recovered | When a Customer Invoice is declared as bad debt but cleared later, it will increase the Output Tax. For more information, refer to Customer (AR) Bad Debt Recovered | badDebtAR_Recovered | |||
| Default GL Code for IRR Adjustment (Advance only) | This GL Code will be used to record GST amount for IRR Adjustment. For more information, refer to Partial Exemption (IRR) | gst_Control | |||
| Item price include tax rate | By default, item’s purchase price is excluding GST. Enable this if the amount keyed in by procurement staff is inclusive of tax amount. Example : Item purchase Price = Rm100, GST = 6%, Qty sold = 1. If this Option is Disabled, GRN will show : Sub Total Rm100, GST Rm 6, Grand Total Rm106. If this Option is Enabled, GRN will show : Grand Total Rm100, GST Rm 6 | ||||
| Tax Rounding Option | Decides how the GST amount should be rounded. Round half-up : 0.001 - 0.004 round to 0.00, 0.005 - 0.009 round to 0.01. Round up : 0.001 - 0.004 round to 0.01, 0.005 - 0.009 round to 0.01 | 2 decimals, round half-up | |||
| Withholding Tax (Customer) | Not applicable to Malaysia | ||||
| Withholding Tax (Supplier) | Not applicable to Malaysia |
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