GST treatment for CONSIGNMENT SALES
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2.1 Control Panel > System Admin > EMP Configurations > Trading
Account Payable Not Due GL Short Hand: Select: accPayableInTransit
2.2 Control Panel > System Admin > EMP Configurations > Procurement >
Supplier Consignment GL Short Hand > Select: suppConsignmentStock
Supplier Consignment Variance GL Short Hand > Select: consignmentStockVariance
3. Received Consignment Stock from Supplier
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- Must Keyed in the Consignment Value and record the gst
- it will not create the Supplier Invoice (SINV)
sample JTXN @ RM 1000 + 6% GST
Debit Credit suppConsignmentStock 1000 This GL is taken from EMP Configuration > Procurement > Supplier Consignment GL accPayableInTransit 1000 This GL is taken from EMP Configuration > Trading > Account Payable Not Due GL To view the Journal Entry: Accounting > Journal and Ledger > Jtxn Listing
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