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Priyasri Subramaniam (Unlicensed)

Priyasri Subramaniam (Unlicensed)

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title6. How does the system handle deposit transactions?


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titleFull Deposit

Scenario: In May 2018, customer paid full deposit payment (RCT). In June 2018, the Invoice (INV) is issued or Sales Order (SO) converted to Invoice. RCT in May 2018 has GST output suspended. INV in June 2018 has 0% tax rate. 
Answer:

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titlePartial Deposit

Scenario: In May 2018, customer made partial deposit payment (RCT). In June 2018, the Invoice (INV) is issued or Sales Order (SO) converted to Invoice. Partial RCT in May 2018 has 6% rate included. Another partial RCT in June, will there be 6% tax rate?
Answer: 

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title7. When Sales Order created before 1 June but converted after 1 June, does system auto change the tax rate to 0%?


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title10. How to treat Bad Debt Relief before 1 June and Bad Debt Recovered after 1 June

Scenario: Bad Debt Relief was done in May 2018, Bad Debt Recovered was done in June 2018.
Answer: Bad Debt Recovered need to have 6% tax rate if it is done in June 2018, if it is related to Bad Debt Relief done in May 2018 or before.

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title11. Sales Return

Scenario: Invoice (INV) was issued in May 2018 with 6% tax rate, Sales Return (SR) was created in June 2018. How would the SR be treated for GST? 
Answer: SR in June 2018 need to have 6% tax rate based on the INV issued in May 2018. 

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title12. Consignment

Scenario 1: Customer Consignment Create (CCO) was issued in May 2018, Customer Consignment Return (CCI) was done in May 2018. Consignment Billing (INV) was issued in June 2018. 
Answer 1: Transaction will be as usual. CCO and CCI will have 6% tax rate and INV from consignment billing will have 0% tax rate.

Scenario 2: Customer Consignment Create (CCO) was issued in May 2018, Customer Consignment Return (CCI) was done in June 2018. Consignment Billing (INV) was issued in June 2018.
Answer 2: 


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title13. Invoice

Scenario: Invoice is issued in May 2018 with 6% tax rate and RCT (payment) made in June 2018 with 0% tax rate. 
Answer: 

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title14. What will the tax rate be for BOM items?