Explanation
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1. Control Panel > System Admin > EMP Configurations > Tax > Sales (Output Tax) : assign a GL Code as Default GL Code for AP Bad Debt Relief ( Refer to GST Setup User Guide (2015-04-01), 3.2: Sales (Output Tax)
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3. Date (as of) : Select the 2015 October filling cycle, system will list out the 2015 April outstanding documents. Select the Supplier Invoice to declare Bad Debt, then click "Declare Bad Debt"
Detail explanation on the listing above
Document | Supplier Invoices that have outstanding amount 6 months after being issued |
Amount Before Tax | Supplier Invoice total amount before tax |
GST Input Tax Amount | Tax amount for the Supplier Invoice |
Current Outstanding Amount Before Tax | Supplier Invoice current outstanding amount before tax |
GST for Bad Debt to Declare/Declared | Tax amount for the outstanding amount |
4. Once you click "Declare Bad Debt", a Credit Memo will automatically be created to record the bad debt.
5. Please proceed with the Input Tax Filling Step (Input Tax Filing)
6. The CM recorded in Input Output Tax Invoice Report, tax code: AJS (Output Tax Invoice Report)
7. GST-03 Report, on 5b Total Output Tax (Inclusive of Bad Debt Recovered & other Adjustments)