WMS-1202 GST Filing with Wavelet EMP

WMS-1202 GST Filing with Wavelet EMP

Detail Content:

GST Filing Checklist

1. Please make sure the Financial Year added (Add Financial Year)
2. Please make sure the Tax Year added (first taxable period is the same as the GST registration approval letter) (Add Tax Year)
3. Create the Filing Cycle (Tax Filing Cycle Create)
   
4. Input Tax Credit Transaction (Expenses, Credit Card Charges, Bank Charges(GST on Credit Card Charges (Manually))
5. GST Adjustment (AJP/AJS : GST Adjustment, Rounding Adjustment in GST Input Tax, TX-RE : Capital Goods Adjustment)
6. Declare AR Bad Debt (for Over six months outstanding invoices) - Filing on October 2015 (Customer (AR) Bad Debt Relief)
7. Declare AR Bad Debt Recovered (for previously declared Bad Debt) - Filing on November 2015 (Customer (AR) Bad Debt Recovered)
8. File Output Tax (Output Tax Filing)
9. Declare AP Bad Debt (for Over six months outstanding invoices) - Filing on October 2015 (Supplier (AP) Bad Debt Relief)
10. Declare AP Bad Bebt Paid (for previously declared Bad Debt) - Filing on November 2015 (Supplier (AP) Bad Debt Paid)
11. File Input Tax on Imported Goods (Tax on Imported Goods)
12. File Input tax (regular transaction) (Input Tax Filing)
13. Reports for Submissions : GST-03 (GST-03 (GST Tax Return)
14. Reports for Submissions (upon request from Royal Custom): GST Audit File (GAF) (GST Audit File)
15. Supporting Reports
    i) Simplified Tax Invoice Report
    ii) Output Tax Invoice Report
    iii) Input Tax Invoice Report
    iv) Output And Input Tax Summary Report
16. i.) Payment of GST (Create Payment Voucher for GST payable)
    ii) Returns of GST (Received Payment from RMCD)
17. Lock Filing Cycle (Tax Filing Cycle Listing)
18. Lock Financial Period (Edit Financial Year and Period)

Optional:

Create Journal Transaction for
i) GST payable (Journal Transaction for GST Payable)
ii) GST claimable ( Journal Transaction for GST claimable)