Accounting Malaysia GST Training -...

AutoCount Accounting (GST) Training

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Accounting

Malaysia GST

Training

4. Tax Code Maintenance

Peter Tan



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4. Tax Code Maintenance

4.1 Configure Malaysia GST

Go to GST > Tax Code Maintenance > Configure Malaysia GST

Click this

Click next



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Click next

Choose

Yes or No

Click next

Choose

Yes or No



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Click next

Choose

Yes or No

Click Finish



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Click Save Check to select.

Uncheck to ignore.

The system has proposed few new GL accounts and if you

agree, will generate them and tie to respective tax codes.

You may change the proposed account no., account

description and account type.

Tax code maintenance is completed. To modify the selection, click on

Configure Malaysia GST.



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For input tax, additionally, check the following tax

code: NR and ZP.

Tax codes for

Input Tax

Click Save



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4.2 Setting Default Tax Code in general Click to select a tax code (for each category), click on Edit and set as Default.

2. Check Default

1. Highlight a tax

code of input tax

3. OK

2. Check Default

1. Highlight a tax

code of output tax

3. OK



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4.3 Setting Default Tax Code by Stock Item You may set default tax code for any of the Stock Items, especially if the tax code for such item is

different from default tax code in general.

Go to Stock > Stock Item Maintenance, select the stock item, click on Edit, set the default Supply Tax

Code and Purchase Tax Code:



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4.4 Setting Default Tax Code by Debtors/Creditors You may set default tax code for any of the debtors/creditors. For example, default tax code for an

overseas customer can be set to ZRE which means Output Tax 0% - Zero Rated Supplies (Exports); default tax code for a supplier who has not registered as GST Taxable person should be NR (Input Tax

0% - Non GST supplier)…

Setting Default Tax Code for Debtor a. Go to A/R > Debtors Maintenance

b. Select the debtor, click on Edit, click on Others tab, set the default GST Tax Code:

c. Similarly for Creditor Maintenance.

4.5 Setting Default Tax Code by GL Accounts

You may set default tax code for any of the GL accounts at G/L > Account Maintenance. (see chapter 5)

Assign default tax code



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4.6 How does Default Tax Code work For sales and purchase documents, the priority will be given in the following order: Debtor/Creditor

Stock Item Tax Code Maintenance. Please be aware that even though default tax code is set, you are

able to select other tax code during transaction/entry.

For GL, AR and AP entries, the priority will be given in the following order: Debtor/Creditor Account

Maintenance. Please be aware that even though default tax code is set, you are able to select other tax

code during transaction/entry.

For example:

Scenario 1: If you are making wholly standard rated supply, you may set the default tax code as follow:

At Tax Code Maintenance: default input tax code (TX_S), default output tax code (SR_S) At Creditors Maintenance: set default tax code (NR) for those suppliers who are not GST-registered;

(IM-GDS) for overseas suppliers of standard rated goods; (IM-SVC) for overseas suppliers of

standard rated services. At Debtors Maintenance: set default tax code (ZRE) for those overseas customers. At Account Maintenance: set default input tax code (BL) for expenses accounts where input tax is

blocked.

Scenario 2: If you are making both standard-rated supply (majority) and zero-rated supply, you may set the default tax code as follow:

At Tax Code Maintenance: default input tax code (TX_S), default output tax code (SR_S) At Stock Item Maintenance: for zero-rated items, default input tax code (ZP) and default output tax

code (ZRL); you may use ‘Easy Item’ to easily set the default tax codes for large volume of stock items. Alternatively you may also update the related fields using ‘Export to Excel’ and “Import From

Excel’. At Creditors Maintenance: set default tax code (NR) for those suppliers who are not GST-registered;

(IM-GDS) for overseas suppliers of standard rated goods; (IM-SVC) for overseas suppliers of

standard rated services. At Debtors Maintenance: set default tax code (ZRE) for those overseas customers. At Account Maintenance: set default input tax code (BL) for expenses accounts where input tax is

blocked.



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4.7 Examine Default G/L Account at GST Processor Go to GST > GST Processor, Options > Settings

Check if the respective GL accounts are assigned correctly.

1. Click on Options > Settings

2. Default GL account for

posting purpose

3. Summary style

(recommended)

4. OK



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Appendix

How to use Easy Item for stock item setting (setting of default tax code by items)

Go to Stock > Stock Item Maintenance

Click on

Find Stock Item

1. key in keyword / define search

criteria for searching purpose.

2. Click on Search

3. Check

All

4. Easy

Item



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5. click to select all

6. Range Set

7. check the checkboxes and define the default tax code for all the selected stock items.

8. Save

Accounting Malaysia GST Training -...

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