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Careware would like to announce the availability to the Malaysia Market the latest version Malaysia GST Advance for Sage 300 ERP 2014.

Malaysia GST Basic.

 

Malaysia GST Advance.


Bad Debts Relief and Recovery

 

GST Bad Debts Relief & Recovery Program.

For any Accounts Receivable invoices > 6 Months, the program will generate a listing of Bad Debts Any such AR transactions which are subsequently settled by the client, the program will generate another return for Bad Debts Recovered as Output Tax.

For any invoices not paid to Supplier > 6 months which the company had claimed Input Tax, the system will generate transactions to reverse the same as Output Tax.
Subsequent payment to Supplier will generate automatically a transaction to Input Tax.

Reverse Charge

 

Reverse charge applies for importation of Services only. When we receive an invoice from our Supplier, we need to uplift a 6% Input Tax and then account for 6% output tax, effect is NIL but needs to be captured for CUSTOM.

Advance function for Mixed Mode.
(Input Tax Recovery Ratio for clients who falls into this category.)

 

Capital Good Adjustment

 

This only applies to client affected by both Standard rated and exempt supplies.

Example: Education. Education is under EXEMPT where UNI cannot claims INPUT Tax and does not account for OUTPUT Tax. However if they run a CAFETERIA, HOSTEL or BOOKSHOP, then they fall into MIXED Mode.

In such scenario, clients are not allowed to claim the FULL 6% INPUT Tax. Instead at the end of each month, IRR program is run and calculation done to determine the % of apportionment for the INPUT Tax against the types of supplies made.  Capital Goods affects only Assets > 100K (excluding GST). Applies in Mixed Mode.

Group Submission

 

Group submission is an options that apply to companies who has many subsidiary and opted to do group submission instead of individual.

The above customized programs by Careware has already been successfully installed and implemented by clients throughout Malaysia.

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