Software: MoneyWorks accounting software
If you have been using the MoneyWorks accounting software before the localisation of “Malaysia GST”, you can change the setting from the “Document Preferences”. From the “Edit” menu, select the “Document Preferences”, then change the “Localisation” setting at the “Locale/Currency” tab.
After localisation had changed to [Malaysia G.S.T.], both the “GST-03 Guide (Malaysia)” and “GST Audit File (Malaysia)” reports will be automatically added to the “Reports” menu.
You may have to add the relevant GST code and GST rate into the “Tax Rate” list (The “Tax Rate” list is under the “Show” menu).
Example: you may add a new standard rated GST code and link it to the relevant “Tax Paid” and “Tax Received” account.
So when the GST code is being used in the transaction, it will be posted to the correct GST account.
Tips: Create a new MoneyWorks document with localisation set as [Malaysia G.S.T.], follow the Tax Code and Tax Name used in the new document and duplicate it to your existing company file.