Submit GST Form 5 to IRAS from the MoneyWorks accounting system digitally.

There are some differences in GST between Reckon Accounts and Intuit QuickBooks; the user should take note of when switching over to Intuit QuickBooks Desktop.

Software: MoneyWorks accounting software There are two methods of computing the GST on Tax Invoice when the invoice contains more than one item with the standard rated supplies. The line item method, which commonly used in accounting software; this method computes the GST on each line item and then sums up the GST amount. The […]

You are supposed to tag RCM GST code to the exchange gain/loss account once the multiple currencies feature has turned on, it helps to segregate exchange gains and loses and record the absolute value to the Box 3 (Total value of exempt supplies) of the GST Form 5 report.

You should not amend the existing transactions once the rate has changed to prevent QuickBooks from recalculating the GST base on the new GST rate…

Malaysia new government has decided to scrap GST (Goods and Services Tax) from June 2018; the standard rated GST is going to reduce from the 6% to 0%. What are those setting which you need to change in MoneyWorks accounting system?