GST on reimbursements got you confused? Here’s how to record reimbursement in QuickBooks Online (QBO) for IRAS compliance in Singapore—made simple.

If you accidentally file a GST return in QuickBooks Online (like clicking the “Mark as Filed” button unintentionally when the cycle isn’t yet due), there is no undo button. You’ll need to contact QuickBooks Support to reverse the filing after identity verification. You cannot fix it yourself; it’s part of the fraud and security control.

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.