Tax Code Maintenance

Tax Type Maintenance is where user able to Create new, Edit and Delete tax code in the system.

Go to GST > Tax Code Maintenance

Creating New Tax Code

To create new tax code, just click on the New button and fill in the required information on the prompted dialog box. For MYR or SGD tax currency, please refer to Configure Malaysia GST and Configure IRAS GST for setup.

Tax Code: Name of the tax code, must be unique among all tax codes.

Active: To indicate whether this tax code is enabled and can be selected in transaction.

Default: To indicate whether this tax code is default tax code in the system. User can set 1 default tax code for supply and 1 default tax code for purchase.

Tax Account No.: Tax account for posting purpose. Zero-rated tax code(s) do not need to fill in this.

Zero Rate: To indicate whether this tax code is a zero-rated tax code.

Use Transaction Account No. for Posting: Option to post unclaimable amount to the account selected instead of Tax Account No.

Description: Define the description of this tax code.

Tax Percentage: Define the tax percentage of this tax code.

Sales/Purchase: Define tax code belong to Sales or Purchase. This will determine the tax code can be selected from Sales or Purchase transactions.

Govt. Tax Code: Define government tax code to map against system tax code. Currently only support for Malaysia and Singapore government tax code.

Configure Malaysia GST

This is a special function designed for MYR currency account book. Account book with tax reporting currency MYR can only access this function. The purpose of this function is to provide an easy walkthrough for user to setup their tax codes.

Step by step guide on Configure Malaysia GST setup:

1. Click on the button Configure Malaysia GST to start setting up tax codes.

2. A tax code wizard will appear to guide user step by step. It will ask user some simple questions to determine the behaviour of their business to setup the tax codes. Click next to start.