In Malaysia, tourism tax is a fixed tax (RM10.00) imposed on tourism sector by the government. Since the tourism tax is a fixed price, there are two ways that TreezSoft cloud accounting software you can enter the tourism tax with: treat it as a stock item or account only. Which strategy you would like to use depends on how you are going to issue your invoice in (either for account only or stock involved)
1st strategy: Stock item
Step 1: To create a new account, navigate through: Company > Chart of Accounts. Click “New Account” button at the bottom right corner.
Enter the account detail as below. Click “Save” button once you have done.
Step 2: Create a new Stock Group “Tourism Tax” and link both sales and purchase account to above account, and set “OS” to Sales Tax, “OP” to Purchase Tax, navigate through: Stock > Manage > Stock Groups. Click “New Stock Group” button at the bottom right corner.
Enter the stock group detail as below. Click “Save” button once you have done.
Step 3: To create new item “Tourism Tax”, and linked with above Stock Group, navigate through: Stock > Manage > Stock Items. Click “New Stock Item” button at the bottom right corner.
Enter the stock item detail as below. Click “Save” button once you have done.
Step 4: When creating invoice, always insert it as new line, navigate through Customer > Sales Invoices. Click “New Sales Invoice” button at the bottom right corner.
Enter the details and click on “Save” button once you have done.
Note: Remember to set the GST as “OS”. (out of scope sales)
2nd strategy: Charging to account only
If you are going to charge invoice directly to account only, then just need to complete step 1 and jump straight to step 4.
You can read more on invoicing in TreezSoft by visiting these links:
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