For Input and Output Tax which is declared, TreezSoft cloud accounting system will auto-generat journal entry as screenshot below.
Recording Payment made or refund received to or from the custom
If you have paid GST to custom department in Malaysia, or have received GST refund from customs after submitted GST-03, you'll have to record the payment or refund in Treezsoft as well.
*Note: Please ensure you have submitted GST Return in Treezsoft and verified that the journal entry is auto generated before perform the following steps.
Payment of GST to Custo department in Malaysia
To record payment of GST, go to: Banking > Cash Payment
Charge the payment to GST Clearing Account and save.
Claim of GST that refund from Customs
To record claim of GST go to: Banking > Cash Receipt
Charge the payment to GST Clearing Account and save.
RMCD : Royal Malaysian Customs Department
You can continue reading on GST in TreezSoft blogs through these links:
TreezSoft is a cloud accounting software for Small and Medium-sized Enterprises (SMEs). It allows you to access your financial information anytime, anywhere. It also allows you to have unlimited users for FREE for your account in TreezSoft. Our aim is to help reduce our clients' time spent on accounting mainly by using our automated processes and integration to help increase their company effeciency at a minimum costs. SMEs can use TreezSoft to keep track their expenses, accounts, daily operation e.g. Point of Sales (namely QPOS) system and etc.
Visit TreezSoft at http://www.treezsoft.com/ to sign up for a 30 days trial account with us!
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