partial exemption & capital goods...
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Partial Exemption & Capital Goods Adjustment
Account | Billing | Stock | POS | Payroll | Mobile
28 March 2017 Oasis Corporate Park, Selangor.
ISV/Software Solutions
Presentation Slides (simplified version)
AutoCount PE & CGA
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Periodically/Annually: - Observe De Minimis Rule - Compute IRR / AIRR - Compute input tax claimable - Perform period / annual adjustment - Generate Journal Entries - Posting to GST-03
Enter transaction with correct
taxcode
You just need to
And the system will
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Partial Exemption Module
- Capture AIRR from PE calculation - Compute CGA - Generate Journal Entries - Posting to GST-03 For 5 / 10 years
Maintain Capital Items
You just need to
And the system will
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Capital Goods Adjustment Module
Thank You
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AutoCount PE & CGA
Presentation Slides (extended version)
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AutoCount PE & CGA
Basic Setup
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AutoCount PE & CGA
2 Options: i) PE or ii) PE & CGA
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Modules
OS-TXM OS-TXM-CG
NTX NTX-CG
ES-CG ES-GU IES
TX-ES-CG TX-IES-CG TX-RE-CG
TX-ES TX-IES TX-RE
AJP-O AJP-A AJP-CG
Input tax
Output tax
DS DS-ATMS DS-I
SR-S RS GS
ZRL ZDA ZRE
SR-CG ZDA-CG ZRE-CG RS-CG GS-CG AJS-O
AJS-A AJS-CG
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Tax Codes Activated
Generated G/L account
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Auto Configuration
Partial Exemption Module
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AutoCount PE & CGA
Enter transactions
Compute De Minimis Rule,
IRR & input tax claimable
Posting to GST-03 and
Journal
Compute AIRR & annual/
longer adj amount
Posting to GST-03 and
Journal
Manual System
System
System System
Period Adjustment
System
Choose the correct tax code during transaction
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PE Flow
Summary of processed
PE by period
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GST Processor – PE
Double click to view details
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GST Processor – PE
Elements of O1 and O2
Double click to view
transaction details
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GST Processor – PE
Double click to view
calculation of De Minimis
Rule
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GST Processor – PE
Calculation of De Minimis Rule
Calculation to observe De
Minimis Rule
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GST Processor – PE
Double click to view calculation
of IRR, RE claimable/not
claimable
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GST Processor – PE
Calculation of IRR, RE
claimable and not claimable
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GST Processor – PE
Click to view Journal Entry
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GST Processor – PE
Journal Entry generated by system
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GST Processor – PE
Click to view Journal Entry
(period adjustment)
Summary of Longer period
adjustment
Auto-processed on
the 2nd taxable period
each year
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GST Processor – PE
Click to view Journal Entry
of longer period
adjustment
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GST Processor – PE
Double click to view
transactions
Double click to view
calculations
Double click to view
Journal Entry
User-maintained vs system generated
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PE Maintenance
Capital Goods Adjustment Module
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AutoCount PE & CGA
Maintain Capital Goods
Capture AIRR from PE
calculation
Compute CGA amounts
Posting to GST-03 and
Journal
Manual System System System
Maintain Capital Goods
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CGA Flow
May enter multiple
items
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Capital Goods Maintenance
Double click to view
calculation
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GST Processor – CGA
Calculation of IRR, Base %, CGA % and
amount
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GST Processor – CGA
Double click to view
journal entry
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GST Processor – CGA
Show all intervals
(5 or 10 years)
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CGA Schedule
Colour to indicate type
of record
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CGA Schedule
Special Scenarios
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AutoCount PE & CGA
Case A: 100% Claimed
• I just realized I am a mixed supplier
• I have claimed all the residual input taxes.
Case B: 0% Claimed
• I know that I am a mixed supplier but I did not claim any residual input tax AND
• Now I want to claim it.
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Scenario 1
Case A: 100% Claimed
• Enter PE details for past period(s) and maintain IRR as 100% at PE maintenance
Case B: 0% Claimed
• Enter PE details for past period(s) and maintain IRR as 0% at PE maintenance
No need to edit
transactions
PE details include T, E, O1, O2, TX-RE, TX-ES
System will auto do annual
adjustment 35
Scenario 1 – Solution for PE
Current Period : 2017 May PE details for 2017 Jan – 2017 April are as belows:
T
(RM)
E
(RM)
Asset disposal as standard rate
(RM)
TX-ES
(RM)
TX-RE
(RM)
IT claimed Case A
IT claimed Case B
Jan 50,000 8,000 - 2,000 4,000 6,000 0
Feb 100,000 70,000 30,000 500 10,000 10,500 0
March 20,000 - - 1,000 7,500 8,500 0
April 90,000 80,000 5,000 7,000 12,000 19,000 0
Enter PE details for Past Period (2017 Jan – April) Current Period : Just choose the right tax code during entries
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Scenario 1 – PE (Example)
CASE A: IRR = 100%
CASE B: IRR = 0% PE Maintenance Key in details of Jan – Apr 2017
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Scenario 1 – PE (Example)
Details will be used for Annual
Adjustment
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Scenario 1 – PE (Example)
Maintain assets at Capital Goods Maintenancea
Manually maintain CGA details for first intervals in CGA schedule.
Case A: IRR = 100%
Cash B: IRR = 0%
Current year and subsequent years CGA will be auto completed by system.
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Scenario 1 – Solution for CGA
Purchased date: 19/3/2016 Asset value : RM150,000 Tax Amount : RM 9,000
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Scenario 1 – CGA (Example)
CASE A: IRR = 100%
CASE B: IRR = 0%
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Scenario 1 – CGA (Example)
• Previously using: - other software - spreadsheet - manual calculation to produce IRR, De Minimis, claimable amount, posting .... AND
• Now start using AutoCount Accounting to handle PE and CGA
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Scenario 2
• Enter PE details for past periods and maintain IRR (according to your calculation regardless of correctness) at PE maintenance
No need to enter all
transactions
PE details include T, E, O1, O2, TX-RE, TX-ES
System will auto do annual
adjustment
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Scenario 2 – Solution for PE
Current Month : 2017 May PE details for Jan – April 2017 are as belows:
T
(RM)
E
(RM)
Asset disposal as standard rate
(RM)
TX-ES
(RM)
TX-RE
(RM)
IRR
Jan 50,000 8,000 - 2,000 4,000 86.21%
Feb 100,000 70,000 30,000 500 10,000 50.00%
March 20,000 - - 1,000 7,500 100.00%
April 90,000 80,000 5,000 7,000 12,000 51.52%
Enter PE details for Past Period (2017 Jan – April) Current Period : Just choose the right tax codes during entries
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Scenario 2 – PE (Example)
Key in PE details and
IRR accordingly
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Scenario 2 – PE (Example)
Maintain assets at Capital Goods Maintenancea
Manually maintain CGA details for first intervals in CGA schedule..
IRR = ? %
Current year and subsequent years CGA will be auto completed by system.
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Scenario 2 – Solution for CGA
Purchased date: 19/3/2016 Asset value : RM150,000 Tax Amount : RM 9,000
IRR = 60%
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Scenario 2 – CGA (Example)
Maintain IRR = 60%
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Scenario 2 – CGA (Example)
Scenario 3: Input tax incurred before GST Registration
Scenario 4: Input tax incurred before first interval
Scenario 5: Input tax incurred after first interval (Parallel method)
Scenario 6: Disposal of assets
Scenario 7: Assets written off / lost
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5 More Special Cases for CGA
The asset is bought before I become GST registered person.
• Maintain market value of asset in capital goods maintenance
• Commence date : GST registration date
Scenario 3: Input tax incurred before GST Registration
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5 More Special Cases for CGA
Market value
300,000
GST Reg. Date
GST Reg. Date
GST 18,000
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Scenario 3: Input tax incurred before GST Registration
5 More Special Cases for CGA
• Maintain asset with its respective incurred date. • Commence date : Occupied date • System will auto-calculate its base percentage and do
adjustments
The input tax of an asset was incurred before the year it has been occupied/used/become mixed supplier.
Scenario 4: Input tax incurred before first interval
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5 More Special Cases for CGA
Input tax incurred 10/10/2016 (200,000 + 12,000) 20/1/2017 (500,000 + 30,000)
Occupied date 20/3/2017
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Scenario 4: Input tax incurred before first interval
5 More Special Cases for CGA
Additional/add-on assets is acquired after first interval.
• Maintain asset with its respective incurred date. • Commence date : first incurred date • System will use parallel method to calculate CGA amount.
Scenario 5: Input tax incurred after first interval (Parallel method)
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5 More Special Cases for CGA
Asset sub A Purchased 20/3/2017
Scenario 5: Input tax incurred after first interval (Parallel method)
Asset sub B Purchased 20/3/2018
First incurred
date
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5 More Special Cases for CGA
Scenario 5: Input tax incurred after first interval (Parallel method)
CGA 2018
Parallel method
CGA 2019
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5 More Special Cases for CGA
• Asset is disposed on: (different timing = different CGA treatment)
a) first interval; OR b) first day of any other interval; OR c) other day of any other interval
• Maintain disposal date in capital goods maintenance. • System will auto-calculate CGA amount for disposed asset. • Support Partial disposal
Scenario 6: Disposal of assets
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5 More Special Cases for CGA
Enter Disposal
Date 1/5/2018
Scenario 6: Disposal of assets
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5 More Special Cases for CGA
Disposed on 1/5/2018
Scenario 6: Disposal of assets
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5 More Special Cases for CGA
• Asset is written off/ lost on: (different timing = different CGA treatment)
a) first interval; OR b) first day of any other interval; OR c) other day of any other interval
• Maintain disposal date in capital goods maintenance AND check “is Lost”
• System will auto-calculate CGA amount for assets written off/lost
• Support partial lost
Scenario 7: Assets written off / lost
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5 More Special Cases for CGA
Enter Disposal Date.
Scenario 7: Assets written off / lost
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5 More Special Cases for CGA
Written off/ Lost 2019
Scenario 7: Assets written off / lost
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5 More Special Cases for CGA
For Partial Disposal / Lost
Enter date/amount
of Partial disposal/lost
Click on Disposal
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5 More Special Cases for CGA
Conclusion
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AutoCount PE & CGA
Periodically/Annually: - Observe De Minimis Rule - Compute IRR / AIRR - Compute input tax claimable - Perform period / annual adjustment - Generate Journal Entries - Posting to GST-03
Enter transaction with correct
taxcode
You just need to
And the system will
65
For PE
- Capture AIRR from PE calculation - Compute CGA - Generate Journal Entries - Posting to GST-03 For 5 / 10 years
Maintain Capital Items
And the system will
66
For CGA
You just need to
Thank You
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AutoCount PE & CGA
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