partial exemption & capital goods...

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


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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Elements of O1 and O2

Double click to view

transaction details

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calculation of De Minimis

Rule

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Calculation of De Minimis Rule

Calculation to observe De

Minimis Rule

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Double click to view calculation

of IRR, RE claimable/not

claimable

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Calculation of IRR, RE

claimable and not claimable

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Click to view Journal Entry

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Journal Entry generated by system

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(period adjustment)

Summary of Longer period

adjustment

Auto-processed on

the 2nd taxable period

each year

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of longer period

adjustment

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transactions


calculations


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


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


calculation

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GST Processor – CGA

Calculation of IRR, Base %, CGA % and

amount

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journal entry

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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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Details will be used for Annual

Adjustment

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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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• 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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Key in PE details and

IRR accordingly

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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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Maintain IRR = 60%

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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


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Market value

300,000

GST Reg. Date

GST Reg. Date

GST 18,000

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• 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.


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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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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.


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Asset sub A Purchased 20/3/2017


Asset sub B Purchased 20/3/2018

First incurred

date

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CGA 2018

Parallel method

CGA 2019

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• 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


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Enter Disposal

Date 1/5/2018


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Disposed on 1/5/2018


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• 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


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Enter Disposal Date.


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Written off/ Lost 2019


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For Partial Disposal / Lost

Enter date/amount

of Partial disposal/lost

Click on Disposal

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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

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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

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For CGA

You just need to

Thank You

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AutoCount PE & CGA

partial exemption & capital goods...

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