Professional Documents
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GST
PREPARATION
GUIDE
(For Existing MYOB Accounting
and MYOB Premier Users).
Table of Contents
Part 1
Part 2
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M Y O B G S T P R E PA R AT I O N G U I D E L I N E
Part 1
Importing GST Tax Codes into your data file (only applicable to Accounting
v19 and Premier v13 and BELOW)
Note: If you are on Accounting v20/Premier v15, SKIP this step, and start at step 7.
To import in your GST tax codes please follow instructions below:
1. Back up existing company file.
2. Use your current file to continue with the steps given below
3. Create new account code list for Link account for GST tax codes and Bad debt relief
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Detail Account
2-2310 Output Tax
2-2330 Input Tax
2-2370 Bad Debt Relief
2-2380 Bad Debts Recovered
2-2390 Bad Debt Suspense
6-6000 GST Not Claimable
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5. Export the GST tax codes from the Clearwater sample file
Click File on your menu bar> Export Data > Tax Code List >Non Consolidated
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Click Continue
M Y O B G S T P R E PA R AT I O N G U I D E L I N E
Click Continue
In the next screen (as per below), select the NONCONTAXCODE.TXT that you saved (in step 5) in your
Desktop, and click Open button
M Y O B G S T P R E PA R AT I O N G U I D E L I N E
In the next screen, click Match All > Import > Press OK once completed
Once the GST tax code is imported, click List on the menu bar and choose Tax Code
These next steps is applicable to all customers on Accounting 20 and Premier 15 and BELOW.
M Y O B G S T P R E PA R AT I O N G U I D E L I N E
Note: GST Account for Bad Debts and Tourist GST Refund is for future expansion thus user can leave it blank.
M Y O B G S T P R E PA R AT I O N G U I D E L I N E
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Note: If you are using inventory module, all inventoried items have to be assigned to GST Tax code under
Buying Detail and Selling Detail, if you do not want to overwrite it with other tax code. If you want to assign
a different Tax Code from your inventory then in the Customer Card selling detail screen, tick Use Customer
Tax Code. This would supersede Tax Code set in inventory.
12. Set up Supplier card file with GST information as following:
Go to Card file > Card List >Supplier > Double click on the Suppliers name > Buying Details
If you are recording Purchases using Services format of Bill, please assign the GST tax code to every
supplier.
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14. Set up Inventory Item for purchases (buying details), assign the Inventory Item to the related GST Tax Code
Go to Inventory > Item List > Double click on the Item Number > Buying Details
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b.
c.
d.
Item Invoice
a.
b.
MYOB Premiers Plain Paper Invoice Item format Tax Invoice with a summary total of Zero rated, Standard
rated and others.(if you do sell mix supply)
c.
d.
e.
3.
Revert back to your Accounting20/Premier 15 program folder. Click on your Forms Folder and Copy all the
necessary existing company designed forms into your Accounting21/Premier 16 forms folder. Please use
these forms until March 31st 2015.
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Part 2
4. If your transaction involves the use of foreign currency, enter data with different currencies.
5. View / print Tax Invoice in foreign currency - new format forms based on government requirement. A new
column is added to show your local equivalent on this invoice.
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Monthly and quarterly reporting to RMCD should be submitted before the last day of the following month.
GST-3 Detail Report can help you to view a listing of transaction with their respective tax code.
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Custom will inform the period for the audit. Key in the date From and To to save click Disk then save this file
to your Custom report folder.
Note: Once you are familiar with the entire GST process as above, its time to ensure that you have all the
Forms such as Invoice, Credit Note and Debit Note customize with your company logo or with the same
design as you have now.
Please ensure you are on Business Support to get the right GST Transition directions from us in the coming
months of 2015. We will make sure you get the relevant updates.
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