Introduction
1. Double entry adjustment for the balance of GST Sales / Purchase Deferred Tax (Bad Debt Relief) AFTER 29 December 2018.
2. Add the adjustment amount into Final GST Return (amendment).
How to check the Sales/Purchase Bad Debt Recovered amount after Final GST Returns?
Menu: SST/GST | New GST Return…
1. Select a date AFTER the Final GST Return Date, eg. 28/02/2019.
2. Choose Process As Draft
3. Click on GST Return Draft and print GST Listing.
4. Filter the Tax Date (ie. greater than or equal to 30 December 2018).
SL-AJS-BD : Sales Bad Debt Recovered (Output Tax). PH-AJP-BD : Purchase Bad Debt Recovered (Input Tax).
Adjustment for GST Sales Deferred Tax (SL-AJS-BD)
Menu: GL | Journal Entry…
1. Based on the GST Listing (Draft), post the GST Bad Debt Recovered double entry using Journal Entry.
| GL Code | GL Description | Local DR | Local CR | Add to Final GST-03 |
|---|---|---|---|---|
| GST-202 | GST – Sales Deferred Tax | 3,600 | ||
| GST-KASTAM | GST – Payable (KASTAM) | 3,600 | 5(b), 18 |
2. Amend the Final GST Return (Aug 2018) at TAP.
3. Add the amount into
a. 5(b)
b. 18
Adjustment for GST Purchase Deferred Tax (PH-AJP-BD)
Menu: GL | Journal Entry...
1. Based on the GST Listing (Draft), post the GST Bad Debt Recovered double entry using Journal Entry.
| GL Code | GL Description | Local DR | Local CR | Add to Final GST-03 |
|---|---|---|---|---|
| GST-KASTAM | GST – Payable (KASTAM) | 600 | 6(b) | |
| GST-102 | GST – Purchase Deferred Tax | 600 |
2. Amend the Final GST Return (Aug 2018) at TAP.
3. Add the amount into
a. 6(b)
Payment to RMCD
Menu: GL | Cash Book Entry…
Made payment to RMCD, use Cash Book Entry (PV).
| GL Code | GL Description | Local DR | Local CR |
|---|---|---|---|
| GST-KASTAM | GST – Payable (KASTAM) – Nett Balance | 3,000 | |
| BANK | Bank Name | 3,000 |