MYOB GST new features Training

Get ready for GST Malaysia.  Malaysian GST model is quite ‘unique’.   What are the ‘unique’ GST features in the Malaysian GST context?  How does MYOB Accounting software handle the ‘unique’ situations?

Attend our hands-on training course to find out in detailed about  GST features in MYOB Accounting software  and how these features help ensure a smooth GST implementation.

Introduction

MYOB Malaysia has released its Malaysian edition of accounting software GST version since May 2014.     MYOB Accounting v20 and MYOB Premier v15 released in 2014 is approved by Royal Malaysian Customs Department (“RMCD”).

The new version incorporates the features as required by the Royal Malaysian Customs Department (“RMCD”).

The following sentence spells out the Malaysian Customs approval :

Perisian Perakaunan bersubsidi diluluskan oleh Kerajaan Malaysia. No Rujukan Kelulusan JKDM KE. HF (121)  426/05-29

 

Click to view the GST Certification by Customs Malaysia issued for MYOB Accounting v20 and MYOB Premier v15

If you are an existing user of MYOB Accounting software, you should attend our 1 day GST training course to learn about the new GST features in MYOB software,  and how to account for GST in your business using MYOB accounting software.

Our MYOB GST training course is specially designed for existing MYOB users to equip you with sufficient knowledge to implement GST in your Malaysian business operations. .

At the end of this GST training course, participants will acquire and understand the key elements of Malaysian GST legislation and how MYOB software does its part to help you meet the GST reporting and submission requirements come April 2015 and thereafter.

MYOB Accounting software simplifies the GST computation.  The accounting software will compute automatically the output tax and input tax.  All you have to do is to record the transaction as they occur.

MYOB GST Training Course objectives

Participants will be introduced to Customs Recommended Tax Codes and how to apply those tax codes when recording transactions in MYOB Accounting software.  Participants will also  learn how to generate the GST 03 forms for submission purposes, and also how to generate the GAF files for audit purposes.

Learning Outcomes

• Overview of the GST model
• How GST work in Malaysia
• New GST features in MYOB
• Treatment of Bad Debt Relief in MYOB
• Treatment of GST on imports
• Treatment of Deemed Supplies
• Generate GST 03 forms in MYOB
• Generate GAF files

Course outline

Part 1 : GST the big picture

• Overview of the GST model
• How GST work in Malaysia
• Scope of GST
• Types of supply
• GST input Tax and GST Output tax
• Proper Invoice format
• 21 day rule
• Blocked Input tax
• GST on import
• GST treatment on advance payment received
• Adjustments on GST
• Bad Debt Relief Adjustment
• Taxable period
• Payment of GST
• GST 03 return form
• Customs requirement in GST accounting software
• Customs recommended Tax Codes

Part 2 – Handling GST transactions in MYOB

• GST setup in MYOB
• Create new account code to track GST
• Link the Account codes to the Tax Codes
• Setup Customer card with GST information
• Setup Supplier card with GST information
• Setup Inventory Items with the GST tax information
• Enter sales transactions using 7 GST codes (SR, ZRL, ZRE, DS, OS, GS, RS)
• Enter purchases transaction using 8 GST codes (TX, NR, ZP,  IM, OP, BL, IS, GP)
• Enter general payment transactions using GST codes
• Accounting for Bad Debt Relief using 2 tax Codes (AJP, AJS)
• Brief explanation of  7 Exempt Supply codes (EP, ES, TX-E43, TX-N43, TX-RE, ES43, ESN43)
• View the Accounting Journal entries for different type of supply
• View GST 03 forms in MYOB
• Review and reconcile GST transactions before submission
• How to record Payment of GST in MYOB
• Generate GAF files

Delivery method

• Language : English
• PowerPoint presentation (for Part 1)
• Computer Hands on session (for Part 2)
• Presentation handouts (for part 2)
• Case study

Course Fee :

Rm 650 per person.  Book early to avoid disappointment.

Register for Training       View Training Schedule      Contact us

Download  MYOB GST new features course outline