With a GST Compliant Accounting Software, yur company will be able to submit the GST form on time and with less human errors.This software can produce a accurate GST Form facilitating all required informations on the total amount payable or claimable from your local authorities. Timely submission and payments will protect you from unnecessary penalties or even excessive fine.
A GST Compliant Accounting Software is accomadated with the following features:
1. GST submission period
As per the law of Malaysia, each compnay is required to submit thier GST Forms quarterly or monthly depending on the sales revenue of the company. A GST compliant Accounting Software allows you to maintain your submission periods for each company, be it quarterly or monthly.
2. List of Tax Codes
There are different tax codes used for different types of supply and purchases. These tax codes and tax rates may change regularly overtime. To ensure a reliable submision of GST Forms, this software provides you with the updated tax codes and also allows you to make changes when necessary.
3. Setting Default Tax Codes
A GST compliant Accounting Software will allow you to prefix default tax codes on your frequently used Chart of Accounts, debtor/creditors and product codes. This can enusre human errors are reduced.
4. Tax Invoice
With a GST Compliant Accounting Software, you will be able to print tax invoices that clearly states the sales and tax amount. For some industries where there are mix supplies involved, your tax invoice will be able to show you the breakdown or summary of the taxable or non-taxable supplies.
5. GST Reports
You will also be able to print those GST Reports which can help you keep track of all transaction details.Before your submission, you will be able to print out reports of transactions involving GST.
With the above basic features, you will be able to submit your GST obligations with ease. With a GST compliant Accounting Software, you will be able to save precious time and help your businesses avoid costly mistakes compared to when you are preparing it manually.
