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1
Partial Exemption & Capital Goods Adjustment
Account | Billing | Stock | POS | Payroll | Mobile
28 March 2017 Oasis Corporate Park, Selangor.
ISV/Software Solutions
![Page 2: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/2.jpg)
Presentation Slides (simplified version)
AutoCount PE & CGA
2
![Page 3: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/3.jpg)
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
3
Partial Exemption Module
![Page 4: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/4.jpg)
- 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
4
Capital Goods Adjustment Module
![Page 5: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/5.jpg)
Thank You
5
AutoCount PE & CGA
![Page 6: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/6.jpg)
Presentation Slides (extended version)
6
AutoCount PE & CGA
![Page 7: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/7.jpg)
Basic Setup
7
AutoCount PE & CGA
![Page 8: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/8.jpg)
2 Options: i) PE or ii) PE & CGA
8
Modules
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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
9
Tax Codes Activated
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Generated G/L account
10
Auto Configuration
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Partial Exemption Module
11
AutoCount PE & CGA
![Page 12: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/12.jpg)
Enter transactions
Compute De Minimis Rule,
IRR & input tax claimable
Posting to GST-03 and
Journal
Compute AIRR & annual/
longer adj amount
Posting to GST-03 and
Journal
Manual System
System
System System
Period Adjustment
System
Choose the correct tax code during transaction
12
PE Flow
![Page 13: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/13.jpg)
Summary of processed
PE by period
13
GST Processor – PE
![Page 14: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/14.jpg)
Double click to view details
14
GST Processor – PE
![Page 15: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/15.jpg)
Elements of O1 and O2
Double click to view
transaction details
15
GST Processor – PE
![Page 16: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/16.jpg)
Double click to view
calculation of De Minimis
Rule
16
GST Processor – PE
![Page 17: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/17.jpg)
Calculation of De Minimis Rule
Calculation to observe De
Minimis Rule
17
GST Processor – PE
![Page 18: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/18.jpg)
Double click to view calculation
of IRR, RE claimable/not
claimable
18
GST Processor – PE
![Page 19: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/19.jpg)
Calculation of IRR, RE
claimable and not claimable
19
GST Processor – PE
![Page 20: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/20.jpg)
Click to view Journal Entry
20
GST Processor – PE
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Journal Entry generated by system
21
GST Processor – PE
Click to view Journal Entry
(period adjustment)
![Page 22: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/22.jpg)
Summary of Longer period
adjustment
Auto-processed on
the 2nd taxable period
each year
22
GST Processor – PE
![Page 23: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/23.jpg)
Click to view Journal Entry
of longer period
adjustment
23
GST Processor – PE
![Page 24: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/24.jpg)
Double click to view
transactions
Double click to view
calculations
Double click to view
Journal Entry
User-maintained vs system generated
24
PE Maintenance
![Page 25: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/25.jpg)
Capital Goods Adjustment Module
25
AutoCount PE & CGA
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Maintain Capital Goods
Capture AIRR from PE
calculation
Compute CGA amounts
Posting to GST-03 and
Journal
Manual System System System
Maintain Capital Goods
26
CGA Flow
![Page 27: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/27.jpg)
May enter multiple
items
27
Capital Goods Maintenance
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Double click to view
calculation
28
GST Processor – CGA
![Page 29: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/29.jpg)
Calculation of IRR, Base %, CGA % and
amount
29
GST Processor – CGA
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Double click to view
journal entry
30
GST Processor – CGA
![Page 31: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/31.jpg)
Show all intervals
(5 or 10 years)
31
CGA Schedule
![Page 32: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/32.jpg)
Colour to indicate type
of record
32
CGA Schedule
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Special Scenarios
33
AutoCount PE & CGA
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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.
34
Scenario 1
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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
![Page 36: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/36.jpg)
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
36
Scenario 1 – PE (Example)
![Page 37: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/37.jpg)
CASE A: IRR = 100%
CASE B: IRR = 0% PE Maintenance Key in details of Jan – Apr 2017
37
Scenario 1 – PE (Example)
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Details will be used for Annual
Adjustment
38
Scenario 1 – PE (Example)
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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.
39
Scenario 1 – Solution for CGA
![Page 40: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/40.jpg)
Purchased date: 19/3/2016 Asset value : RM150,000 Tax Amount : RM 9,000
40
Scenario 1 – CGA (Example)
![Page 41: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/41.jpg)
CASE A: IRR = 100%
CASE B: IRR = 0%
41
Scenario 1 – CGA (Example)
![Page 42: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/42.jpg)
• 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
42
Scenario 2
![Page 43: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/43.jpg)
• 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
43
Scenario 2 – Solution for PE
![Page 44: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/44.jpg)
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
44
Scenario 2 – PE (Example)
![Page 45: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/45.jpg)
Key in PE details and
IRR accordingly
45
Scenario 2 – PE (Example)
![Page 46: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/46.jpg)
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.
46
Scenario 2 – Solution for CGA
![Page 47: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/47.jpg)
Purchased date: 19/3/2016 Asset value : RM150,000 Tax Amount : RM 9,000
IRR = 60%
47
Scenario 2 – CGA (Example)
![Page 48: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/48.jpg)
Maintain IRR = 60%
48
Scenario 2 – CGA (Example)
![Page 49: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/49.jpg)
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
49
5 More Special Cases for CGA
![Page 50: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/50.jpg)
The asset is bought before I become GST registered person.
• Maintain market value of asset in capital goods maintenance
• Commence date : GST registration date
Scenario 3: Input tax incurred before GST Registration
50
5 More Special Cases for CGA
![Page 51: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/51.jpg)
Market value
300,000
GST Reg. Date
GST Reg. Date
GST 18,000
51
Scenario 3: Input tax incurred before GST Registration
5 More Special Cases for CGA
![Page 52: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/52.jpg)
• 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.
Scenario 4: Input tax incurred before first interval
52
5 More Special Cases for CGA
![Page 53: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/53.jpg)
Input tax incurred 10/10/2016 (200,000 + 12,000) 20/1/2017 (500,000 + 30,000)
Occupied date 20/3/2017
53
Scenario 4: Input tax incurred before first interval
5 More Special Cases for CGA
![Page 54: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/54.jpg)
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.
Scenario 5: Input tax incurred after first interval (Parallel method)
54
5 More Special Cases for CGA
![Page 55: Partial Exemption & Capital Goods Adjustmentsupport.autocountsoft.com/wp-content/uploads/2017/03/Mix... · 2017. 3. 30. · Manual System System System System Period Adjustment System](https://reader036.vdocuments.site/reader036/viewer/2022081621/612557274e70ba495d6fd996/html5/thumbnails/55.jpg)
Asset sub A Purchased 20/3/2017
Scenario 5: Input tax incurred after first interval (Parallel method)
Asset sub B Purchased 20/3/2018
First incurred
date
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5 More Special Cases for CGA
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Scenario 5: Input tax incurred after first interval (Parallel method)
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
Scenario 6: Disposal of assets
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Enter Disposal
Date 1/5/2018
Scenario 6: Disposal of assets
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Disposed on 1/5/2018
Scenario 6: Disposal of assets
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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
Scenario 7: Assets written off / lost
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Enter Disposal Date.
Scenario 7: Assets written off / lost
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Written off/ Lost 2019
Scenario 7: Assets written off / lost
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For Partial Disposal / Lost
Enter date/amount
of Partial disposal/lost
Click on Disposal
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Conclusion
64
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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For PE
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- 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
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Thank You
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