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Sage 50 - Changing of taxable period from 3 months to 1 month due to total annual sales increased to more than RM 5 Million
Author: Wan Hua Ng Reference Number: AA-08040 Views: 860 Created: 2016-03-28 10:16 Last Updated: 2016-04-05 09:37 0 Rating/ Voters

Scenario:

Taxable period for your company is 3 months initially. After completed 1 GST submission, the taxable period needs to be changed from 3 months to 1 month due to total annual sales increased to more than RM 5 Million.


Initial setup




Steps:

In this example, the first taxable period was 01/04/2015 to 30/06/2015. From second taxable period onward (starting 01/07/2015), the taxable period is changed to 1 month.

Thus, you need to set the new GST effective date as 01/07/2015, GST Next Filing date as 01/08/2015.


1. Click on Taxable Period button. In the Taxable Period screen, click on Regenerate button, set the Effective date as 01/07/2015, GST Taxable Period/Category as 1 Month, then click on OK.

 

2. The taxable period has been regenerated.




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