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Account Posting for Tax Payment Or Refund
Author: Bruno Reference Number: AA-08072 Views: 66 Created: 2018-03-20 09:34 Last Updated: 2018-04-16 12:13 0 Rating/ Voters

ACCOUNT POSTING FOR TAX PAYMENT/REFUND

Example: Assume that the company want to pay the RM4321.87 Tax and the tax period is 12/2017

Step 1: Go to Accountants Areaà Taxà Tax Returns and ReportsàAmount to be paid as per GST Report.

Step 2: Go to Bankingà Transactionà Select Bank

              a. Select appropriate Date, Payee, and Description.

b. For Tax Payment/Refund, Select Type: Tax (system will automatically map to the    transaction posting to the account).

c. In the Selection field, select which period to pay/refund. (eg:12/2017)

d. To pay the Tax, insert amount in the Spent columnà Save

Step 3: Go to Accounts à Reports à Accounts Transactionsà Tax Payable

            a. System will Credit MBB, Debit Tax Payable

Step 4: Go to Accountants Areaà Taxà Tax Returns and Reports

            a. The payment will automatically linked to this page as shown below:



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ACCOUNT POSTING FOR TAX PAYMENT OR REFUND.pdf 0.3 Mb Download File
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