How to Make a Payment for GST Return (New Vers.)

Every GST registrant is required to file GST return and make payment for every taxable period. This article shows you how can you capture this transaction in Biztory. 

Assumption: 

Taxable Period: 1/4/17 - 30/6/17 

Total Input Tax: RM1,000 

Total Output Tax: RM3,000 

Total Payable: RM2,000

1. Click on Purchases and select 'Expense Category'

2. Click on Add New

3. Create an Expense Category for GST Payment

4. Associated Account: GST Control (under Current Asset/Liability group)

5. Tax code: OP

6. Click on Save

7. Click on Purchases and select 'Expenses'

8. Click on Add New

9. Choose Kastam as the payee

10. choose the GST Payment as the category

11. Click on Save

12. Click on Accounting and select 'Journals'

13. Click on Add New

14. Enter GST Control as the Description

15. Pass a journal to knock off GST Input, GST Output, and GST Control accounts

16. Click on Save