How to Record GST on Electricity Bill as an Expense (New Vers.)

The electricity bill is a common utility expense for most businesses, but recording it for GST purposes can be challenging due to the mix of exempt and standard-rated GST charges.

Let's look at the example below:

To summarize it:

Non-GST Taxable amount: RM72.44

GST Taxable amount: RM32.05

KWTBB: RM1.76

GST payable: RM1.92

Total payable: RM108.17

So let's see how can we capture this into Biztory app.

Pre-requisite

1. Click on Expense Category

2. Click on Add New

3. Create an Expense category for Electricity (Non GST)

4. Associate it with the Water & Electricity account

5. Tax code is ZP

6. Click on Save

7. Create an Expense category for KWTBB

8. Associate it with the Water & Electricity account

9. Tax code is OP

10. Click on Save

Get Started

11. Click on Expenses

12. Click on Add New

13. Click on Add Supplier

14. Enter the supplier info

15. Enable 'This supplier is GST Registered'

16. Click on Confirm

17. Electricity (Non GST) = RM72.44

18. Electricity = RM32.05

19. KWTBB = RM1.76

20. Click on Save