This is the place that to simulate the result for GST F5 Filing for desired taxable period.
The GST Simulation process consists total of 6 tabs for you to have an overview from top-to-down GST Summary and Details records.
To process it, checked the desired Taxable Period (Profile), then press [Refresh Data] button. System will automatic retrieved all of transactions for these taxable period correspondingly.
Tab 2: Outstanding Overview,
Here's the results to serve as a reminder or to bring up your attention to verify whether any transactions that could caused incorrect of GST figure to be submitted. Example, "Cash Sales Not Tally with Frontend", if there's any Outstanding Total encountered, then you should verified the POS's transactions being uploaded is correct.
Tab 3: GST-F5 Return Overview
The overview of GST F5 Return with simulated result, breakdown in Monthly presentation of figures for the selected Taxable Period.
GST F5 Return consists of total 13 fields to be submitted whenever perform GST filing.
Each field also described how the figure being computed with Tax Codes in transactions happened in each month.
Useful Tips:
You are able to drill-down by double click on the figure on cell, system will show you each individual transactions recorded that yield the total.
Eg: Double click on Item 01 for January on cell [4,477,519.31], will yield the details listing as below.
In this detail listing, you are also able to further drill-down by double-click on the any records to view/check the corresponding transaction.
Tab 4: Purchase and Supply Overview
GST Simulation process also present the Summary of Purchase and Supply, breakdown by Tax Codes (group by Purchase and Supply), then by Monthly summary with Taxable and Tax amount.
Useful Tips:
You are able to drill-down by double click on the figure on cell, system will show you each individual transactions recorded that yield the total.
Eg: Double click on TX for January on cell [1,399,037.13], will yield the details listing as below.
In this detail listing, you are also able to further drill-down by double-click on the any records to view/check the corresponding transaction.
Tab 5: Monthly Purchase and Supply Details
This present you the details transaction by breakdown into monthly (refer to bottom part tabs), and also GST F5 Return for the month, together with Purchase and Supply by Tax Code summary figure for the month.
Note: Please ensure the option "Load detail transactions" been checked before perform the simulation process by [Refresh Data] button.
Note: It could be take longer time if you have huge transactions
In this detail listing, you are also able to further drill-down by double-click on the any records to view/check the corresponding transaction.
Tab 6: GST-F5 Filing
The simulated result of GST-F5 for the chosen Taxable Period. Here's is the place for you to confirm whether to finalize GST-F5 Return. The process will auto fill-up corresponding fields that required whenever you filing at IRAS portal.
Useful Tips:
You are able to drill-down by double click on the figure on cell, system will show you each individual transactions recorded that yield the total.
Eg: Double click on cell [8,824,998.39] for (1) Total value of standard-rated supplies, system will yield the details listing as below.
Preview of GST-F5 Return Form based on simulation result.
Press the [Preview] button to generate the GST-F5 Return Form.
Confirmation of GST-F5 Return Result
Press [Save] button, you will have options on whether you like the save current simulation result as [Draft] or [Submission]
Save as Draft: The result would be saved for future reference next time, without need to wait for process time again for same taxable period.
Save as Submission: The GST-F5 result would be saved by prompting a confirmation.
It will also perform (optional) a journal entry to contra-off the Output and Input Tax for that taxable period.
System will also auto perform closing for this taxable period so that no transactions could be amend (that could caused submitted amount different).
Note: Confirmation of contra double entries would be prompt to off the balance of GST Input Tax and Output Tax account. Press Save to confirm it.
IRAS Audit File (IAF)
You can generate the audit file whenever being requested by IRAS officer for GST audit purpose.
To generate IAF, press 'Save As' button after choose the requested date range.
The process could be taken longer time as every single details needed to be provided. Please wait patiently.
The IAF would be a text file that being saved.
