Software Solution SOLUTIONS BY OMNI2UACCOUNT Issues on GST and SOLUTIONS BY OMNI2UACCOUNT

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    24-Dec-2015

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  • Slide 1
  • Software Solution SOLUTIONS BY OMNI2UACCOUNT Issues on GST and SOLUTIONS BY OMNI2UACCOUNT
  • Slide 2
  • Issues 1.Ensure software comply to RMCD guideline 2.Changes of RMCD GST Ruling 3.Data Entry a.Clerk difficult to remember tax code b.Entry of Purchase Invoice must be per item basis c.Too much data entry work d.Entry mistake 4.No GST charge among companies registered in the same group.
  • Slide 3
  • Ensure software comply to RMCD guideline To ensure all GST related calculation and account treatment comply to RMCD guideline This is to ensure that the software developer understand the guideline properly and implement into their system accordingly.
  • Slide 4
  • OMNI2UACCOUNT SOLUTION Advance Category OMNI2UACCOUNT has been approved in Advance Category compliance to RMCD's GST guideline approved software vendor OMNI2UACCOUNT is an approved software vendor for SME to claim software financial assistance from government of Malaysia. OMNI2U Point of Sales direct integrated OMNI2U Point of Sales comply to GST guideline and direct integrated to OMNI2UACCOUNT OMNI2U Inventory OMNI2U Inventory integrate with OMNI2UACCOUNT related with Purchases and Damage Stock
  • Slide 5
  • Issues 1.Approved Compliance to RMCD 2.Changes of RMCD GST Ruling 3.Data Entry a.Clerk difficult to remember tax code b.Entry of Purchase Invoice must be per item basis c.Too much data entry work d.Entry mistake 4.No GST charge among companies registered in the same group.
  • Slide 6
  • Changes of RMCD GST Ruling Royal Malaysian Customs Department GST ruling may not be final therefore from time to time software modification may be needed to comply with the changes.
  • Slide 7
  • OMNI2UACCOUNT SOLUTION CLOUD solution OMNI2U ACCOUNT is a CLOUD solution where upgrade is automatic once modification is done whereas other than cloud will need installation on each computer at client place. It is a time consuming activity.
  • Slide 8
  • Issues 1.Approved Compliance to RMCD 2.Changes of RMCD GST Ruling 3.Data Entry a.Data Entry staff difficult to remember tax code b.Entry of Purchase Invoice must be per item basis c.Too much data entry work d.Entry mistake 4.No GST charge among companies registered in the same group.
  • Slide 9
  • Data Entry Data entry person difficult to remember tax code 13 Tax Codepurchases 11 Tax Code sales There are 24 Tax Code to remember. 13 Tax Code for purchases transaction and 11 Tax Code for sales transaction.
  • Slide 10
  • OMNI2UACCOUNT SOLUTION 1.OMNI2UACCOUNT avoid mistake in selection Sales Tax Code in Sales entry. OMNI2UACCOUNT display 11 Tax Code for Sales only when making sales entry 2.OMNI2UACCOUNT avoid mistake in selection Purchase Tax Code in Purchase entry. OMNI2UACCOUNT display 13 Tax Code for Purchase only when making purchase entry. 3.Avoid Tax Code Confusion through a.Product Tag with Tax Code b.Sales Remark c.Purchase Remark
  • Slide 11
  • 11 GST Tax Code for Supply
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  • OMNI2UACCOUNT SOLUTION 1.OMNI2UACCOUNT avoid mistake in selection Sales Tax Code in Sales entry. OMNI2UACCOUNT display 11 Tax Code for Sales only when making sales entry 2.OMNI2UACCOUNT avoid mistake in selection Purchase Tax Code in Purchase entry. OMNI2UACCOUNT display 13 Tax Code for Purchase only when making Purchase entry. 3.Avoid Tax Code Confusion through a.Product Tag with Tax Code b.Sales Remark c.Purchase Remark
  • Slide 14
  • 13 GST Tax Code for Purchase
  • Slide 15
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  • OMNI2UACCOUNT SOLUTION 1.OMNI2UACCOUNT avoid mistake in selection Sales Tax Code in Purchase entry. OMNI2UACCOUNT display 13 Tax Code for Purchase only when making purchase entry 2.OMNI2UACCOUNT avoid mistake in selection Purchase Tax Code in Sales entry. OMNI2UACCOUNT display 11 Tax Code for Sales only when making sales entry. 3.Avoid Tax Code Confusion through a.Product Tag with Tax Code b.Sales Remark c.Purchase Remark
  • Slide 17
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  • OMNI2UACCOUNT SOLUTION 1.OMNI2UACCOUNT avoid mistake in selection Sales Tax Code in Purchase entry. OMNI2UACCOUNT display 13 Tax Code for Purchase only when making purchase entry 2.OMNI2UACCOUNT avoid mistake in selection Purchase Tax Code in Sales entry. OMNI2UACCOUNT display 11 Tax Code for Sales only when making sales entry. 3.Avoid Tax Code Confusion through a.Product Tag with Tax Code b.Sales Remark c.Purchase Remark
  • Slide 19
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  • Slide 21
  • OMNI2UACCOUNT SOLUTION 1.OMNI2UACCOUNT avoid mistake in selection Sales Tax Code in Purchase entry. OMNI2UACCOUNT display 13 Tax Code for Purchase only when making purchase entry 2.OMNI2UACCOUNT avoid mistake in selection Purchase Tax Code in Sales entry. OMNI2UACCOUNT display 11 Tax Code for Sales only when making sales entry. 3.Avoid Tax Code Confusion through a.Product Tag with Tax Code b.Sales Remark c.Purchase Remark
  • Slide 22
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  • Slide 24
  • Issues 1.Ensure software comply to RMCD guideline 2.Changes of RMCD GST Ruling 3.Data Entry a.Clerk difficult to remember tax code b.Entry of Purchase Invoice must be per item basis c.Too much data entry work d.Entry mistake 4.No GST charge among companies registered in the same group.
  • Slide 25
  • Entry of Purchase Invoice must be per item basis This is due to different product may be different type of supply and different tax code. Generally there are 4 type of supply: Taxable supply Standard and Zero rated Non Taxable Supply Exempt and Out of scope
  • Slide 26
  • OMNI2UACCOUNT SOLUTION OMNI2UACCOUNT allow entry of tax code per product basis. Each product is tag with its related tax code. Other than product can be tag with tax code using remark. This will avoid data entry mistake.
  • Slide 27
  • Slide 28
  • Issues 1.Ensure software comply to RMCD guideline 2.Changes of RMCD GST Ruling 3.Data Entry a.Clerk difficult to remember tax code b.Entry of Purchase Invoice must be per item basis c.Too much data entry work d.Entry mistake 4.No GST charge among companies registered in the same group.
  • Slide 29
  • Too much data entry work Purchase Invoice in order to claim, invoice from supplier need to be recorded in the system so that it will automatically calculated and generate GST03. Sales Invoice To enter the product or service to sell and entering the correct tax code is too many and can easily cause human error.
  • Slide 30
  • OMNI2UACCOUNT SOLUTION OMNI2UACCOUNT provide many ways to avoid or reduce repetition of data entry. Product Tag with price and tax code Sales Remark tag with tax code Purchase Remark tag with Tax code. User just need to select the related item and all the related information will be retrieved and fill the necessary information in the correct field.
  • Slide 31
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  • Slide 33
  • Issues 1.Ensure software comply to RMCD guideline 2.Changes of RMCD GST Ruling 3.Data Entry a.Clerk difficult to remember tax code b.Entry of Purchase Invoice must be per item basis c.Too much data entry work d.Entry mistake 4.No GST charge among companies registered in the same group.
  • Slide 34
  • No GST charge among companies registered in the same group Companies can register their company in the same group that will allow transaction between the companies without GST.
  • Slide 35
  • OMNI2UACCOUNT SOLUTION OMNI2UACCOUNT will handle automatically the transaction between the companies without GST. User need to configure the companies as in the same group.
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  • Issues .. continue 5.Business between consignor and consignee 6.Consolidated View for management 7.GST03 Submission 8.Mix Supply handling 9.Complication in Progresive Invoicing and Payment with retainer fee 10.Transaction related to scheme
  • Slide 38
  • OMNI2UACCOUNT SOLUTION OMNI2UACCOUNT can handle consignor and consignee business transaction. Delivery Order is issued, 21 days rule doesnt apply. Product in consignee place more than one year will be consider sold.
  • Slide 39
  • Issues .. continue 5.Business between consignor and consignee 6.Consolidated View for management 7.GST03 Submission 8.Mix Supply handling 9.Complication in Progresive Invoicing and Payment with retainer fee 10.Transaction related to scheme
  • Slide 40
  • Consolidated View for management HQ normally need to monitor their subsidiaries performance.
  • Slide 41
  • OMNI2UACCOUNT SOLUTION OMNI2UACCOUNT can consolidate information from all the subsidiaries and provide summary or details report from HQ. The same monitoring can be done for group monitoring such as Monitoring of Entrepreneur and Cooperative. Also monitoring of companies account by Auditor or Accountant to ensure correct entry and submission of GST03 and GAF.
  • Slide 42
  • Issues .. continue 5.Business between consignor and consignee 6.Group management 7.GST03 Submission 8.Mix Supply handling 9.Complication in Progresive Invoicing and Payment with retainer fee 10.Transaction related to scheme
  • Slide 43