How to record transaction June 2018 for deposits
For deposits received prior to 1st June and invoice issued after 1st June
Scenario 1:
| No | Date | Events | Amount | GST % | GST Amount |
|---|---|---|---|---|---|
| 1 | April 2018 | Sales Order Created | RM 1,000 | 6% | RM 60 |
| 2 | April 2018 | Deposit | RM 100 | 6% | RM 5.66 |
| 3 | May 2018 | Invoice created | RM 1,000 | 6% | RM 60 |
| 4 | May 2018 | Balance Payment Received | RM 800 | 6% | RM 48.68 |
Notes:
- Deposit received and being use to contra INV on May 2018
- RCT to be created with 6% tax code on May 2018 for the balance payment
Scenario 2:
| No | Date | Event | Amount | GST | GST Amount |
|---|---|---|---|---|---|
| 1 | April 2018 | Sales Order Created | RM 1,000 | 6% | RM 60 |
| 2 | April 2018 | Deposit Received | RM 100 | 6% | RM 5.66 |
| 3 | July 2018 | Invoice created | RM 1,000 | 0% | |
| 4 | July 2018 | Balance Payment Received | RM 800 | 0% |
Notes:
- Deposit used to contra INV on July 2018 with amount RM 5.66
- RCT to be created with 0% tax code on July 2018 for the balance payment
- Do the filling on July 2018 revision → 5a = (94.34) & 5b = RM (5.66)
- RM 5.66 is claimable amount
Scenario 3:
| No | Date | Event | Amount | GST | GST Amount |
|---|---|---|---|---|---|
| 1 | May 2018 | Sales Order Created | RM 1,000 | 6% | RM 60 |
| 2 | May 2018 | Full Payment Received | RM 1,000 | 6% | RM 60 |
| 3 | July 2018 | Sales Order converted to Invoice | RM 1,000 | 6% | RM 60 |
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