Thank you for your participation for the training held on April 14, 2016.
The following is the question and answer summary for the training on April 14, 2016 (Kota Kinabalu).
- Lookup for GST Status - Legal name and trading name. The former is legal registration entity name while the latter is brand name.
- Accounting entries using purchase clearing accounts to record K1 value. Example is given in the attached PDF file.
- Bad debt written off after claiming bad debt relief. It will reverse from the GST Refund for Bad Debt account
- Bad debt written off without claiming bad debt relief. It will treat as GST expense that is not a tax deductible item. It becomes output tax borne by the business.
Please download the attachment to understand the facts to support the answers.