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GST Accounting software

How can MYOB help you meet your GST obligations?

With the introduction of GST, what are some of the obligations of a Taxable Business and how can MYOB help you meet them?

 

Account for GST on taxable supplies made and received MYOB keeps track of your Taxable Supplies from point of purchase, inventory to sales.
Submit GST return and pay tax by the due date MYOB generates a report that displays a list of transaction of Total Supplies, Total Taxable Purchases, Total Output Tax, Total Input Tax and Net GST within a prescribed GST period.

You can also generate the GST 03 text file that can be uploaded to the RMCD’s Taxpayer Access Point (TAP) Portal.

This makes it very easy for you to submit your returns at an interval appropriate for your business, monthly or quarterly
Issue tax invoice on any taxable supply made unless as allowed by the Director General MYOB provides predesigned tax invoice based on Customs requirements. You can customise your invoices to suit your company format.

Please take note that tax invoice must be provided within 21 days of the supply being made. MYOB will simplify this process with a click of a button.
Keep adequate records of business transactions relating to GST in the national or English language for seven (7) years. MYOB’s archival procedures are put in place to ensure the integrity and readability of electronic records after an extended period (maximum 7 years).

There is a restoration mechanism to restore the archived data, verify that restoration process is complete and generate necessary reports from the restored data. MYOB tracks
  • your business and accounting records
  • copies of serially printed receipts, tax invoices and simplified invoices
  • all credit and debit notes and much more

 

Did you know?

MYOB generates quotes that show GST inclusive amounts for both goods supplied and services rendered.

You can include GST registration in MYOB generated tax invoices, simplified tax invoices and receipts.

 



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