Cognito has updated the Malaysia GST Form 03 report in MoneyWorks version 7.3. The new update includes a new Box 19 for the breakdown value of Output Tax in accordance with the Malaysia new Business Code. The Box 19 consists of three columns: MISC Code, Value of Output Tax, and the Percentage. The Box 19 uses the information from the "Category 4" field of the name profile to analysis the Sales transactions, which have an Output Tax, related to the name. Therefore, you have to

GST (Goods and Services Tax) applies when you supply goods and services locally, even if you invoiced the customer in foreign currency. Besides, for the foreign currency invoices, you are required to show the total amount payable excluding tax, the GST rate, GST amount, and the total amount including tax separately in Singapore Dollars equivalent. The Transaction.ExchangeRate field shows the exchange rate used of a posted Sales Invoice transaction. For unposted Sales Invoice

The MoneyWorks accounting software provides three user defined fields in the transaction window (User 1, User 2 and User 3 field), which allows user to customize the field label according to the business requirement. For example, you may want to use one of the Transaction User field as a "Permit Number" to record the import permit number in a Purchase Invoice or Payment, or you may consider using one of the Transaction User fields as "Ship Via" in both the Sales Invoice and P