Electricity bill is one of the common utility expense that can be seen in most of the business, and yet it is one of the pain when come to GST book-keeping due to the exempted and standard rate GST charges.
Let's look at the example below:
To summarize it:
Non-GST Taxable amount: RM72.44
GST Taxable amount: RM32.05
KWTBB: RM1.76
GST payable: RM1.92
Total payable: RM108.17
So let's see how can we capture this into Biztory app.
Pre-requisite:
1. Create an Expense category for Electricity (Non GST), tax code is ZP, associate it to Water & Electricity account
2. Create an Expense category for KWTBB, tax code is OP, associate it to Water & Electricity account
Get Started
Create a new Expense, and key-in the amount according to the following:
1. Electricity (Non GST) = RM72.44
2. Electricity = RM32.05
3. KWTBB = RM1.76
You should get the following result:
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