MYOB tax code list as per Royal Malaysian Customs

MYOB Malaysia has already prepared and included in MYOB software all the Tax Code as per Royal Malaysian Customs (Jabatan Kastam Diraja Malaysia). As of 3rd December 2014, the whole tax code list in MYOB Malaysia is reproduced below:.

If Custom changes anything, MYOB will update the list for you if you are subscribed for their year support. Otherwise, subscribe to update from Royal Malaysian Custom for GST and if there are changes, you can edit the list yourself.

	Code	Description	Tax Type	Rate
1	AJP	Adjustment to Input Tax	GST	6%
2	AJS	Adjustment to Output Tax	GST	6%
3	BL	Purchases (GST not claimable)	GST	6%
4	DS	Deemed Supplies	GST	6%
5	E43	Incidental exempt supp (TX-E43)	GST	6%
6	EP	Purchases exempted from GST	GST	0%
7	ES	Except Supplies under GST	GST	0%
8	ESI	Incidental exempt supp (ES43)	GST	0%
9	ESN	Non-inc exempt (ESN43)	GST	0%
10	GP	Disregarded Purchases	GST	0%
11	GS	Disregarded Supplies under GST	GST	0%
12	IM	GST for import of goods	GST	6%
13	IMO	GST for import of goods at 0%	GST	0%
14	IS	Import under special scheme	GST	0%
15	IS6	Import under special scheme at	GST	6%
16	N-T	Non Taxable	Sales Tax	0%
17	N43	Non-inc exempt supp (TX-N43)	GST	6%
18	NR	Non GST registered supplier	GST	0%
19	OP	Purchase (Out of Scope)	GST	0%
20	OS	Supplies (Out of Scope)	GST	0%
21	RE	Taxable or Except supplies	GST	6%
22	RS	Relief Supplies under GST	GST	0%
23	SR	Standard-rated supplies (GST 6%)	GST	6%
24	T	Taxable	Sales Tax	5%
25	TX	Purchases with GST at 6%	GST	6%
26	ZP	Purchases with no GST incurred	GST	0%
27	ZER	Export zero rated supplies	GST	0%
28	ZRL	Zero rated supplies	GST	0%

Generate Tax Summary Accrual Report

Occasionally you may want to view a report of the tax collected etc. To get the report, open MYOB to get to the Command Center. At the bottom, click the down arrow at REPORTS, select GST Tax, Sales Under Tax Report, Select TAX (SUMMARY - ACCRUAL) Click DISPLAY and the Tax report is displayed.

MYOB to open Tax Summary Accrual Report

MYOB Tax Summary Accrual Report

How to generate GAF (GST Audit File) Report

Businesses registered for GST may be required by JKDM (Jabatan Kastam Diraja Malaysia) to produce the GAF (GST Audit File) report at anytime to verify compliance with their requirements. Using an accounting/tax software like MYOB will help greatly with this onerous requirement and will greatly save you time and hassles. To generate the GAF report, open MYOB to get to the Command Center > Accounting module > click GENERATE GAF

MYOB How to Generate GAF

On clicking GENERATE GAF, a new popup will appear requiring you to enter the period for the report (from what date to what date). On completing the dates entries, you will then need to click the DISK tab at the bottom left corner:

Enter dates for generating GAF report

On clicking DISK, you will then be able to save the GAF report in your computer. However, note that this file will be saved in a format which you will be unable to view. The GAF file need to be sent to the tax authority (in Malaysia case, it will be the Malaysian Custom or Jabatan Kastam Diraja Malaysia) and only them will be able to decode it to read and check.

How to delete MYOB tax code

You may have superfluous tax codes in your MYOB Tax Code List and may want to delete it from the list. Here is how to do it: Step 1: First open the Tax Code List. At the top horizontal menu, select List from the pull down menu and then select Tax Codes. The Tax Code List will open. Step 2: Click the arrow to the left of the tax code you want to delete, then click EDIT at the top horizontal menu, then select DELETE Note that sometimes a tax code cannot be deleted in which case you get a popup message saying: "This tax code may not be deleted because it is being used on sales, purchases, banking or journal transactions."

To open tax code list

MYOB Open tax codes list

To delete tax code

MYOB delete tax code

Cannot delete tax code message

MYOB cannot delete tax code message

MYOB Recording Sales & Recap Transaction (Double Entry)

We will now discuss recording sales and familiarization with what happens after you have recorded a sales. Booking requires that there should always be double entry. We can RECAP TRANSACTION to see where all the entries go to.

Recording sales

Open MYOB > Command Center > Sales tab (module) > Enter Sales Then the Sales New Service window will pop and you can click the drop down arrow to select from a list of customers.

MYOB Enter Sales window, select customer

Alternatively if it is a new customer, click the NEW tab at the bottom . Note that after you have type in the name of the new customer, there is no fields to type in other details like Address, Phone, eMail etc. In order to be able to type in these details, you need to click the TAB key on your keyboard. After you click TAB key, then only will the Account number become active. If it is an existing customer, its Account number would already have been entered. Click the other fields like Amount etc to type in the details. When finish, click RECORD.

Recap transaction (double entry)

Double entry is basic to book keeping and accounting, so for every entry you make, there is always other entry/entries to balance out the new entry. So after you have entered a new transaction, you should get the RECAP TRANSACTION to see where these other entry/entries go. To do that, go to the Command Center: Command Center > Sales > Sales Register > click the arrow to the left of the transaction you want to RECAP TRANSACTION to edit > click EDIT at the top horizontal menu bar > select RECAP TRANSACTION (see screenshot below):

MYOB Recap Transaction to view Double Entries

After clicking RECAP TRANSACTION, a Recap Transaction will pop where you will see all the double entries. From screenshot below, you can see that some has gone to Trade Debtors, Sales Revenue and GST Collected and that total DEBIT equal total CREDIT (see screenshot below):

MYOB Recap Transaction to view double entries

MYOB: How to Edit Company Information

When you first setup a Company File, only field is compulsory - the company registration number. Perhaps you did not fill in the other fields company name, address, contact details, etc.

Note that most of those details are linked, for example the fields in the sales invoice template. Now what if we want to input the missing details?

Open MYOB and your company file, then in the top horizontal menu bar, click SETUP > Company Information

and the Company Information Window will open:

MYOB Company Information Window

And there you can add/edit the following:

Company Name:
Address:
Phone number:
Fax number:
Email address:
IRD (Inland Revenue Department) No.:
Service Tax No.:
BR (Business Registration) No.:
GST/Sales Tax No.:
GST Registration Date:
GST Deregistration Date:

TAB key: MYOB Magic Key

With many instances with MYOB where you need to key in the details for various items, after keying in the detail for 1 field, you may noticed that the fields for other items are grayed out and don't allow you to click in it in order to type in the details. Here is where MYOB Magic Key comes in:

MYOB Magic Key, the TAB key

 To get to the next field to enter details, click the TAB key and the next field together with other fields which previously were grayed out now opens for you to type in the details.

Take for example, when we want to add a new account code, say, under OTHER LIABILITIES, the account code 2-2380 Bad Debt Recovered, after typing 2380, note in the screenshot below that other fields are grayed out and not open to entering new details.

MYOB Adding new account code, fields grayed out

Now click the magic TAB key, the cursor moves to the next field ready for you to enter Account Name:

MYOB adding new account code after click TAB fields open to enter details