When dealing with the non-Singapore dollar (SGD) home currency in an accounting system, the GST submission to the IRAS has to be SGD.

Singapore's GST rate is to increase from 8 to 9% from 1 Jan 2024. Update the MoneyWorks accounting software to reflect the new rate to...

MoneyWorks 9.1.1 release incorporated the new requirement for GST reporting

Submit GST Form 5 to IRAS from the MoneyWorks accounting system digitally.

Update your MoneyWorks version 9 to the latest 9.0.9r2 before printing your GST Form 5 guide!

The GST code used in the MoneyWorks transaction follows the GST code set in the account used.

The standard rated GST set in MoneyWorks is 7%, pre-loaded when you first created the company file with localisation setup as Singapore

Now, you can have an option to set the GST rounding to follow the Banker's rounding method or round up to the nearest half cents.

The Customs (or the forwarder may pay on your half) will impose the GST on the imported goods when goods arrived in Singapore.

There are two methods of computing the GST on Tax Invoice when the invoice contains more than one item with the standard rated supplies....