In brief, I need your advise.
Got a problem with one of the prospect, willing to migrate from NetSuite to Acumatica.
They are now stacked to NS due to a legal requirements for data retention. Can you imagine!!!
You see, due to limited deployment models with Net Suite, they can not install the system on premise for historical usage, because they do not owe the license. So now they can not change the ERP from NS to anything else because if they unsubscribe from them - they will loose the whole system with all the customizations.
Even though the database can be extracted in some weird format, still they loose access to reports.
And for the audit they may need all the reports immediately based on auditor request.
Like, I know, what they would do if they decided to change ERP from Acumatica to something else, we allow to use unregistered license for two concurrent users, even if you unsubscribe from cloud or Subscription on Premise license. But NS do not allow that!
Here is a quick setup guide for Singapore GST Tax. Its all driven by IRAS requirements for tax codes and their behavior. Here is what tax report should include.
Here are what codes are recommended. From a guide for accounting software developers.
You can easily find these documents on IRAS web site.
In Acumatica ERP we are going to setup TAX module based on IRAS guidelines. Final Tax report should look based on above requirements.
1. Set up a tax Agency.
This is done in Accounts Payable module, just create a vendor for Comptroller of Goods and Services Tax in your system. Mark it as a Tax Agency, provide Period for report- in our case its Quarter. Then specify accounts for GST Input and Output Tax.
One important option here - I have chosen to report based on period in which documents are posted, not based on original invoice/bills dates.
2. Setup Tax Boxes for GST Report.
Remember the IRAS report format - we just need to setup in the system reporting settings and groups.
First we setup reporting boxes or lines:
Then we setup Groups:
Then for each group we have to specify the lines that we add, one by one.
Last two groups we made empty, due to non reporting nature of them.
3. Now lets setup Tax Codes.
Here is one example of the tax code, the rest are using the same logic, except inclusive ones.
For Inclusive tax, it uses different option Calculate On:
4. Setup Tax Categories and Tax Zones.
Recommended settings below. Tax categories then can be added to inventory or non stock items, while tax zones to vendors and customers.
And the combination of Zones with Categories will end up with right Tax Codes.
First of all, thak you for attending numerous trainings we did in Asia this quarter. I had collected plenty of topics for future postings. And of course I appologise for not posting for a month. :)
It was really busy quarter, we have signed more than 20+ partners, and closed 14 deals in Asia pacific. With more and more partners joining Acumatica fan club, we are also planning to grow with you !
As a company we are to settle regional partner ecosystem, with training centre and appointed traininers all over the region. Acumatica University courses are now under review and soon will be available as a classes.
In parallel I am eager to have more people in our Acumatica team. If you feel your skills are fit, feel free, join! Send me a CV or just let me know over the e-mail or skype!
Our PR is to grow as well, soon there will be events in Vietnam, Singapore, Philippines and more.
21 October we plan to have a training session for partners in Singapore for deep dive development. Those who are interested, let me know! Please note, passing course T101 is a must.