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32.064.391 - Product update 505 | 504 | 503 (Globe+) and 424 (Globe): Malaysia e-Invoice integration to MyInvois portal available (Malaysian legislation)

In March 2023, Inland Revenue Board of Malaysia (LHDN) announced that all businesses registered in Malaysia are required to generate e-invoices for B2B, B2G, and B2C transactions.The first phase of th...

30.179.250 - Product Updates 421 and 420: Advising record lines displayed for contact person in HSBC Malaysia iFile (Malaysian legislation)

By Jo-Anna Goh Li Ping

Exact Globe Next has been supporting the HSBC Malaysia iFileformat since product update 403. This product update allows you to define whether the contactperson (maximum of six recipients) with an emai...

29.133.110 - Product Updates 419, 418, and 417: SST-02 form available for tax return submission (Malaysian legislation)

By Khairunnisa Binti Rosli

To comply with the latest tax requirements and to supportthe new tax system, Sales and Service Tax (SST), the SST-02 form for thesubmission of tax returns is now available in Exact Globe Next.The enha...

28.741.520 - Product Updates 418 and 417: Payment purpose code supported in HSBC iFile for HSBC Malaysia

By Khairunnisa Binti Rosli

To support the payment purpose codefunctionality in the HSBC iFile format, the following enhancement has beenmade:In the Format type screen, twofields have been added, namely the Instruction field, an...

KPW Code as at 30 June.pdf

28.402.291 - Product Update 416: VAT box for total value of other supplies available in GST return form for year 2018 (Malaysian legislation)

By Khairunnisa Binti Rosli

The VAT box 15, which is of the sales basis type and labelled as Total Value of Other Supplies, will be available in the GST return form for the year 2018 and onwards. The VAT box will be used to repo...

28.136.846 - Product Update 415: Withholding tax introduced (Malaysian legislation)

By Khairunnisa Binti Rosli

To accommodate businesses that deal with non-residentsuppliers, the withholding tax has been introduced in Exact Globe Next for theMalaysian legislation. The withholding tax is a requirement whereby a...

28.110.151 - Product Updates 415 and 414: Enhancements to GST audit file (GAF) (Malaysian legislation)

By Khairunnisa Binti Rosli

In accordance to the latest requirements, the GST audit file(GAF) and the VAT return box (12) have been improved.GST audit file (GAF)The following table lists the changes that have been made tothe GAF...

27.271.935 - Product Updates 413 and 412: Bad debt management feature improved (Malaysian legislation)

By Khairunnisa Binti Rosli

From this product update and beyond, usersare able to change the proposed basis and VAT amounts defined by the system inthe Bad debt management screen. This feature, which has been madeavailable for t...

27.099.776 - Product Update 412: Tracking and creating bad debt relief or recovered GST entries (Malaysian legislation)

By Tina Brands

Goods and Service Tax (GST) has been introduced in Malaysiasince 1st April, 2015. Exact Globe Next supports this regulation since productupdate 409. For more information, see Product Updates 410, 409 ...

26.892.696 - Product Update 411: GST and GST reversal entries enhanced to include GST basis (Malaysia legislation)

By Hung Hui Lan

Previously, the automated entries and reversal entries could be generated with the item code(s) for the GST reporting purposes. For more information, see Product Update 411: GST reporting functionalit...

26.800.953 - Product Update 411: Reversing bank cost entries disabled for closed periods (Malaysian legislation)

By Hung Hui Lan

In this product update, an additional validation has been imposed on the accounting processes to prevent any reversals made to the paired bank cost entries once the financial period has been closed. ...

26.709.671 - Product Update 411: GST audit file (GAF) improved (Malaysian legislation)

By Hung Hui Lan

Following the latest GAF requirements, several adjustments have been made to the XML file used for the GAF to facilitate evaluation on the employee expense through the cash flow entries, sales, purcha...

26.708.450 - Product Update 411: GST reporting functionality upgraded (Malaysian legislation)

By Hung Hui Lan

This product update features the latest tax reporting system in the following aspects. Click the following hyperlinks to show or hide details in the respective sections:· Conforming to the latest GAF ...

26.653.200 - Product Update 411: Goods & services tax (GST) official exchange rates implemented (Malaysian legislation)

By Hung Hui Lan

As of product update 411, the VAT or GST revaluation functionality has been implemented in accordance to the GST requirements for transactions involving foreign currencies. This GST revaluation functi...

26.437.009 - Product Updates 410, 409 and 408: Further enhancements on the Goods and services tax (GST) reporting functionality (Malaysian legislation)

By Hung Hui Lan

A series of enhancements have been integrated to the existing GST reporting functionality in accordance to the latest GST regulations. For more information on the past release, see Product Updates 409...