In this release, we have updated SST02 Summary and Detail report to include Service Tax Overdue invoices.
1. New checkbox in SST02 [Summary/Detail] Report Finishing Tab
New checkbox “Include Overdue Invoices Since 1-Sep-2018” added to allow user capture past overdue invoices from SST effective date (1st Sept 2018) onwards.
User requires to declare any outstanding service tax after 12 months from date of Invoice/service provided, even customer have not settle the invoice.
When checkbox ticked, SST-02 report will include all invoice(s) with detail lines tagged Service Tax Code SV06 which not fully settle since SST commencement date 1-Sep-2018 until right before selected reporting period of SST-02.
This checkbox is meant for user first time to report service tax which overdue more than 12 months.
Once this checkbox ticked/used in particular SST reporting period, all subsequent SST reporting period should not tick it again.
2. SST02 [Detail] Return report layout
Under field 11C, have added new item: Overdue Service Tax, it will add to Total 11C.
SST02 [Summary] Return report layout
In this release, we have added a new report named Financial Analysis.
1. Index To Reports > Accounts > Financial Analysis
For a start, it has some basic financial ratio analysis to help company stakeholders understand how well the business is performing and potential areas that need improvement.
This report can be found at Index to Reports > Accounts > Balance Sheet: Financial Analysis.
The sample report will look like this:
There are three types of analysis provided in this report:
1. Liquidity Ratios
A liquidity ratio that measures a company's ability to pay off its current liabilities with only cash and cash equivalents.
A liquidity and efficiency ratio that measures a company's ability to pay off its short-term liabilities with its current assets.
A performance ratio shows the proportion of finance that is provided by debt relative to the finance provided by equity.
2. Performance Ratios
A performance ratio that measure the company's ability to meet its interest payments.
Return On Capital Employed % (ROCE)
A profitability ratio that measure the returns that a company is achieving from the capital employed.
3. Profitability Ratios
Return On Sales %
A profitability ratio that calculates how efficiently a company is at generating profits from its revenue.
Gross Profit Margin %
A profitability ratio that measure how efficiently a company uses its cost of goods sold to produce and sell products profitably.
2. Edit Account Details
To use this report, user require to link relevant accounts to respective categories used in ratio analysis. This can be done via select the ‘Financial Analysis acc group’ in Edit Accounts > Details tab:
User can select financial analysis account group from the dropdown list, then click OK to save it.
To understand which category mapping requires, user may refer to formula stated in report, and mapped accordingly to get desires result.
Note: Capital Employed and EBITA are defined as:
Capital Employed = Long Term Liabilities + Shareholders Equity + Retained Earning + Current Earning
EBITA = Net Profit + Interest Expenses + Tax Expenses
3. Account List Detail Report
We have updated ‘Account List Detail’ Report to include a new Report Field, ‘Financial Analysis Acc Group’.
By including this field into report it will show the financial analysis account grouping that an account has associated with.
4. Import/Export Account Information
Import and Export Account functions has been updated with the new field Financial Analysis Account Group.
1. Export to Excel xlsx File
All report that currently has Sent To: ‘Excel’ option, now will have new option Send To: ‘Excel Xlsx File’. It enable user to save report directly as Excel file with .xlsx file extension, without need to launch MS Excel application. This will ease user who do not have MS Excel in their machine, able to save report as Excel file.
2. Extend Business Registration Number field length
Business Registration Number field length has been extended to 30 characters.
3. Update on Import Sales Invoice with Foreign Currency
Import Sales Invoice features has been updated to handle unique card type with foreign currency code.
4. Item Movement Report
Every item movements per transaction, can now show up to maximum of 25 locations.