How to key in Foreign exchange gain and loss exempted
Foreign Exchange Gain is considering Exempted Supplies and we need to update to item 12 of GST 03 Return. During the taxable periods we may have a lots of transactions which the system will generate the foreign gain automatically.
Please print out the general ledger “Foreign Exchange Gain” and check the total value of “Foreign Exchange Gain” and you can create a journal and assign the tax code “ES43” to the total amount of “Foreign Exchange Gain”.
Please feel free to download the sample guide HERE