Before configuring Singapore GST on Financio, you may want to visit the following resources for more clarification:
If you are running a GST registered business in Singapore, then you will find this article useful, it will guide you to activate the pre-configured Singapore GST on Financio in just a few steps.
- Click on Control Panel at the bottom of the left side bar.
- Click on Taxes.
- Click the + button on the bottom right.
- Click on Typeand select GST.
- Select the Start Date, when your business becomes tax registered and start collecting tax from your customers.
- Update the Filing Frequency(where applicable).
- The standard procedure is to file GST returns every 3 months (quarterly). While you may request for monthly or half-yearly filing instead, this is subject to the Comptroller’s approval.
- Click Save and you have already activated Singapore GST on Financio.
Do note that the quarterly or monthly tax filing record will be automatically generated by the system as soon as you start creating transactions during a tax period. Last updated on June 1, 2016