GST Ready…

gst

Mylegalsoft- Software Solution for Law firm in Malaysia

To comply with the Malaysia Government requirement, Mylegalsoft is now come with Goods and Service Tax (GST) features. With the newly added in features, Mylegalsoft can calculate the input and output tax automatically and generate relevant reports like GST-03 and GST Audit File GAF for quarterly or monthly submission.

Mylegalsoft is a law practice management software specifically design to handle law firm accounting needs, we build solutions that is 100% based on the requirement from experience law firm operator and senior partner, we improve the work flow for case handling and management in order to shorten the document processing time, we simplify the calculation process to generate professional bill to client, we keep detail records for tax declaration, we help law firm manage and control disbursement account to avoid over run cases..

 

What is GST?

“GST which is also known as VAT or the value added tax in many countries is a multi-stage consumption tax on goods and services.

GST is levied on the supply of goods and services at each stage of the supply chain from the supplier up to the retail stage of the distribution. Even though GST is imposed at each level of the supply chain, the tax element does not become part of the cost of the product because GST paid on the business inputs is claimable. Hence, it does not matter how many stages where a particular good and service goes through the supply chain because the input tax incurred at the previous stage is always deducted by the businesses at the next step in the supply chain.

GST is a broad based consumption tax covering all sectors of the economy i.e all goods and services made in Malaysia including imports except specific goods and services which are categorized under zero rated supply and exempt supply orders as determined by the Minister of Finance and published in the Gazette.

The basic fundamental of GST is its self-policing features which allow the businesses to claim their Input tax credit by way of automatic deduction in their accounting system. This eases the administrative procedures on the part of businesses and the Government. Thus, the Government’s delivery system will be further enhanced.

We need to pay taxes so that the government can finance socio-economic development; which includes providing infrastructure, education, welfare, healthcare, national security etc.

“Over the past few decades, the worldwide trend has been for the introduction of a multi-stage GST system. Today, almost 90% of the world’s populations live in countries with GST, including China, Indonesia, Thailand, Singapore and India.”
(Taken from http://gst.customs.gov.my/en/gst/Pages/gst_wi.aspx)

MyLegalSoft


Client Case Management
Manage your client file systematically with flexible searching capabilities.

Document Management Module
Generate standard documents easily with the help of Microsoft Word Mail Merge function to help you create professional look document or letters on the fly.

Client Account Management
Keep track your client account accurately and say good bye to overrun or over disburse issue that cause your firm losing substantial amount of your hard earn money.

Office Account Management
Generate your firm accounting reports on the fly. No more penalty for late report submission to LHDN or bar council.

Trust Account Management
Keep track and manage trust money you collect from your client.

Proforma Bill Support
System will generate proforma bill for discussion purpose to help to ensure more accurate data reflex in your firm profit and loss reports.

Conflict of Interest Checker
Hassle free conflict checker help you to avoid any conflict of interest when you open a file for your new client.

Management Reports
Generate firm financial status report, statement of account, pending activities list, official receipt listing, payment voucher listing.

Accounting Reports
General Ledger, Balance Sheet, Trial Balance, Profit and Loss.

MyAuctionPro


Manage property assigned by bank for easy retrieval.

Auction Management
Manage auction events for a list of property assigned by bank.

Bidder Registration Module
BRegister new bidders and agents into the system during auction events.

Proclamation of Sales
Generate Proclamation of Sales, condition of sales and contract of sales based on specific format define by bank or lawyers.

PowerPoint Presentation
Auto generate power point presentation for use in auction session.

Management Reports
Generate daily auction listing report, successfully sold properties, monthly status reports.

Recommended Vendors