With less than 100 days to the implementation of the Goods and Services Tax (GST), Sage Software Sdn Bhd has revealed that many are still struggling to understand its mechanics in relation to accounting functions.
Company managing director, Michael Cho said, “Businesses should be well-prepared by now for the GST, but many are not. We are still a long way from reaching everyone. This is why we are going on a roadshow to address the issue, answer questions and provide assistance to customers.”
Sage Software’s free nationwide roadshow which kicked off in Kuala Lumpur at the end of last month attracted over 1,000 participants from a broad spectrum of sectors.
The first stop on the roadshow saw strong participation from accountants, finance professionals and business owners, who were at different stages of understanding and implementing GST functions in their respective organisations.
Speaking of his palm oil business, a seminar participant who is an accountant said, “We are a small company dealing with foreign suppliers and we are trying to understand how the GST will affect our dealings.
“We are still learning about GST and are in the process of upgrading our software. The clinic has certainly been helpful, but I think it will be useful to attend further sessions.”
The two-session seminar proved useful as it also addressed several apprehensions.
Top concerns included how to correctly utilise specific functions such as invoicing in GST-compliant accounting software.
Other concerns included the software’s ability to keep up with ongoing changes to the GST.
Another participant said that her company had yet to embrace GST and was still surveying accounting software options.
Sage’s second GST session went into further detail and outlined other steps to ensure readiness both in integrating business processes to increase productivity and training people to correctly implement GST.
The Sage GST Clinic will also continue its roadshow in English and Mandarin in over 20 other locations around Malaysia.
For details, visit www.sage.my or contact 1300-88-7243.