Non SGD Currency rate for GST F5 reporting

Some company reporting currency is in USD or EUR and expenses are incurred local (SGD ) currency
 
If your reporting currency is other than SGD  ,  your GST account will be in the currency of your company's book.

Below screen-shot is an example of a company with their GST chart of accounts in USD dollar.
 

If you choose the standard GST report, the value will be in translated into US dollar,but you are required to report your GST in your local currency ,SGD

: GST in SGD for other reporting currency

Assuming your reporting currency is in US dollar,
 
If you have a GST registered supplier bill you in USD1,000.00 and GST USD70.00. You need to have an exchange rate of 1.3XXXX to convert the USD1000 and USD70.00 into SGD

At [Setup] , [Other currency Rate for GST],

Note : Only non-SGD company login will only see this button

Click [Add] , you will see Fig 1

Below is a sample exchange rate table illustration of a USD reporting currency entity setting the USD vs SGD exchange rate for GST reporting purpose.
 
This table will allow your user to maintain all currencies versus SGD on a daily or weekly basis ( date determined by user) .

 
Learn how to add daily exchange rate of 1 USD to SGD, follow the steps [1] to [7]

You are not allowed to delete [SGD] to [SGD] = 1.0000 (See Fig 3 below)

The exchange rate above serves 2 purposes

For company where the reporting currency is non-SGD (USD / EUR)

Click Reports tab, select General ledger and select [Goods and Services Tax Return ]

Enter the date range and the GST reporting currency, that is SGD

Sample report as shown below. The rate set in Fig 3 will be used to present the SGD equivalent for GST input and output tax Reporting purpose.

Sample report of EUR to SGD F5 detailed report....Click here...