GST Tracking for Busy Owners: The 15-Minute Weekly Routine

For most SME owners in Singapore, GST tracking feels like something only accountants do — until filing time arrives and the numbers don’t match. The truth is, you don’t need to manage GST every day; you just need a 15-minute weekly routine that keeps it tidy, compliant, and easy to file when the quarter ends.

Here’s a simple, practical structure any business owner (even without an accounting background) can follow.

1. Check What’s Been Paid and Collected

Start by confirming your bank and sales activity for the week:

• Log into your business account and note payments made to suppliers.
• Check invoices issued or sales made to customers.
• Identify which of these are GST-inclusive (7% / 8% / 9%).

With ccMonet, this step is instant — all your transactions sync automatically. AI detects GST-registered suppliers or customers, tags the transactions as “input” (GST paid) or “output” (GST collected), and updates your net position in real time.

💡 Goal: Make sure every taxable transaction is captured before it slips into next week.

2. Upload Any Missing Bills or Invoices

Your GST record is only as good as the documents behind it.
Each week, spend five minutes ensuring that:

• All supplier invoices with GST registration numbers are uploaded.
• All outgoing invoices (with your GST number) are in the system.
• No payment is sitting unlinked to documentation.

In ccMonet, your team can upload receipts from mobile or email directly. The AI reads invoice details (amount, GST, supplier name, date) automatically — no typing required.

3. Review the GST Dashboard (Your “Mini Filing” View)

This is the real heart of the routine.
Check your live GST balance:

• GST Collected: from customers
• GST Paid: to suppliers
• Net GST Position: whether you owe IRAS or are due a refund

In ccMonet, you’ll see this in one glance.
If your net GST payable is unusually high or negative, it’s a good cue to review whether:

• A big supplier bill hasn’t been posted yet, or
• A large customer invoice is missing from the system.

This quick check keeps quarterly filings clean and surprise-free.

4. Mark Outliers and Fix Before They Pile Up

Late receipts, incorrect GST tagging, or duplicate postings are easy to fix when spotted early.
Each week, scan for:

• Transactions with missing GST codes
• Bills from non-GST suppliers tagged incorrectly
• Double-counted invoices

ccMonet flags these automatically — you just confirm or correct in one click.

5. Save a Weekly PDF Snapshot (Optional but Smart)

If you want an extra layer of security, download a weekly GST summary or export it from ccMonet.
This gives you a running archive — perfect for quarterly filing prep or quick reference during an IRAS review.

6. Let Automation Do the Heavy Lifting

Your 15-minute routine stays short because most of the work happens automatically:

• Bank feed sync brings in payments daily.
• AI recognition identifies GST elements from invoices and receipts.
• Real-time dashboard shows your up-to-date GST position.

By the time filing season arrives, your GST data is already 95% ready — clean, reconciled, and backed by documents.

Stay Compliant Without the Chaos

You don’t need to be an accountant to stay GST-compliant.
You just need a calm, weekly rhythm — a quick check, a few uploads, and one glance at your dashboard.

ccMonet helps busy SME owners automate GST tracking, reconcile transactions weekly, and file with confidence — all in less time than your morning coffee break.

15 minutes a week, zero stress at filing time — that’s the ccMonet way.

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