Reconcile the opening GST control balance to the last filed return, subsequent payments or refunds and any identified adjustments. Keep the migrated balance separate from the current period's transaction-based GST working papers.

Accounting records, calculator and glasses on a desk
Illustrative photograph by Cht Gsml.

Establish the cut-off

Record the migration date, source ledger closing balance and first period in the new system. Obtain the filed GST return, working papers, relevant IRAS account record and bank entries. Identify whether any payment or refund had cleared by the migration cut-off.

Ask the accountant to explain the components of the opening balance. A balance imported into a control account does not by itself establish an amount to include in the next GST return.

Build a bridge between systems

For example, the old ledger contains a payable from the preceding filed quarter. The bank payment occurs after migration. Trace the opening liability to that return and the later settlement, so the new system can clear the liability appropriately. Check whether the import has also generated a current-period tax-report entry requiring review.

Keep any unfiled transaction adjustments separately identified. The accountant should assess the applicable period and any IRAS correction requirements instead of moving an unexplained difference into the next return.

Complete the handover review

Retain the source ledger, migration mapping, return reconciliation and approved corrections. Reconcile the new control account after the first payment or refund and the first GST close. Record outstanding differences with an owner and follow-up date. Preserve the original supporting tax documents for any transactions still under review.

Related practical guidance

For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.

Official guidance: the relevant official guidance.

Help with your company records

For accounting, bookkeeping and related compliance support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.