Release Notes: Version 3.10.0 (2024 SST Compliance Update)

Release Date: 1 March 2024 (Friday)

Version: 3.10.0

This document communicates the compliance updates and enhancement designed to streamline financial management for our valued users.

Version: 3.10.0 Compliance & Enhancement Updates:

Compliance Update 1:

Key Compliance Update (1):	Financio Accounting (Essentials)	Financio Accounting (Premier)
SST 8% Rate Changes and Tax Code	√	√
For Accounting Easy Management: Added a new set of existing tax codes with a tax rate of 8%. Updated tax codes SV08, IM08 *Applicable to both SST & SST-02A, TD08 and D08 with a suffix of 08 to reflect the 2024 tax rate. This ensures accurate tax calculations and compliance with current tax regulations. Click here for more information.	√	√

Kindly find the attached image for your reference:

Compliance Update 2:

Key Compliance Update (2):	Financio Accounting (Essentials)	Financio Accounting (Premier)
SST 8% Filing	√	√
To Support Accounting Accuracy: Starting March 1, 2024, user will be able to use the new 8% tax rate directly through the platform. This update streamlines your invoicing process and ensures compliance with the latest tax regulations. Click here for more information.	√	√

Kindly find the attached image for your reference.

Compliance Update 3:

Key Compliance Update (3):	Financio Accounting (Essentials)	Financio Accounting (Premier)
SST 8% Report	√	√
Updated Areas To Ensure Accounting Accuracy: SST reports in Financio has been updated with the new 8% service tax rate information to ensure accurate SST reporting. Enhancement made on areas as below: SST Details SST Summary SST-02A Details SST-02A Summary Click here for more information.	√	√

Compliance Update 4:

Key Compliance Update (4):	Financio Accounting (Essentials)	Financio Accounting (Premier)
Financio Subscription Invoice	√	√
Ensuring Streamline Data Updates & Reporting: Financio invoice has been upgraded to reflect the new SST rates (8%) User can ensure tax rate accuracy by identifying the code stated in the invoice tax column from SV06 to SV08 Click here for more information.	√	√

Kindly find the attached image for your reference.

We are confident that Financio Accounting Version 3.10.0 will empower you to take control of your finance with greater efficiency and precision. Experience the enhanced features and embark on a journey of financial well-being.

Need assistance? Contact Financio Accounting Customer Support Team or email to us.

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