Value Added Tax - Guidelines

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• Checklist - (Value Added Tax) Invoice

  Basic checklist that is required for a Value Added Tax Invoice.

• Future date of invoices

  Compliance Position Statement – Invoice Processing Functionality 1. Regulatory Reference – South African VAT Requirements The guidance issued by South African Revenue Service indicates that tax invoices must reflect the true date of issue and meet ...

• Company Details | Tax Rates | POS Processing | Default Inclusive / Exclusive

  Version: 2024.2.0.0 and higher Overview: Referring to the image below , a new setting was added to Company Details > Tax Rates for POS namely “User Defined”, “Always Inclusive”, “Always Exclusive”. Setting will default to “Always Inclusive” for ...

• POS | ‘Line Total’ added

  Version: 2024.2.0.0 and higher Overview: ‘Line Total’ was added to POS screen (a standard feature that will always be on)

• Debtors / Creditors | ‘Preferred Tax Rate’

  Version: 2024.2.0.0 and higher. Overview: The user will now have the ability to specify / select a ‘Preferred Tax Rate’ for Debtors / Creditors.