• Reallocation from Opening Balance and VAT adjustment account

    Hi, I passed a year end VAT adjustment journal as the shareholder paid for the VAT in their personal capacity The entry went against the "Opening Balance and VAT adjustment" account I now need to reallocate this to their loan account PS this has…
  • Vat Report Sales does not correspond with Trail balance Sales

    Our auditor contacted me to ask why we over paid SARS I then figured out that the VAT Report shows we generated more sales (invoices) than the Trial Balance, with quite a significant amount, how is this possible? So it seems like we made excessive…
  • Diesel Rebate and Fuel Levy

    I work in Agriculture and would like to do my diesel fuel usage rebate through the sage program. Can anyone help with material on how to do this?
  • Changing your VAT Reporting Frequency

    As per your VAT registration, or change thereof, you may be required to change your VAT reporting frequency. This is usually from 2 months to 1 month or vice versa. It is possible to do this without affecting your previous VAT reporting history. …
  • Quick Start Guide to VAT

    Key facts about VAT for start-ups and small businesses The Quick Start Guide to VAT includes details regarding the following: VAT Basics VAT Rates VAT Registration VAT Invoices Surcharges and Penalties VAT Returns Click here for m…