Vat Control And Close off

Overview

QuickEasy's vat reports can be found in by navigating to Accounting>Vat Control from the main menu.

From the Vat Control module (1) Select the date period for the Vat Return then click the View button. The details of this Vat period will appear in the data area below. In the area marked (2) You will find the Vat Due/Payable

Prerequisites

We recommend that the following checks be done before printing and submitting your return to SARS.

• Ensure that your bank balance per QuickEasy agrees to your actual bank statement for the period being submitted. This confirms that all transactions on the bank statement has been processed.

• Ensure that the Trial Balance is inbalance for the period under review. This confirms that all transactions that have been processed, have been processed correctly.

• Review the detailed Vat Statement to ensure that all items included are indeed Vatable transactions.

Once these prerequisites are met, print the Vat Report and submit to SARS.

TRansaction Close off

Once your Vat Report is ready, close off the period so that no transactions can be edited after Vat Returns are submitted.

To Close transactions, navigate to Accounting> Transaction Close off dates.

Click the Accounting checkbox (1) then select the end date of the Vat period in the area marked (2) then click the Set all button. It is also possible to set dates in the grid below individually for each transaction.