Topics Discussed:

• Module 1: What SARS Wants to See — The Purpose of a VAT Reconciliation
  • Why reconciliations matter, what SARS checks in practice, and the difference between a “VAT calculation” and a “VAT reconciliation”
• Module 2: The VAT Reconciliation Framework (Your Repeatable Template)
  • The core components: VAT201 ↔ VAT reports ↔ general ledger ↔ VAT control accounts ↔ source documents, and how to structure a period file
• Module 3: Output VAT Reconciliation — Sales to VAT201
  • Reconciling sales registers, VAT on sales, credit notes/discounts, and ensuring output VAT totals agree across systems and the VAT201
• Module 4: Input VAT Reconciliation — Purchases to VAT201
  • Reconciling purchase/expense VAT, ensuring valid documentation exists, separating disallowed claims, and confirming correct period allocation
• Module 5: VAT Control Accounts — The Heart of the Reconciliation
  • Understanding the VAT output/input control accounts, checking movement, identifying misallocations / postings and journals, and ensuring the net VAT position is correct
• Module 6: Timing and Cut-Off — Preventing Period Drift
  • Common cut-off problems (late invoices, deposits, month-end processing), how timing affects VAT, and a simple approach to period-end VAT discipline
• Module 7: Zero-Rated, Exempt, and Out-of-Scope — The Coding Risk Zone
  • Why these categories create reconciliation challenges, how misclassification impacts VAT, and what to double-check before submission
• Module 8: Adjustments and Corrections — Journals That Must Be Tracked
  • Managing adjustments (credit/debit note corrections, bad debt considerations at high level, change-in-use conceptually), and ensuring adjustments are supported and traceable
• Module 9: Investigating Differences — A Practical Troubleshooting Method
  • A clear process for finding variances: report filters, tax codes, rounding, duplicate invoices, missing documents, incorrect supplier VAT details, and misallocated payments
• Module 10: Building the SARS VAT Pack — What to Keep and How to Present It
  • Creating a clean supporting file: reconciliations, VAT reports, invoice samples/support, import docs (if any), explanations for variances, and a checklist to reduce verification stress

All Included:

• Recording of the webinar
• Q&A with the presenter
• Downloadable course material
• Certification of training
• Assessment (optional)
• SAIT Accredited (2 verifiable CPD hours)