The VAT 201 return is a declaration, which you need to make at the end of every tax period if you are a vendor, which reflects the VAT that you have charged on supplies, or for which you are liable to declare output tax, and the amounts that you believe you are entitled to deduct as input tax.

The difference between these amounts for that specific tax period could either result in you having to pay the difference to SARS, or you would be entitled to a refund of the difference.

If you are registered for VAT, you must submit your return by the due date, even if there is no payment required for the tax period.

To access the VAT 201 Calculation report, select the Reports menu, followed by the VAT option. You will be redirected to the VAT Returns and Reports screen. Click on the Reports drop down and select the VAT 201 Calculation Report option.

The screen above will be displayed the first time you access this report.

The VAT 201 Calculation Report will assist you with the completion of your VAT 201 return. Please check the following before submitting your VAT return:

• The correct date ranges have been selected for the VAT Period you are submitting your VAT return for.
• All transactions for the VAT period concerned have been processed.
• All transactions have been assigned to the correct VAT types.
  Click on the Next button to continue.

Select the VAT Period End Date and the Date Range that must be displayed in the report.

If you want to include VAT adjustments on the report, check the Include VAT Adjustments check box.

Check the Offset Credit in Sales / Purchases check box to offset credits against sales or purchases. Uncheck the check box to show these separately.

Click on the Next button to select your VAT Allocations / VAT Types.

VAT Allocations

You will use the VAT allocations list to determine which VAT types in Accounting relate to which VAT Codes on the VAT 201 submission form.

Select the VAT Allocations button. The following screen will display:

Select the correct VAT type against the correct VAT code from the VAT Type in Accounting drop down menu.

Click on the View Report button to view the report.

Note: The figures that display in this report are a guide only and should be checked carefully. This report serves as an aid for completing your actual VAT 201 Return and cannot be submitted to SARS.

View Audit Report

You can drill down from your VAT 201 to the new VAT Audit Report to view transactions per VAT code.