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VAT 201 Wizard: Changes to the VAT Returns and Reports screen

Created on  | Last modified on 

Summary

The page layout of the VAT Returns and Reports screen in Sage Accounting was updated to allow for better visibility of the information relating to each VAT Period.

Resolution

To view these changes, click on Reports > VAT:

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  1. The VAT Period Status was renamed from “Status” to “Period Status”. This column thus indicates whether the specific VAT Period is Open – thus allowing changes to the transactional content included in that Period, or Closed - thus not allowing changes to the transactional content included in that Period.

  2. A Submission Status column was added. This column will indicate whether a VAT 201 Report has been successfully generated for the specific VAT Period, and/or submitted to SARS by the company Accountant. By hovering a cursor over this icon, the user could get more detail on the particular status.
    Reopening a closed VAT Period will automatically reset the Submission Status to allow for regeneration of the report.

VAT Periods that existed prior to this release will not display any Submission Status, and the existing Period Status will be unaffected. The user can still maintain the Period Status by Opening/Reopening/Closing a VAT Period. Only once any of the VAT Wizard is run on any of these historic periods, will Sage Accounting update the Submission Status accordingly.

  1. A new Submission Restart option has been added. This would allow the user to recreate an existing VAT 201 Report for the specific closed VAT Period.

Please note: The South African Revenue Service currently only allows a user to electronically submit their VAT 201 report once through an accounting software product. When re-generating your VAT 201 you will thus have to select to generate a Manual VAT 201 Report (Pdf) to download, after which you’ll need to make use of SARS E-filings’ online functionality to resubmit.

  1. The new VAT 201 Wizard column will be used to initiate the creation of a new VAT 201 Report, continue with a partially generated VAT 201 Report, or open a previously generated/submitted VAT 201 (Pdf) Report.

  2. The Report Last Access By column would allow any user to know which Regular User, Accountant or Accountant Edition User last accessed the VAT 201 Report.


Go Back to VAT 201 Wizard: Overview

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