This applies to South African customers only.
While Fincon Accounting doesn’t have a specific VAT report, you can find the information required to complete your VAT201 return pretty easily.
Watch this video to see how to get your VAT information or follow the steps below it.
Getting the output VAT information
View the debtor list of entries per period for invoices and credit notes
Navigate to the correct window
- Navigate to Debtors / Reports / List of Entries/Period.
Enter the report parameters
- Select the appropriate year from the Year dropdown list.
- Select the appropriate period range from the From Period and To Period dropdown lists.
- Select Invoices/Credit Notes from the Entries dropdown list.
- Click the Accept button.
From this report, the following information can be obtained:
1. The total output tax value is shown in the Total Tax text box.
2. The total transaction value (including VAT) is shown in the Total Transactions text box.
From here, you can also print the detailed report by clicking the Print button, specifying the Print Options and clicking the OK button. This is especially useful if your VAT201 return gets reviewed by SARS and you have to submit a detailed schedule of your output VAT.
1. The total output tax value is shown in the Total Tax text box.
2. The total transaction value (including VAT) is shown in the Total Transactions text box.
From here, you can also print the detailed report by clicking the Print button, specifying the Print Options and clicking the OK button. This is especially useful if your VAT201 return gets reviewed by SARS and you have to submit a detailed schedule of your output VAT.
Getting the input VAT information
Depending on how you process your expenses, you might only use some of these steps or all of them.
View the creditor list of entries per period for GRVs and debit notes
Navigate to the correct window
- Navigate to Creditors / Reports / List of Entries/Period.
Enter the report parameters
- Select the appropriate year from the Year dropdown list.
- Select the appropriate period range from the From Period and To Period dropdown lists.
- Select GRV’s/Debit Notes from the Entries dropdown list.
- Click the Accept button.
From this report, the following information can be obtained:
1. The total input tax value FROM GRVs AND DEBIT NOTES is shown in the Total Tax text box.
2. The total transaction value (including VAT) is shown in the Total Transactions text box.
From here, you can also print the detailed report by clicking the Print button, specifying the Print Options and clicking the OK button. This is especially useful if your VAT201 return gets reviewed by SARS and you have to submit a detailed schedule of your input VAT.
1. The total input tax value FROM GRVs AND DEBIT NOTES is shown in the Total Tax text box.
2. The total transaction value (including VAT) is shown in the Total Transactions text box.
From here, you can also print the detailed report by clicking the Print button, specifying the Print Options and clicking the OK button. This is especially useful if your VAT201 return gets reviewed by SARS and you have to submit a detailed schedule of your input VAT.
View the creditor list of entries per period for expenses
Navigate to the correct window
- Navigate to Creditors / Reports / List of Entries/Period.
Enter the report parameters
- Select the appropriate year from the Year dropdown list.
- Select the appropriate period range from the From Period and To Period dropdown lists.
- Select Expenses from the Entries dropdown list.
- Click the Accept button.
From this report, the following information can be obtained:
1. The total input tax value FROM EXPENSES INCURRED is shown in the Total Tax text box.
2. The total transaction value (including VAT) is shown in the Total Transactions text box.
From here, you can also print the detailed report by clicking the Print button, specifying the Print Options and clicking the OK button. This is especially useful if your VAT201 return gets reviewed by SARS and you have to submit a detailed schedule of your input VAT.
1. The total input tax value FROM EXPENSES INCURRED is shown in the Total Tax text box.
2. The total transaction value (including VAT) is shown in the Total Transactions text box.
From here, you can also print the detailed report by clicking the Print button, specifying the Print Options and clicking the OK button. This is especially useful if your VAT201 return gets reviewed by SARS and you have to submit a detailed schedule of your input VAT.
View the ledger list of entries per period for transfers
Navigate to the correct window
- Navigate to Ledger / Reports / List of Entries/Period.
Enter the report parameters
- Select the appropriate year from the Year dropdown list.
- Select the appropriate period range from the From Period and To Period dropdown lists.
- Select Transfers from the Entries dropdown list.
- Click the Accept button.
From this report, the following information can be obtained:
1. The total input tax value FROM BANK TRANSFERS is shown in the Total Tax text box.
2. The total transaction value (including VAT) is shown in the Total Transactions text box.
From here, you can also print the detailed report by clicking the Print button, specifying the Print Options and clicking the OK button. This is especially useful if your VAT201 return gets reviewed by SARS and you have to submit a detailed schedule of your input VAT.
1. The total input tax value FROM BANK TRANSFERS is shown in the Total Tax text box.
2. The total transaction value (including VAT) is shown in the Total Transactions text box.
From here, you can also print the detailed report by clicking the Print button, specifying the Print Options and clicking the OK button. This is especially useful if your VAT201 return gets reviewed by SARS and you have to submit a detailed schedule of your input VAT.