Overview   

Value-Added Tax (VAT) remains one of the most important areas of compliance for businesses and accounting professionals. Bookkeepers play a critical role in ensuring that VAT transactions are processed accurately, records are maintained correctly, and VAT returns are submitted in accordance with legislative requirements. Failure to apply the correct VAT treatment can result in costly errors, penalties, interest charges, and increased scrutiny from SARS. 

This practical webinar provides bookkeepers and finance professionals with a comprehensive understanding of VAT legislation, registration requirements, transaction processing, reconciliations, and VAT return submissions. Participants will learn how to distinguish between standard-rated, zero-rated, and exempt supplies, correctly calculate input and output VAT, maintain compliant records, and prepare accurate VAT201 returns. The session will also address common VAT errors, audit considerations, and strategies for maintaining audit-ready financial records. 

Join Doubt Moyo as he explores the practical application of VAT principles and compliance requirements, equipping bookkeepers with the knowledge and skills required to process VAT transactions accurately, maintain compliant accounting records, and meet SARS reporting obligations with confidence. 

Learning objectives  

By attending this webinar you will gain the following competencies: 

• Understand the principles of VAT legislation, vendor registration requirements, and SARS compliance obligations. 

• Apply the correct VAT treatment to standard-rated, zero-rated, and exempt supplies. 

• Calculate input VAT, output VAT, and perform VAT reconciliations accurately. 

• Prepare, review, and submit VAT201 returns through SARS eFiling. 

• Maintain compliant documentation and minimise risks associated with VAT audits, penalties, and interest. 

Content 

The webinar will cover the following topics:  

• VAT Fundamentals and Legislation 
o Introduction to the Value-Added Tax Act 
o VAT principles and legislative framework 
o The role of SARS in VAT administration 
o Mechanics of the VAT system and business cashflow implications 

• VAT Registration and Administration 
o Compulsory VAT registration requirements 
o Voluntary VAT registration requirements 
o VAT registration thresholds and compliance obligations 
o VAT periods and submission requirements 
o Tax invoices and documentary requirements 
o Invoice basis versus payment basis accounting 
o VAT implications for non-residents and electronic services 

• Categorisation and Supply Rules 
o Standard-rated supplies 
o Zero-rated supplies 
o Exempt supplies 
o Time of supply rules 
o Place of supply rules 
o Classification of transactions for VAT purposes 

• Bookkeeping and VAT Calculations 
o Processing supplier invoices and purchase transactions 
o Processing sales invoices and revenue transactions 
o Credit notes, debit notes, and VAT adjustments 
o Recording VAT transactions in CRJ and CPJ journals 
o Calculation of input VAT 
o Calculation of output VAT 
o Determining VAT payable and refundable amounts 

• VAT Reconciliations and Adjustments 
o VAT control account reconciliations 
o Reconciling VAT balances to accounting records 
o Bad debt relief adjustments 
o Discounts and VAT adjustments 
o Fringe benefit VAT implications 
o Apportionment calculations for mixed supplies 

• VAT Returns and SARS eFiling 
o Preparation of VAT201 returns 
o Verification and review procedures 
o SARS eFiling submission process 
o Supporting documentation requirements 
o Common VAT return errors and corrections 

• VAT Audits, Errors, and Penalties 

o SARS audit processes and requirements 

o Identifying and correcting VAT errors 

o Interest and penalty provisions 

o Maintaining audit-ready records 

o Best practices for VAT compliance and risk management 

Obtaining your CPD certificate 

This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAICA and SAIPA. 

All attendees are issued with a CPD certificate available in an online profile.   

About the presenter 

Doubt Moyo 

Doubt Moyo is a dedicated and analytical financial accountant with a strong background in accounting, taxation, and forensic auditing. He holds a Bachelor of Commerce in Accounting from Midlands State University and a BCom in Applied Accounting from Oxford Brookes University. With extensive experience as both an accountant and a lecturer, Doubt has worked with institutions such as Richfield and Dateline College, where he has overseen financial records, prepared tax returns, and educated students in various accounting disciplines. Currently, he is the Managing Partner at Aphiwe Business Services, where he continues to impart knowledge and manage comprehensive financial services for clients. 

Who should attend? 

The following persons will benefit from attending this webinar: 

• Practising Bookkeepers. 

• Practising accountants including: CA(SA), Professional Accountant (SA), AGA(SA), FCCA, BAP(SA), BA(SA) and ACCA. 

• Trainee accountants. 

Price 

• R 265.00 - Online admission - Individual.  

  • Group Price 1 - From R184 per person (up to 5 users)  

  • Group Price 2 - From R121 per person (up to 10 users)  

  • Group Price 3 - From R109 per person (over 11 users)  

Steps to register for the event:  

If you already have a profile, login and register for the webinar. 

If you don’t have a profile, create a free profile then login and register for the webinar. 

Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series). 

Click here to find out about the Technical Resource Centre & CPD Subscription options. 

Additional material 

By attending this webinar you will be provided with: 

• A summarised slide presentation. 

• Reference documents and/or course material where available. 

• You can ask questions during the webinar and you will also have access to the presenter after the webinar. 

Corporate training solutions  

At the Accounting Academy, we recognize the evolving needs of businesses in today's dynamic environment. Beyond our standard webinar offerings, we provide tailored corporate training solutions designed to empower your team with the latest in accounting and professional skills. Whether you're looking for online sessions or face-to-face training, our programs are crafted to ensure a comprehensive and engaging learning experience.  

Drawing inspiration from modern training methodologies, our corporate solutions are interactive, adaptable, and focused on real-world applications. We prioritize hands-on learning, ensuring your team can immediately apply their newfound knowledge in practical scenarios.  

Interested in a bespoke corporate training experience? Reach out to us at corporate@accountingacademy.co.za or call 010 593 0466. Together, let's design a training program that elevates your team's capabilities and aligns with your organizational goals.  

Contact us  

Have any questions or need any assistance? Contact us today!  

• Online chat through our website.  

• WhatsApp: Start chatting (+27635026114)  

• Phone: 010 593 0466  

• E-mail: ticket@accountingacademy.co.za