VAT Compliance for Bookkeepers
Presenters : Doubt Moyo
Overview
VAT compliance is a critical function for bookkeepers who manage financial records and ensure their organisations remain aligned with SARS regulations. This session is tailored to empower bookkeepers with the practical knowledge required to manage Value Added Tax (VAT) responsibilities confidently and accurately. Participants will gain a solid understanding of the VAT framework, registration thresholds, input and output VAT, VAT return submissions, and common pitfalls that could lead to penalties or audits. This essential training will provide clarity on VAT-related legislation and enable attendees to apply this knowledge in their daily bookkeeping functions.
Join Doubt Moyo as he guides bookkeepers through the critical aspects of VAT compliance, from registration to filing returns, and highlights practical tips to maintain accurate records and avoid costly mistakes.
Learning Objectives
Attending this webinar will equip you with the following skills:
• Understand the foundational principles and legislation governing VAT in South Africa
• Identify when VAT registration is compulsory or voluntary and follow the correct procedures
• Record and calculate input and output VAT accurately for different types of supplies
• Prepare and submit VAT201 returns in line with SARS requirements and deadlines
• Avoid common VAT-related errors and maintain accurate records for audit readiness
Content
The webinar will cover the following topics:
- VAT Fundamentals and Application
- Definition and purpose of VAT
- Standard vs zero-rated and exempt supplies
- Input VAT and output VAT explained
- The role of VAT in business cash flow
- VAT Registration
- Compulsory and voluntary registration criteria
- Bookkeeper Responsibilities in VAT Compliance
- Recording and classifying transactions
- Preparing and filing VAT201 returns
- Supporting documentation and record-keeping requirements
- Calculation and Submission of VAT
- How to calculate VAT payable or refundable
- Submission channels and deadlines
- Common VAT Errors and SARS Penalties
- Incorrect classifications and disclosures
- Missed deadlines and reconciliation issues
- Importance of maintaining audit-ready records