Tax rate of 15% = Vat

1

Hi here is SA we are charged vat which is a flat rate of 15%. My sales invoice excluding vat is R 2558497.3. My sales invoice including vat is R 2 942 272. The vat amount is R 383 774.70 which is reflected correctly on the Sales Invoice.

However, under Liabilities SARS vat, the vat is shown as R 441,340.79. why is this so?

Here is a breakdown of the sales invoice :

Description Amount

Sales 2,558,497.30

Sub-total R 2,558,497.30
VAT R 383,774.60
Total R 2,942,271.90
Less: Receipt — 3/5/2020 R 2,400,000.00
Less: Receipt — 3/13/2020 R 542,270.98
Balance due R 0.92

Why is the vat under liabilities not the same as vat on the sales invoice?

2

It is not possible to answer your question from the information provided. At a minimum, you need to show a screen shot of the Edit screen for the sales invoice.

Further, what tax code was applied? Was it the one installed from the South African localizations? If not, read the Guide: Add localized settings and features | Manager.

You also mention a flat rate. Did you define a tax code yourself and check the box for flat rate? If so, read about flat rate tax schemes in this Guide: Create and use tax codes | Manager.

3

many thanks it worked I am sorted.