Standard

Our standard package provides all the intelligence, analytics and integrity for accurate and transparent VAT reporting and management.  The functionality allows organisation to automate VAT analysis and calculation and is aligned to VAT201 submission and  requirements at dictated by SARS.  All current and historical records are stored securely and accessible via the click of a button. 

Consolidation

Organisations that operate multiple businesses each with their own VAT departments but with a single VAT registration and one VAT201 submission can benefit from a single repository view of all VAT management and reporting, with consolidation and individual company dashboards.  This enables better management of VAT transactions as well as greater visibility and transparency of a company’s VAT position.  

Cash-flow

With cash a key indicator of the financial health of a company, optimizing cash-flow and ensuring the correct cash position is reported each month is critical.  VAT over or under payments and late submissions can severely impact cash-flow and influence business decisions.  

VATSolve’s cash-flow benefit module enables organisations to optimize cash-flow by ensuring the accurate allocation of input and output VAT to the correct period.   To date cash benefits of approximately R2 million per month have been realised by large South African corporations using VATSolve’s cash-flow module.  

PLUS

IT14SD reporting and consolidation requirements, as laid out by SARS, are complex and time-consuming.  Accuracy, analysis and visibility are required to ensure data integrity as well as timely reporting. 

PLUS removes the complexity from the analysis and computation of VAT.  All general ledger transactions, including those without VAT codes can be imported either per the current period or any period the client chooses.  All data is automatically stored per period and is balanced back to submitted  VAT201s and trial balance.   The program also enables clients to conduct full audits and  drill downs to views of the original document transaction lines. 

Goods Receipt Invoice Receipt (GRIR) is tracked to general ledger expense codes providing better and richer visibility into the data when conducting risk and compliance checks.  With all general ledger splits for every document stored individually there is a greater depth of exposure to expense splits ensuring strong governance checks and controls.