SARS

All South African VAT paying businesses are required by law to comply with the regulations and requirements set out by SARS.   Non-compliance, including not filing in a timely manner, can have negative financial and reputational impacts on an organisation.  (MORE)

VATSolve’s product not only ensures that organisations meet all the standard VAT and VATS201, IT14SD requirements of SARS, but it also provides 25 standard analytical data views  that can be pre-determined by the company.   It enables customization to ensure that the exact internal governance and standards of an organisation can be catered for, and pre-determined exception reports can be built-into the system on a case by case basis.  

Organisations that fully leverage the functionality of VATSolve’s product can benefit from over 40reporting, analysis and data views which can be used for decision-making to drive better business performance. 

VATSolve’s product provides an unlimited customisable checklist, that is embedded into the program,  and enables organisations to monitor and rack and share the status every actionable item required to deliver fully compliant VAT records.   And all reports are calculated and displayed in compliance with statutory VAT requirements as dictated by SARS. 

Internal reporting

Industry specific and internal governance and controls mean that every organisation has both standard and unique reporting and analysis requirements.  VATSolve’s product enables organisations to define and produce predetermined reports, exemption reports and customized reports.  (MORE)

With the majority of stakeholders familiar with Microsoft Office, VATSolve has built its product to enable users to manipulate data directly in Microsoft format.  Reports can then be easily distributed to all stakeholders in a readable and user-friendly format with all the functionality that Microsoft Office affords. 

All reports are stored securely for ease of access both now and for future historical auditability and forensic examination.  Individual data transactions are viewable across a multitude of criteria including: date, GL expense type, transaction type, vendor, customer, and VAT code with additional VAT relevant information