VAT submissions can be an accounting headache. Staring at a manually compiled submission for hours, searching for the wayward human error that keeps creeping in, can be frustrating.
Fortunately, the era of error remediating and time consuming VAT submissions is over, thanks to automated VAT submissions for Sage Accounting Accountants Edition.
Automated VAT 201 revolutionises submissions, streamlines compliance, and reduces the need for manual data entry for accountants and their customers. Digital submissions allow accountants to easily prepare, submit, and track their VAT 201 declarations to SARS eFiling directly from within the Sage Accounting solution.
Key benefits of digital VAT submission
1. It’s automated
Once you’ve selected the ISV activation within Sage SARS eFiling (see instructions below), the VAT 201 wizard assists you in populating the VAT amounts and at the click of the submit button, automatically uploads your submission to SARS. Returns submitted between 06:00 and 18:00 will be queued and processed after 18:00. Any submissions made between 18:00 and 06:00 will be processed immediately. You can then track the status of your submission from Sage Accounting.
2. Frees up time to add value
Digital VAT submission frees up time that accountants can use to advise customers and grow their practices. It allows accountants to manage their small business customers from one central location, which increases efficiency, reduces admin, uses fewer resources, and minimises errors.
3. Eases compliance
Streamlined and automated VAT submissions eliminate the chances of human error and duplicated work, and improves the accuracy of a critical compliance process. With fewer manual processes, Sage makes it faster and easier for accountants and businesses to file submissions.
So, when can you start using it?
You can get started now! Sage launched the Automated VAT submissions feature to accountants mid-July, so give it a try and let us know what you think.
Tania Malan, AGA (SA) at Donna HD Chartered Accountants, one of the early adopters, said: “We will definitely be using the submission platform. It will avoid incorrect submissions and the logging in on eFiling to submit. Furthermore, it’s user-friendly, and our repetitive tasks can now keep up with the ever-changing technological advancements.”
How to set up SARS eFiling integration
Simply follow these steps:
1. Login to SARS eFiling
2. Select the organisation option on the left-hand bar
3. Select ISV activation
4. Choose Sage as the ISV Application
5. Copy the login key from SARS eFiling
6. Click on activate
Changes and amendments to VAT 201 submissions
If you have any changes to the uploaded data, you’ll need to restart the VAT 201 wizard to incorporate your changes. It’s also good to note that when you reopen a closed VAT period, your VAT 201 report will be removed. This is based on the assumption that you want to include new data – which means submitting a new report.
Regarding amendments, SARS only allows users to electronically submit their VAT 201 report using accounting software once. If you want to re-generate your VAT 201, you’ll need to generate a manual VAT 201 Report, which is downloadable in PDF. You’ll then need to use the SARS eFiling online function to resubmit.
Want to know more? Register for the Sage Business Cloud Accounting VAT module online course.