Country & TaxFree worksheetPDF, Excel, Word exportSouth Africa

South Africa VAT 201 Reconciliation Worksheet

Every VAT period, the figures on the return should agree with the VAT accounts in your ERP, or the difference should be explained. This worksheet lines the two up by period and calculates output, input and net differences for you.

Download:

Output difference	Input difference	Net payable difference
R 0	R 400	-R 400
R 2,700	R 0	R 2,700
R 0	-R 1,600	R 1,600

Total output difference

R 2,700

Total input difference

-R 1,200

Total net difference

R 3,900

Average net difference per period

R 1,300

Take ledger figures from the VAT control or VAT output and input accounts for the same tax period dates as the return. Differences are timing, adjustments or errors, and need an explanation. This is a working paper, not tax advice. Confirm treatment with your tax practitioner or SARS guidance.

Automate your VAT control account review

Optional: a read only report from your ERP that lists postings outside normal VAT coding.

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How to use it

Add one row per VAT period. Enter output and input VAT from the ledger accounts for exactly the dates of the period, then the amounts you declared on the VAT 201. The sheet shows the difference in each, and the net difference in the amount payable or refundable. Anything other than zero needs a note: a late invoice, a credit note in the next period, a manual journal or a coding error.

Where differences come from

Most differences are timing. Invoices dated in one period but captured in the next, supplier invoices received after the return was submitted, and credit notes are typical causes. Others are classification: an item coded as standard rated that should be zero rated or exempt, or input VAT claimed on an expense that is denied. Manual journals to the VAT accounts also bypass the transaction coding and are worth reviewing.

Cut off errors between months
Wrong VAT code on a transaction
Manual journals posted to VAT accounts
Imports and customs VAT captured late

Good practice

Reconcile every period, not only at year end. Keep the signed worksheet with the submitted return and the supporting reports from the ERP, so you can answer a SARS query quickly. Where a difference carries forward, record where it will correct. Review your VAT codes at least once a year and after any change of rate or ERP configuration.

Frequently Asked Questions

Which VAT accounts should I use?

Use the output VAT and input VAT control accounts your ERP posts to, for the exact start and end dates of the return period. If you use a single VAT control account, split the debits and credits.

What if the net difference is small?

Small differences still need an explanation, even if you decide not to correct them. Rounding is acceptable only if you can show it. Record the reason so the reviewer and any auditor can see it was considered.

Does this work for other countries?

The layout works for any VAT or GST return that has output and input tax. Rename the columns and use your local return amounts. The labels here follow the South African VAT 201.

Is this tax advice?

No. It is a working paper to compare two sets of numbers. Tax treatment depends on your facts, so confirm it with a registered tax practitioner or the relevant SARS guidance.

If this reconciliation is a manual monthly chore, we can build a report that pulls the VAT ledger and flags unusual postings automatically.

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