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1. VAT - Defer VAT lines to later periods

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   1 comment  ·  For small businesses » Accounting features  ·  delete…  ·  Admin →
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   Not in pipeline  ·  AdminHannah G (Admin, Xero) responded

   Hi Ingrihid, thanks for the idea and support here. We appreciate all the valuable feedback and ideas shared via our Product Ideas page.

   I can see that you are based in South Africa and that your idea likely relates to the VAT 201 report. Our VAT 201 return has been developed to comply with SARS guidelines and the option to defer individual VAT line items would go against this. For more information on VAT compliance we would recommend reaching out to SARS directly.

   You will see the VAT 201 return can only be run on an Accrual basis. Accrual basis includes all transactions by the transaction date, whereas payments basis includes all transactions by payment date.

   It doesn't look like the option to create the VAT 201 on a payments basis has been raised. If this is something you would like to suggest, please feel free to raise this idea too.

   Hi Ingrihid, thanks for the idea and support here. We appreciate all the valuable feedback and ideas shared via our Product Ideas page.

   I can see that you are based in South Africa and that your idea likely relates to the VAT 201 report. Our VAT 201 return has been developed to comply with SARS guidelines and the option to defer individual VAT line items would go against this. For more information on VAT compliance we would recommend reaching out to SARS directly.

   You will see the VAT 201 return can only be run on an Accrual basis. Accrual basis includes all transactions by the transaction date, whereas payments basis includes all transactions by payment date.

   It doesn't look like the option to create the VAT 201 on a payments basis has been raised. If this is something you would like to suggest, please feel free to raise this idea… more

   Ingrihid Povey shared this idea  ·  27 October, 2023