Pastel: General expenses and VAT

[TravisZA]

Hi, just wondering how you guys do this.

SARS regulations are that input VAT can only be claimed on a valid tax invoice, which requires your companies VAT number on it. But for all general office expenses purchased on the company credit card (eg. stationery, office equipment etc). how do you treat the VAT?

My thought was to create a single "corporate card" supplier and record all expenses through that supplier in order to get the input VAT from all the misc expenses.

[pietpetoors]

Only for invoices more than R3000 must you have company details and vat number on the invoice as far as I know, make sure from your auditor.

I ask to get COD accounts at all my suppliers just so they can capture my company details so that it always appear on my invoice.

[prettypegagirl]

Create a "bank account" in Pastel for the Credit Card. Record all the expenses from the card through this account. Attach all the Invoices from this purchases to the bank statement when filing. Most of the bigger companies do ask for the details on invoices above R3000