[Question] Claiming vat after the vat periods return was filed

[Rene Spalding]

Morning, I am new here, thank you for this informative and very helpful Forum. The shareholder has given me a file and millions of slips and Invoices that has to be entered onto Pastel as his shareholders loan. I have created the loan account and I have posted relevant info to the relevant vat period I had at the time. Now more info has been given to me and the vat claim period has passed. Do I enter the new info where vat can be claimed on the GL under today's date for e.g. in order to be able to claim this vat back?

[Justloadit]

As far as I am aware, once a VAT period is closed, it becomes a hassle with SARS to re-open that VAT period and modify it. SARS will most likely want to do an audit.
You are allowed to enter the input VAT at the next open VAT period. So enter these new invoices, under your next open VAT period, or the VAT period that has not been closed yet.

[EAB]

You will not be able to increase the input once the return is submitted, it will give you a notice that you need to include the additional input in the next VAT period.

If your previous VAT period is closed on Pastel you can use the actual invoice date when you capture the slips and it will list them under the current VAT period.

[Rene Spalding]

Thank you for your replies - my Pastel still keeps the previous periods open - but I do not want to change the returns issued in those periods, so for now I am posting the journals to the current vat period even though the Invoices may be dated in the previous periods? Hope this is okay. thanks everyone.

[CPT_2016]

enquiry on answer

"If your previous VAT period is closed on Pastel you can use the actual invoice date when you capture the slips and it will list them under the current VAT period."

This statement above, if need to find out, so if i process an invoice for example now for July (of which the vat period is closed) will the input vat reflect for the next vat return period?
What is the general rule regarding invoices, if you receive an invoice late, should you still process the invoice on the date of the actual invoice or should i process it on the date that i receive it from the supplier?

[Rene Spalding]

My gut feeling would be I would capture it (if you have already submitted a return) on the date received if possible or else in the new vat period. As far as I know you can claim vat back for 5 years? Hopefully the Guru's on the forum can help us here. Have a super day, Rene

[HR Solutions]

This has happened to me on a number of occasions. If I missed a slip then I just enter it and claim it back under the following vat month.

[CPT_2016]

I work on Pastel 14, if i capture the invoice in November, but the invoice date is for August for example, do i capture it in August?
will Pastel automatically put the VAT in the November period?

[HR Solutions]

I am not a Pastel fundi, but I would capture it with November date and keep it simple