Another related Q for my understanding. Say everything is done correctly and as per the law etc in capturing all data... is the profit & loss statement that QuickBooks generates essentially the same figures that will be submitted to SARS as the companies annual return?

What I am getting at is even though you may have R100 worth of stock remaining from the previous FY which was paid for in full in the previous FY... This R100 will contribute to the now current years FY? in terms of tax returns?