Accounting and Tax Club.co.za Q&A
There are 12 taxable fringe benefits - are you taking advantage of all of them?

Find out more here
 

"IT14SD - Reconciliation of Input VAT and Cost of Sales"

How do we reconcile the input vat and cost of sales in the IT14SD - Does every reconciling item need to be disclosed in the explanation section to the document? How would the movement in the opening and closing stock be accounted for in the reconciliation? What is the easiest and most efficient way to provide this reconciliation without making errors. Thanks


Added to
  • IT14SD form
  • Sars it14sd

Lingum
 User  Lingum asked on 04 Mar. 2013

 

2 answers

Vote answer I appreciate this answer [0] I am unhappy with this answer [0]
Annja01
 Expert Annja01 answered question on 10 May. 2013
How do we reconcile the input vat and cost of sales in the IT14SD - Does every reconciling item need to be disclosed in the explanation section to the document? Yes

What is the easiest and most efficient way to provide this reconciliation without making errors? – Doing it from your actual accounting records


Vote answer I appreciate this answer [0] I am unhappy with this answer [0]
AMBage114896
 User AMBage114896 answered the user’s Annja01 on 13 Jul. 2013
AnnJa01- I cannot find your answer. Can you repeat it please?
AMB


 


RSS Facebook Share the experience
Accounting and Tax Club.co.za
Topics
  • Accommodation
  • Accountant
  • Accounting
  • Allowances and deductions
  • Audit/Assessment
  • Bookkeeper
  • Budget Speech 2014
  • Budget Speech 2015
  • Capital gains tax
  • Company cars
  • Depreciation
  • Dividends
  • Donations Tax
  • Employee taxes
  • Employment Tax Incentive Act
  • Exports and imports
  • Financial Manager
  • Fringe benefits
  • Input tax
  • IT14SD form
  • Medical expenses
  • MOI
  • Provisional tax
  • Sars
  • Tax invoices
  • Tax returns
  • Travel allowances
  • Vat basics
  • Vat refunds
  • Vat registrations
  • Vat return
  • I don’t think anyone was surprised by the budget speech. The increases were expected, as government had only two means available to it by which to meet budget requirements: decrease spending or... [read more]
Video Archive Video club

 
Get your free 2015 tax tables report

And ensure you calculate your tax correctly.

Simply sign up to the Tax Bulletin to get your FREE 2015/2016 Tax Tables report.