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Accounting and Tax Club.co.za Q&A
Here’s why Gail doesn’t spend R10 000 a month on bookkeeping fees
Gail is a GP who’s just opened her own private practice. Because she’s trying to save money on admin costs, she is doing her books herself. She thinks: “How hard can it be?” The answer: “It’s very hard unless you’ve got the right tools at your fingertips!”
Our basic tax invoices are all generated on paper by our
Pastel accounting software. However, for speed purposes, and as sometimes requested by clients, we often email pdf copies of their invoices to them, rather than posting the hard copies. However, in either case, we always retain a hard copy for our records. My questions are as follows: 1. Does a pdf version of a hard copy represent an electronic tax invoice? 2. If so, do the hard copies then become the copy invoices, requiring to be stamped as such? 3. What about the hard copies we keep for our own records? Do they also have to be so indicated?
1. Yes; the pdf document on the computer system constitutes the original document, and thus the original tax invoice. 2. Any hard copies issued should show 'Computer-generated copy tax invoice' or at least 'Copy'.
3. The Vat Act says that it is an offence to issue more than one 'tax invoice' for a supply. A supplier issues a tax invoice only when he gives it or sends it by post or electronically to his customer. What he keeps in his own records doesn't matter. In my view, it's the safest to mark all printed tax invoices 'Computer-generated tax invoice' so that the user knows that the original tax invoice is on the computer system, and has been issued electronically to the purchaser.
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