This programme is aimed at operations and clerical staff who are responsible for recording or capturing liabilities from supplier invoices or dealing with either accounts payable or receivable matters where VAT is an integral part of their day-to-day routines.
Module A: VAT Basics
The basic workings of VAT
The concept of Value Added
Module B: The Tax Invoice
Invoice vs. Tax Invoice
Full vs. Abridged Tax Invoice
Petty Cash slips
Module C: The VAT Control Account
Accumulating the liability
The VAT Reconciliation
The VAT Return and payment dates
Module D: VAT Exceptions and Adjustments
Allowable Input VAT
Disallowable Input VAT
Account Write-offs and bad debts
Penalties and interest
A delegate workbook as well as a range of case studies and workshop work. Discussion exercises in small groups facilitate transfer of learning to the delegates.
Course duration is half a day. Presented in-company
FOR WHOM INTENDED
Operations and clerical staff who deal with VAT on a daily basis.