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VAT Workshop Synopsis

MAJOR OBJECTIVE
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.
 
COURSE CONTENT
Module A: VAT Basics
The basic workings of VAT
The concept of Value Added
VAT Registration
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
Airline Tickets
Deemed VAT
Account Write-offs and bad debts
Settlement discounts
Penalties and interest
 
TRAINING METHODOLOGY
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
Course duration is half a day. Presented in-company
 
FOR WHOM INTENDED
Operations and clerical staff who deal with VAT on a daily basis.