Inclusive vat - Study guides, Study notes & Summaries

TAX3761 VAT_N Tax (inclusive) on the consumption of goods or services in SA (14%) 1. The Basics 1.1 Introduction: Each time consumer purchases goods or services (G or S) from vendor in SA, pays price that includes VAT.  Indirect tax (consumer pays, entity collects + gives to SARS) & direct cost to final consumer (can’t claim back from SARS)  Charged on usage  Registered vendors may claim VAT as Input Tax in certain circumstances  Based on subtractive or credit input metho...

Invoice GL Impact vs. Standalone Invoice - Correct answer-Debit AR/ Credit Sales Income. Standalone: Debit AR/ Credit COGS When are statement charges used? - Correct answer-Use instead of invoice when you want to see several charge accumulate before billing a customer. Debit AR/ Credit Sales Income Non posting NS Transactions - Correct answer-Estimate Liability Adjustment Opportunity Payroll Adjustment Purchase Order Return Authorization Revenue Arrangement Sales Order Transfer Ord...

NetSuite ERP questions with complete solution 2023Invoice GL Impact vs. Standalone Invoice Debit AR/ Credit Sales Income. Standalone: Debit AR/ Credit COGS When are statement charges used? Use instead of invoice when you want to see several charge accumulate before billing a customer. Debit AR/ Credit Sales Income Non posting NS Transactions Estimate Liability Adjustment Opportunity Payroll Adjustment Purchase Order Return Authorization Revenue Arrangement ...

FAC1502 - Financial Accounting Principles, Concepts And Procedures EXAM PACK. QUESTION 1 SOLUTION DR P HEAL CASH RECEIPTS JOURNAL (CRJ) Doc Number Date MARETT Details BANK Debtors Control Fees earned VAT Output VAT Input SUNDRIES Amount Details 450 1 K. Kelly 275 275 451 1 J. Jail 1710 1500 210 452 9 Y. Old 383 440 (7) (50) Settlement 453&491 12 Deposit 9120 8000 1120 Discount allowed 11488 715 9500 1330 (7) (50) HINTS a) Whenever you sell a good or offer a service, you ...

AIN2601 – EXAM PREPARATION 2022. (SCORED A) Practical Accounting Data Processing. This is a complete and an all-inclusive guide to AIN2601 – EXAM PREPARATION 2022 The database architecture has different levels. The level with a complete view of the entire/whole database (of which there is only one such view) is known as the _______ level. A) user B) internal C) external D) conceptual 2. The current year to date sales for each of the organisation’s customers will be contained in t...

FAC2601 EXAM PACK 2022. This is a complete and an all-inclusive guide to FAC2601 - Financial Accounting And Reporting The following list of balances appear, amongst others, in the accounting records of Vusi Ltd on 31 October 2020: Ordinary share capital (shares issued at R2.30 each) R1 265 000 Proceeds of ordinary shares issued on 30 June 2020 R 540 000 (Shares issued at R2.70 each) The following decision was taken and has not yet been recorded in the accounting records of Vusi Ltd as at ...

NetSuite ERP Questions with 100% Correct Answers 2023 Invoice GL Impact vs. Standalone Invoice - Correct answer-Debit AR/ Credit Sales Income. Standalone: Debit AR/ Credit COGS When are statement charges used? - Correct answer-Use instead of invoice when you want to see several charge accumulate before billing a customer. Debit AR/ Credit Sales Income Non posting NS Transactions - Correct answer-Estimate Liability Adjustment Opportunity Payroll Adjustment Purchase Order Return Autho...

AUE2601 EXAM PACK. This is a com0lete and an all-inclusive guide to AUE2601 - Auditing Theory And Practice The need for Auditing Services Jackson & Stent Chapter 1 ISA 200 – Objectives and general principles governing an audit ISA 610 International Framework for Assurance Engagements External auditors – express an independent opinion if the AFS’s of a company fairly present the financial position and results of the company’s operations. NOT an employee of the company. Basically en...

AIN2601 - Practical Accounting Data Processing Semester 1 2022. Option 1: • Using Windows Explorer open the CD/DVD drive • You will find the BDS T file under FET University Take on Option 2: Auto-run: 7zip file winzip file 14 • The CD has an auto-run function. • Click on Sage Pastel Partner. • Click on FET/University • Click on Take on. Q4 How do I open the BDS Tools company? A4 Firstly you need to copy the BDS T file to the Pastel 18 folder on your C: drive by doing t...

October/November 2014 3.1. Disadvantages  Start-up and operating costs. (Hardware, software and personnel)  Database systems are complex to design and use.  Because databases are complex, it is very time-consuming to design a proper database.  Database or database management software failure will affect all application software linked to that specific database. 3.2 Type of MIS output report Example of report Financial MIS payment summaries Manufacturing MIS inventory ...