Tax reports for South African businesses
Your VAT201 figures and a tax set-aside estimate, from the invoices you already sent.
Rebill adds up output VAT on your invoices and input VAT on your deductible expenses for any period and shows the net amount payable or refundable, the same split SARS asks for on a VAT201. A second report estimates the income tax to put aside from your profit so far this financial year, using the current SARS tables for an individual, a company or a small business corporation.
Included in Premium at R99 a month. The VAT report needs your VAT number on the account. The tax set-aside report is for South African accounts invoicing in rand.
What the two reports give you
Output and input VAT, split
Sales VAT from issued invoices, purchase VAT from expenses marked deductible, and the net figure. Each line links back to the documents behind it.
Accrual or cash basis
Accrual buckets invoices by invoice date. Cash buckets by the date the client paid. Set your default in Settings and override it per report.
Category A or B periods
Pick your VAT category and the period presets line up with your two-month SARS cycle.
One currency, no surprises
The VAT report covers documents in your account currency. Foreign-currency invoices are excluded and counted, so you know what was left out.
A set-aside number you can trust
The tax set-aside report projects this year from your profit to date and applies the SARS tables for your entity type, so you know what to move to a savings account each month.
CSV for your accountant
Both reports export to CSV. Your accountant files; Rebill does the adding up.
In one paragraph
How do I work out my VAT201 figures from my invoices?
Output VAT is the 15% VAT on the tax invoices you issued in the period. Input VAT is the VAT on the business expenses you paid in the period that are deductible. Output less input is the amount you pay SARS, or claim back if input is larger. Rebill does this calculation for any period on an accrual or cash basis, using the invoices and expenses already in your account, and exports the result to CSV.
Questions about vat and tax reports
Does Rebill submit my VAT201 to SARS?
No. Rebill produces the output, input and net VAT figures for the period. You or your accountant capture them on eFiling.
Which expenses count as input VAT?
Expenses marked tax deductible with a VAT amount recorded. Expenses added through the API without the deductible flag are left out, so check the flag when importing.
What is the difference between accrual and cash basis?
Accrual counts an invoice in the period of its invoice date whether or not it has been paid. Cash counts it when the client paid. SARS registers most small businesses on the invoice (accrual) basis; check your VAT registration.
How does the tax set-aside estimate work?
Rebill takes your profit so far this financial year, projects it to a full year, and applies the current SARS income tax tables for your entity type: individual, company, or small business corporation. It is an estimate for saving, not a return.
Can I use the VAT report if I am not VAT registered?
No. The report needs your VAT number on the account. Non-registered businesses still get the tax set-aside report.
Related features
Know what you owe SARS before the period closes.
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