Help & Support Knowledge Base
Article #16 |
Important VAT Notes |
FlexiAuction handles VAT in three ways
Click Tools [Clipboard icon]
Click Settings
Change "Buyer VAT on lots" to selected setting as described in this section
Click SAVE
SELLER STATUS
Buyers purchase the lots directly from the seller.
You as auctioneer do NOT pay the VAT on the lots sold to SARS, as you are only the
agent between the two parties.
You will only pay VAT over to SARS on commission and expenses
The Buyer will pay VAT on a Standard-rate lot if the seller of that lot is a VAT vendor.
The Buyer does NOT pay VAT on a standard-rate lot if the seller of that lot is a non-VAT vendor.
The Buyer does NOT pay VAT on zero-rated lots.
The Buyer will always pay VAT on commission (if commission applicable).
The Buyer will pay VAT on expenses if VAT was captured for that expense.
The Seller will only be paid out VAT on his standard-rate lots if he is a VAT-Vendor.
The Seller will not be paid VAT on zero-rated lots.
The Seller will always pay VAT on commission (if commission applicable).
The Seller will pay VAT on expenses if VAT was captured for that expense.
ALWAYS YES
Buyers purchase the lots directly from you, the auctioneer.
(You buy the lots from the seller and then sell it to the buyer)
You as auctioneer will pay the VAT on the lots sold to SARS,
as you are deemed the seller of the goods.
You will also pay VAT over to SARS on commission and expenses
The Buyer will always pay VAT on Standard-rated lots.
The Buyer does NOT pay VAT on zero-rated lots.
The Buyer will always pay VAT on commission (if commission applicable).
The Buyer will pay VAT on expenses if VAT was captured for that expense.
The Seller will only be paid out VAT on his standard-rate lots if he is a VAT-Vendor.
The Seller will NOT be paid VAT on zero-rated lots.
The Seller will always pay VAT on commission (if commission applicable).
The Seller will pay VAT on expenses if VAT was captured for that expense.
SELECT YES/NO
You as auctioneer will tick or untick the "BUYER VAT" tickbox,
depending on whether you want the buyer to pay VAT on that lot.
THIS METHOD IS NOT RECOMMENDED!!
The Buyer will always pay VAT on a Standard-rated lot if BVAT set to YES for that lot
The Buyer will NOT pay VAT on a Standard-rated lot is BVAT set to NO for that lot
The Buyer does NOT pay VAT on zero-rated lots.
The Buyer will always pay VAT on commission (if commission applicable).
The Buyer will pay VAT on expenses if VAT was captured for that expense.
The Seller will only be paid out VAT on his standard-rate lots if he is a VAT-Vendor.
The Seller will NOT be paid VAT on zero-rated lots.
The Seller will always pay VAT on commission (if commission applicable).
The Seller will pay VAT on expenses if VAT was captured for that expense.
Extra Notes on VAT
Ensure that your Default VAT rate in Tools > settings is “14%”
Ensure that you are running the newest version of FlexiAuction
Ensure that you set the VAT amount for expenses correctly when you are invoicing
If Expense Rules is used, ensure that you tick/untick VAT
Ensure that you set the VAT rate to "0" for zero-rated items, e.g. "LIZ"
Ensure that you set the VAT rate to "14" for standard-rated items, e.g. "LIV"
If you change the payer/payee on lots, be aware that the VAT status of the
new payee/payer might differ from that of the lot's buyer/seller. Ensure that the correct VAT amount is paid out or collected.
When you invoiced a customer with the wrong invoice, always reverse the invoice before you amend the VAT nr.
Customer VAT Nrs
FlexiAuction will treat a customer as VAT registered if there is anything filled into the VAT field for that customer.
If a customer is not registered for VAT, leave the VAT field blank
If the customer is not an South-African person/company, prefix the VAT Nr with "*INT*" to ensure No VAT will
be added/deducted for this customer, e.g. "*INT*00389289"
When you make a change on the vendueroll and the lots is already assigned to the customer
I a lot was assigned to a buyer with [+LINE] or [+ALL], it will use the buyer vat option the
lot was captured with, if this change before the customer is invoiced,
you first need to remove all assigned lots with [X LINE] or [X ALL] then
re-assign the lot with [+LINE] or [+ALL] to ensure that the change will effect
Non VAT Registered Auctioneers
If you, as auctioneer is not VAT registered, you must always use the "SELLER STATUS" method.
To ensure that the system will NOT deduct VAT on commission and expenses,
please ensure that you have a file named NOVATNR.TXT in your Profile folder. e.g. "c:\fxa\@abc\novatnr.txt"
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