VAT Management

Stokly has a full SARS-compliant VAT system built in, supporting all VAT cycle categories (A through F).

How VAT is calculated

• Every invoice, purchase, and expense line has a VAT rate (Standard 15%, Zero-rated, or Exempt).
• VAT is calculated per line and totalled at document level.
• Output VAT (sales) is posted to 2200 — VAT Control — Output.
• Input VAT (purchases) is posted to 2210 — VAT Control — Input.

VAT periods

Stokly automatically creates VAT periods according to your VAT category:

Set your category under Company Settings → VAT Registration.

Automatic transaction assignment

When you save an invoice, purchase, or expense, Stokly automatically assigns it to the correct VAT period based on its date. Closed periods reject new assignments to prevent back-dating.

The VAT201

When a period ends, navigate to VAT → Periods → [Period] and you'll see:

• Output tax — from your sales (Block 1/12)
• Input tax — from your purchases and expenses (Block 14/15)
• Net payable/refundable — automatically calculated
• VAT201 export — PDF in SARS format, ready for e-filing

VAT reconciliation

Before finalising a period, run the VAT Reconciliation report. It compares:

• VAT accrued in the control accounts
• VAT recorded on individual transactions
• Differences highlighted for review

This catches bookkeeping errors before you submit to SARS.

Audit trail

Every VAT-affecting transaction keeps an immutable audit log. View it under VAT → Periods → [Period] → Audit Trail. Required for 5-year SARS record retention.

VAT adjustments

For corrections (e.g. a credit note that crosses periods), use VAT → Adjustments. These post to the current open period with full audit justification.

Tip: The quick-charge API endpoint defaults to VAT-inclusive amounts — VAT is extracted from the amount rather than added. This matches how external systems typically send totals.