Private Bag X1290, Potchefstroom
South Africa 2520

Tel:	018 299-4636
Web:	http://www.nwu.ac.za

IO Tax Services
Tel:	+2718 299-4636
Email:	andre.fourie@nwu.ac.za

MEMO

To:	FMC

From:	Andre Fourie

Date	4 September 2014

Re:	Value Added Tax

To all concerned

Within the KFS environment, E-Docs will change as follow to accommodate VAT:

Requisitions – . When completing a requisition the system will check whether a supplier is regestered for VAT and whether the commodity is a vatable item. The VAT will automatically be calculated and added to the item price

Purchase Order – The purchase order will be automatically updated with the VAT detail once the requisition is finalised

Disbursement Voucher – The disbursement voucher will cater for items that have been bought and on which VAT will be claimable according to the VAT rules.

4.	Service Billing – On this document, VAT will be accounted for on stock that is used from the service departs stores and VAT will be claimed back according to the VAT rules that are allocated to the specific account requesting the service.

Customer Credit Memo – Where this document is used to make changes to a transaction, the system will account for the VAT on such transaction if applicable.

Customer Invoice – When creating an invoice the system will allow for the issuing of the relevant type of invoice depending on the nature of the transaction and whether VAT must be charged at the standard rate or zero rate or whether the transaction is exempted from VAT

Vendor Credit Memo - Where this document is used to make changes to a transaction, the system will account for the VAT on such transaction if applicable.

7.	Payment Request – When initiating this document, VAT will also be accounted for as applicable on such transaction.

8.	Non Check Disbursement - The disbursement document will cater for items that have been bought and on which VAT will be claimable according to the VAT rules.

9.	KMM Customer Return – Upon creating this document, VAT will be accounted for according to the specific accounting information when the original transaction took place.

For more information you are welcome to contact André Fourie (andre.fourie@nwu.ac.za)

KFS Project Team