How to change the VAT Rate in Backoffice
The following steps must be done on the morning of the 1st of May before any sales have been processed!
If you do not follow these steps and you ring up sales on the incorrect vat rate, the following will happen.
You will be violating South African tax law.
Cosoft will not be able to ‘fix’ the sales that you rang up on the wrong vat rate.
Your only option will be to ask your accountant to do manual tax adjustments.
Your checklist! (all these steps are explained below and you can do this all after trade on the 30 April)
Make sure the user changing the VAT has permission to change the VAT rate:
Log into Backoffice.
Confirm that the person who will be changing the VAT Rate has the access permission To Change VAT Rate;
This can be done by going to access permissions and following the next steps:
Select the employee category (Example: Manager.)
Use the search bar on the right to find the access permission To Change VAT Rate and select it.
Once the access permission has been selected, click on the UP button.
Make sure the access permission is under the “Allowed Activities for Manager”
Make sure that the user also has the permission to “View or Change Global Settings”
Backup your Database:
You now need to Back up your Database:
Click Activities > Back Up Database
Select a folder to back up your database to and click OK
Change the VAT rate in settings:
Click on Preferences.
Then click on System Settings > All Computers > Store Settings and locate the Vat Rate currently set to 15.
Click on the block next to VAT Rate and change it to “15.5”. Once vat rate is changed click on Apply.
Once you have clicked on Apply a pop-up confirmation message will appear, select Yes to confirm.
Once confirmed, Backoffice will require a password to change the VAT Rate, the user would need to enter his/her password and click on OK.
If you get an information pop-up informing you that you do not have access to change the VAT Rate, please refer to section one to give the required access to the user changing the VAT rate.
If the user has the required access the following confirmation message will appear
Menu Item prices will need to be refreshed Do you want to refresh the VAT Inclusive Price? YES: The Price Incl. VAT will be adjusted according to the Price Excl. VAT NO: The Price Excl. VAT will be adjusted according to the Price Incl. VAT |
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Select ‘No’ to keep your selling price the same:
NOTE: Please select [NO], DO NOT SELECT YES.
Once you selected NO, you will need to restart Invoicing for these changes to take effect.
Update the stock item vat and Update the supplier vat:
Click Program Settings > VAT. You will need to update the VAT rate for your Stock Items and Suppliers.
These settings must initially be UNCHECKED and applied like that. They then need to be CHECKED and applied like that, Lastly, they should be UNCHECKED again and applied like that to fully and correctly update the VAT. To start, Make sure they are NOT Checked:
Tick Override Global VAT Rate with Stock Item VAT rate. A prompt will appear asking you to refresh the stock VAT rate. Click Yes.
Then, UNCHECK the EXACT SAME setting. The prompt will appear again, click Yes
Under the “Suppliers VAT” section, CHECK the option for “Override Global VAT Rate with Supplier VAT Rate”. A prompt will appear asking you to refresh the stock item VAT rate. Click Yes.
Untick the EXACT SAME SETTING AGAIN. The prompt will appear again, click Yes:
Once done, click Apply, then Close. Make sure by the end that both the options “Override Global VAT Rate with Stock Item VAT Rate” and “Override Global VAT Rate with Supplier VAT Rate” are both left UNCHECKED at the end. Your VAT will now be updated to the correct levels across your system.
Restart your server and all point-of-sales including self service terminals
Once done, it is important to reboot all of your devices, starting with the server. Make sure all devices including SSTs and kitchen screens are rebooted.