For owners and accountants who want VAT and WHT worked out as sales are recorded.
Your VAT and WHT figures stay in one place when it is time to file. You or your accountant submit the returns.
Simplebks works out VAT and withholding tax (WHT) on the transactions you record, keeps them in their own accounts and gives you the reports you file from. It is reporting, not filing: Simplebks does not send anything to a tax authority.
You or your accountant submit the returns.
No more end-of-month spreadsheets. The tax is calculated when the invoice, sale or purchase is recorded, so the figures are already there when the deadline is.
Output VAT you collect and input VAT you pay post to their own accounts on invoices, sales, POS sales and purchases.
On an expense you enter the input VAT yourself; Simplebks does not add VAT to expenses.
When you pay VAT to the tax authority, record it as a VAT Remittance under money out and the balance clears.
WHT your customers withhold: choose the payment class on the invoice. The customer pays the net amount and the withheld amount sits in WHT Receivable as a credit you can recover.
WHT you withhold from suppliers: choose the payment class on a purchase, purchase order or expense. It sits in WHT Payable until you record a Tax Remittance.
The VAT Summary shows output VAT, input VAT, the amount debited to VAT payable and the net VAT due, by day, month or year. Tax Reports add Tax Summary, WHT Summary and Consumption Tax Summary tabs with totals by tax type, by month and by transaction, exportable to CSV once your tax profile is on. Once tax is switched on, your monthly management report carries a tax section stamped "For reporting only. This is not a tax filing." Changes to tax settings, mappings and rate rules are recorded in Audit Events.
Your accountant can work in your live books with access you approve, including the VAT and WHT reports. See accountants. To check a price before you record it, use the free VAT calculator.
| Free | Basic | Professional | Enterprise | |
|---|---|---|---|---|
| Tax settings, VAT and WHT calculation, item mapping | No | No | Yes | Yes |
| VAT Summary and Tax Reports | No | No | Yes | Yes |
| WHT certificates | No | No | Yes | Yes |
| Tax section in the monthly management report | No | No | Yes | Yes |
| Tax by branch | No | No | Yes | Yes |
Below Professional, Simplebks does not calculate tax. Only the tax fields you fill in by hand are posted.
No. Simplebks calculates VAT and WHT and gives you the reports you file from. You or your accountant submit the returns.
7.5% for Nigeria by default. You can change the rate in your tax settings.
WHT is calculated by payment class, with rates for resident suppliers and customers built in. A customer's withholding is netted on the invoice and held as a recoverable credit. WHT you withhold from suppliers is held as a payable until you remit it.
Yes. Download a certificate PDF from an invoice or a purchase order. Add the customer's or supplier's tax number to their record, and your own in Business Profile, so they appear on the certificate.
Open the VAT Summary for output VAT, input VAT, the amount debited to VAT payable and net VAT due by period. Your monthly management report also carries the figures once tax is switched on.
Professional or Enterprise. They include the tax settings, VAT and WHT calculation, the reports, WHT certificates and the tax section of the monthly report. See pricing.
Know your VAT and WHT position before the deadline.
