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Budget Speach of 2018: VAT RATE to increase to 15%


Importer 7: Available for Download in the right sidebar under Downloads. Note: The prices can update for up to 3 to 4 hours.


Experiencing issues viewing the videos or audio, please try a different browser. Contact us for further assistance. Have you watched the videos and are you still confused? Do you simply want to change the VAT in ExACT and replace your statement quickly? Call our VAT satellite office on 073 906 6445. (This office deals with VAT changes only and can help you telephonically. Alternatively, use the online chat on this webpage to speak to one of our VAT representatives).

I unzipped the zip file but when I printed my statement, it still shows 14%, why?

Extract the statement layouts in the .Zip File to your exact32/Reports folder on your server computer and/or to all your workstations depending on where the reports pull/read from. This will save the new 15% VAT statement layout (showing 15%) to your Reports folder.

This will then allow you to go into ExACT and select this statement from the Select Layout File window (Setup >> Printers >> Report Setups --> Report Setups window pops up >> Scroll down to Statement >> Double click on existing Statement name to change it to a new 15% VAT statement on the Select Layout File window i.e., either a VMed Statement name (any VMed statement (Medical aid practice) or a VPriv statement name (any VPriv statement (Private practice). The V statement names are right at the bottom of the Select Layout File window.

To change back to your 14% statement in order to print a 14% statement in April for a patient who had treatment and was billed in March, simply reselect your previous 14% statement name from the Select Layout File window.

1. Steps for:

Practices charging Private Rates

The videos are for the following:

Video 1: calculate (for tax / SARS purposes) how much of the new price/fee would be profit & how much payable to SARS (VAT) i.e., for accounting purposes.

Video 2: we show you how to add a new 15% VAT statement to your Reports folder so that you can select it from within ExACT.

The videos do not automatically update your fees. For this, you need to use the Price Update Function (after you have made a backup) from within ExACT i.e., Treatment Codes, select Price Update in the bottom right corner, select 2018 Private fee table. Fill in the necessary fields: From code: click in field, click on list box, select first code. To code: click in field, click on list box, select last code. Percentage Direction: Up. How to handle the rounding: I want no rounding (if you don't want cents). To decimal: 0

Click OK

Practices charging Medical Scheme Rates

Instructions in video 1 and video 2. (for tax / SARS + accounting purposes and to change your statement to a 15% statement).

The videos do not automatically update your fees, Importer 9 is available for download in the sidebar on this page and below. Importer  9 should be downloaded only after you have made a working backup of ExACT. 

Both (Medical Schemes and Private Rates)

Instructions in video 1 and video 2. (for tax / SARS + accounting purposes and to change your statement to a 15% statement).

Price Update function in ExACT on your Private Fee table. (after you have done a working backup)
and
Importer 9  (after you have done a working backup).


2. VAT Increase

Dear ExACT Practice

The change to a 15% VAT rate should only be made in ExACT on 1 April 2018 or prior to charging your first patient on 1 April. The change to the 15% VAT RATE can also be made in ExACT on Friday, 30 March or Saturday, 31 March after billing your last patient for the month. Any patient billed on or after 1 April should be charged the new VAT rate of 15%. Plan to set out 30 or 31 March for your system VAT change as you will not be able to run 14% VAT Rate billing again once the system is updated to run the 15% VAT Rate. You will, however, be able to print a 14% statement billed / charged in the month of April should a March patient request their statement in April - video 2 (revised version of original video 2 - updated on 30 March) will show you how to switch between a 14% VAT statement and a 15% VAT statement.

2 short video clips on our website in the sidebar of this page will show you how to change the VAT in ExACT:

    • Video 1 will show you how to change the VAT in ExACT on your server computer.
    • Video 2 (version 2 - made easier) will address how to find your current statement name and replace your current patient statement showing 14% VAT with a new patient statement showing 15% VAT. It will show you how to switch between a 14% statement and a 15% statement during the month of April.
    • And lastly, audio updates (audio 1) on implications of the increase in VAT to medical schemes and revised tariff schedules will be displayed in the sidebar under video 2. Please browse to www.exact-net.com/vat frequently to view the latest updated news.

Step 1: (Video 1. Can't listen to video 1? The steps can also be found below).

The VAT change should be made in ExACT installed on your server computer and with all other workstations logged out of ExACT. Before making the changes in ExACT, please make a working backup of your exact32 folder located on your server. Our definition of a “working back-up” is a back-up that was restored and tested for functionality.

Once you have made a working backup, the first step is to change the VAT rate in ExACT on your server computer.

  • On the menu bar in ExACT, go to File, Treatment Codes.
  • On the Treatment Code list, highlight any code or type 8101 and press tab. It will highlight the 8101 treatment code.
  • Click edit (e|d) in the bottom right corner of the Treatment Code list window.
  • On the Edit Treatment Code window, click in the VAT Rate field (STD VAT), which currently has a standard VAT of 14%. Click on the list box next to the VAT Rate field, and click edit (e|d) in the bottom right corner of the View Category Items window and change your 14% VAT rate to a 15% VAT rate. Click OK. This change will automatically change all your treatment codes from a 14% to a 15% VAT rate.

Step 2:

The next step is to go to Setup on the menu bar, Accounting Interface and on the Accounting Interface window change the Rate % from a 14% to a 15% and click OK.


Step 3: (Video 2. Can't listen to video 2? The steps can also be found below).

The last step is to replace your current patient statement showing 14% VAT with a new layout showing 15% VAT. (Video 2). Can't listen to video 2? The steps can also be found below:

Since ExACT has several standard statement layouts, all the layouts need to be replaced. The .zip file available below and in the sidebar of this page under Downloads, contains the standard 15% statement layouts.

V File Statement Layouts 2018 .zip File Download

All these layouts say 15% VAT in the bottom right-hand corner of the layout.

When you extract this .zip file to your exact32/Reports folder on your server, it will allow you to select a new 15% VAT statement from Setup >> Printers >> Report Setups. On the Report Setups window that opens, scroll down to Statement. Next to the word Statement you will see your statement name. Identify your statement name, example, MedBb(POS)2, to the right of the word statement and write it down. Then double-click on the statement name, a small window will pop up called, Select Layout File. Scroll down to the bottom of the list on the small window and select a V statement name e.g., VMedBb(POS)2. If your current statement name is MedL(POS)2, select a new statement name, VMedL(POS)2. If you're unsure what to select or if your existing statement name doesn't look like any of the variations of the ones mentioned above, select any VMed statement if you're a medical aid practice, or select any VPriv statement if you're a private practice. There are also statements for specialists, such as a VPrivOrtho(POS) for orthodontists or VPrivPROS(POS) for prosthodontists. Call us if you are confused at this step: 021 987 2822.

If your practice uses a customized layout i.e., the statement name is your doctor's name, your practice name or something that identifies your practice, then you can send your statement to support@exactdental.co.za for editing to change it to a 15% VAT statement or you can simply select a new VMed statement or a VPriv statement from the Select Layout File window. You can also use the online chat on our website should you wish to request that a Support Partner contact you to replace your customized 14% VAT layout with an updated 15% VAT layout. Alternatively, send your request in writing to support@exactdental.co.za

  • Download the .zip file in the sidebar of the webpage. (accessible on desktop, not mobile/android).
  • Extract the statement layouts in the .Zip File to your exact32/Reports folder on your server computer and/or to all your workstations depending on where the reports pull/read from. This will save the new 15% VAT statement layout (showing 15%) to your Reports folder. This will then allow you to go into ExACT and select this statement from the Select Layout File window (Setup >> Printers >> Report Setups --> Report Setups window pops up >> Scroll down to Statement >> Double click on existing Statement name to change it to a new 15% VAT statement i.e., either a VMed Statement name (any VMed statement (Medical aid practice) or a VPriv statement name (any VPriv statement (Private practice).
  • To change back to your 14% statement in order to print a 14% statement in April for a patient who had treatment and was billed in March, simply reselect your previous 14% statement name from the Select Layout File window.

"The Council for Medical Schemes is a statutory body established by the Medical Schemes Act (131 of 1998) to provide regulatory supervision of private health financing through medical schemes". http://www.medicalschemes.com/