Pastel Partner meets SARS requirements
Software complies with stringent recommendations
The newest versions of the Pastel Partner and Xpress have met the requirements that a software accounting package must comply with in regards to the stringent SARS recommendations. SARS has specific requirements that states that all credit notes, debit notes and electronic tax invoices must meet specific conditions stated by the VAT act - Pastel Accounting version 11 meets these needs and more.
One of the most important requirements is that the pages are sent through in at least a 128-bit encryption format. The usual PDF just won’t do. When Pastel sends a document, it automatically encrypts it. This is easy to recognise as the PDF will have a tiny lock in the top left corner of the document.
Steven Cohen, managing director of Softline Pastel, had this to say regarding the new upgrades: "Most businesses transact electronically these days, but very few are aware of their obligations in terms of SARS requirements. It is critically important that all business owners, bookkeepers and accountants become au fait with what is expected in terms of electronic documents, and apply it before SARS clamps down, which could potentially result in hefty penalties and interest charges."
SARS requires many other conditions to be met, outside of the encrypted documents that Pastel provides. Pastel Partner will flag and record all emails that are sent out; it will also include all of the essential wording on original and follow-up documents. Another important fact to note is that all customers have to agree in writing that they wish to conduct their business via electronic documents. Pastel Accounting version 11 supplies a sample letter that vendors can now deliver to their customers.
MD of Pastel, Steven Cohen concludes by saying, "As Softline Pastel is a South African business, it's essential that our software is always up to date with local legislation. We are thrilled that we can now offer our clients peace of mind when it comes to the correct issuance of electronic tax invoice." Contact Pastel today to ensure that your Pastel accounting software is up to date, and meets with the requirements that SARS sets out.
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