Learn about mandatory e-invoicing
Transparent trade is the principal rule of most companies. Seamless cooperation is perceived as professional, not only by business partners, but also by governmental bodies. Therefore, ZATCA – the major regulating authority in the Kingdom of Saudi Arabia – has rolled out mandatory e-invoicing that affects all taxable residents. Find out crucial facts.
Effective management of your business
Since December 2021 taxable business owners are no longer allowed to generate, store and archive invoices in traditional paper format. The main goal of ZATCA e invoicing was to create a system that would standardize the way documents are reported. As a result, taxpayers benefit from this machine-readable format by optimizing internal business processes.
ZATCA’s requirements
E-invoicing software became sought-after by the representatives of diverse businesses. They were searching for a solution that would comply with the rules and was easy to issue invoices quickly in real time. The e-invoicing suite was launched – the product of talented and experienced team of Infinite IT Solutions. It fulfills all regulations imposed by ZATCA, which means that invoices:
- are accessible online,
- comply with security and cybersecurity requirements,
- are generated in format that is compatible with government system,
- are accessed by external systems,
- are consistent with control mechanisms that guarantee the authenticity.
The KSA’s e-invoicing process is called FATOORAH and is applicable to B2B, B2C, and B2G transactions. It applies to all taxable goods and services that are subjected to VAT, including the one with zero rate.
What are the benefits of e-invoicing?
The e-Invoicing Suite offered by Infinite IT specialists is fully compliant with Saudi Arabian law and serves as an easy-to-use platform for all B2B transactions. Numerous in-built functionalities allow for effective management that significantly boost business processes.
The Suite is tailored to your needs and its implementation will take from 2 to 6 weeks, depending on your business specifications. With such features as data validation, format conversion and electronic signature, you can expect faster processing of invoices, as well as quick and secure data exchange.
Cost-effective solution for large business
E-invoicing platform will definitely cut your administrative costs. Not only you will save finances on postage, but also reduce the use of paper of 50% on average. That is a great message for those who support the green solutions for environment.
Going digital with invoicing will guarantee faster flow of documents, which will be followed by on-time payments. You will be able to manage your company’s budget more effectively. What is more, thanks to automation you will remove human error, which again translates into faster processing.
With e-Invoicing Suite, you can turn your company into a prospering business and meet the regulations of ZATCA. If you aim at effective implementation, choose Infinite as your trustworthy and solid partner in business.
Effective management of your business
Since December 2021 taxable business owners are no longer allowed to generate, store and archive invoices in traditional paper format. The main goal of ZATCA e invoicing was to create a system that would standardize the way documents are reported. As a result, taxpayers benefit from this machine-readable format by optimizing internal business processes.
ZATCA’s requirements
E-invoicing software became sought-after by the representatives of diverse businesses. They were searching for a solution that would comply with the rules and was easy to issue invoices quickly in real time. The e-invoicing suite was launched – the product of talented and experienced team of Infinite IT Solutions. It fulfills all regulations imposed by ZATCA, which means that invoices:
- are accessible online,
- comply with security and cybersecurity requirements,
- are generated in format that is compatible with government system,
- are accessed by external systems,
- are consistent with control mechanisms that guarantee the authenticity.
The KSA’s e-invoicing process is called FATOORAH and is applicable to B2B, B2C, and B2G transactions. It applies to all taxable goods and services that are subjected to VAT, including the one with zero rate.
What are the benefits of e-invoicing?
The e-Invoicing Suite offered by Infinite IT specialists is fully compliant with Saudi Arabian law and serves as an easy-to-use platform for all B2B transactions. Numerous in-built functionalities allow for effective management that significantly boost business processes.
The Suite is tailored to your needs and its implementation will take from 2 to 6 weeks, depending on your business specifications. With such features as data validation, format conversion and electronic signature, you can expect faster processing of invoices, as well as quick and secure data exchange.
Cost-effective solution for large business
E-invoicing platform will definitely cut your administrative costs. Not only you will save finances on postage, but also reduce the use of paper of 50% on average. That is a great message for those who support the green solutions for environment.
Going digital with invoicing will guarantee faster flow of documents, which will be followed by on-time payments. You will be able to manage your company’s budget more effectively. What is more, thanks to automation you will remove human error, which again translates into faster processing.
With e-Invoicing Suite, you can turn your company into a prospering business and meet the regulations of ZATCA. If you aim at effective implementation, choose Infinite as your trustworthy and solid partner in business.
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