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An Advanced & Secure Solution for e-Invoicing in Saudi Arabia
Algoras is one of the leading e-invoicing solution providers in KSA, offering an approved and integrated invoicing system with Zakat, Taxes and Customs Authority (ZATCA).
The digitalization of companies is a reality, which is why more than 80% of countries already use electronic invoicing in their companies due to the benefits that this entails. One of the latest countries to join the use of B2B e-invoicing is Saudi Arabia.
Electronic Invoicing was introduced in Saudi Arabia as an extension of the economic renaissance and digital transformation that Saudi Arabia has been witnessing with the intention of achieving positive results of raising the level of consumer protection and reducing hidden economy transactions.
The new system is part of the government's digital transformation initiatives marked in the Kingdom's Vision 2030 plan.
The Kingdom of Saudi Arabia (KSA) started focusing on several initiatives to digitalize the economy. The General Authority of Zakat and Tax (GAZT), merged with Zakat, Tax and Customs Authority (ZATCA), intended to introduce e-invoicing in Saudi Arabia and published a draft amendment on 17th September 2020 in line with Value Added Tax Implementing Regulations. The draft covered aspects of e-invoicing rules.
The Zakat, Tax and Customs Authority is implementing the second phase (Integration Phase) of e-invoicing starting from January 1, 2023, enforced in waves by targeted taxpayer groups. During this phase, taxpayers who are subject to the e-invoicing regulation must comply with all the requirements and integrate with ZATCA’s system.
On December 4, 2021, the first phase (Generation phase) was implemented, which required taxpayers subject to the e-invoicing regulation to generate and keep tax invoices or debit and credit notes, using electronic systems compatible with e-invoicing requirements.
E-invoicing | E-invoicing solutions | E-invoice |
|---|---|---|
Electronic procedure that aims to convert the issuing of paper invoices and notes into electronic process that allows the exchange and processing of invoices, credit, and debit notes in a structured format between the buyer and seller through an integrated electronic solution. | Online cash register, virtual cash register on tablets, e-invoicing software installed on a PC, e-invoicing software installed on phone or tablet and cloud-based solutions are examples of e-invoicing solutions. | An invoice that is generated in a structured electronic format through electronic means. A paper invoice that converted into an electronic format through coping, scanning, or any other method is not considered an electronic invoice. |
A compliant e-invoicing (Fatoora) system
Algoras, a complete business management system, now comes with an e-Invoicing (Fatoora) solution that will help you generate and manage e-Invoicing with ease. From generating e-invoices instantly to storing and keeping track of them through the e-invoicing report, we have taken care of every little detail to bring you the most delightful experience.
Algoras has all the requirements of electronic invoices for Zakat, tax and customs Authority.
Algoras is a Cloud ERP System specialized in the E-invoice of Zakat, tax and customs Authority required to support B2B and B2
E-invoicing Services
Ensure seamless integration between your accounting system or your POS with the servers of the Zakat, Tax and Customs Authority (ZATCA) Make Algoras your e-invoicing integration partner, and you'll be able to create e-Invoicing in minutes with 100 percent assured grade security. How Algoras Team will help? In an e-invoicing system the invoices, debit notes, credit notes are submitted to the ZATCA portal in the specified format for authentication. After successful authentication, the Universally Unique Identifier Number (UUID) and a QR code is generated and added to the invoice. This marks the invoice as a valid E-invoice that the seller can give to the buyer. Making it easy for you, Algoras standalone E-invoice Service is incorporated with all the necessary features ready to be integrated to any existing ERP or accounting system. Algoras Solution will help you simplify your entire e-invoicing process. Algoras Team is enabling e-Invoicing on its existing ERP platform to help businesses become e-Invoicing compliant with the lowest set-up time. • Ready to be integrate with Algoas or any other ERP
- Up-to-date Solution
- State of Art security & reliability
- Live SYC & Reporting
- Free Updates & Compliance as per changes in ZATCA