Who should opt for e-invoicing?
E-invoicing in KSA applies to all taxable goods and services subject to VAT (both standard and zero rates). Therefore, by default, all VAT registered businesses need to generate e-invoices and comply with the ZATCA regulations. Furthermore, companies that are not registered yet but are required to register must also adhere to the e-invoicing guidelines.
Apart from businesses, the following individuals fall under the scope of the e-invoicing regime:
- Any taxable person who is a resident in KSA.
- Any customer or any third-party who issues a tax invoice on behalf of the taxable person who is a resident in KSA according to the VAT regulations.
What are the benefits of e-invoicing?
E-invoicing would be a game-changer for your business for the following reasons:
- E-invoices could be issued online quickly and are visible in real-time, empowering businesses with faster data exchange.
- Rendering fraudulent bills is almost impossible as the authenticity is validated on the official platform.
- Automation reduces human intervention, leading to fewer incorrect or incomplete documents.
- Digital invoicing saves expenses on materials and human resources, which significantly lowers the operational costs.
- On-time payments would increase as e-invoices could be sent to the customers immediately.
Unsure how to get started and whom to rely on for e-invoicing?
The new system would require careful navigation that only reliable software from a trusted vendor could provide.
Focus Softnet was one of the earliest ERP and accounting software providers who have helped businesses navigate the complex terrain of the VAT regime when it was introduced in 2018. Our accounting and financial software has been widely used by enterprises and SMEs to simplify the entire VAT computation and filing process.
Still using SAP ERP without e-invoicing system?
Seamlessly integrate it with our standalone e-invoicing system to prevent duplication and manual processing errors. It would allow you to automate the invoicing process and take control over every invoice issued.
Our e-invoicing solution is cost effective and ready to integrate with your SAP ERP or other existing ERPs. With the SAP-ready e-invoicing system, you could define the formats you want to send or receive the invoices or alter them when necessary. This makes managing invoice formats for customers and suppliers much easier and hassle-free. You no more need to manually create invoices or worry about processing errors; e-invoicing integration would save time and increase the efficiency of the process.
