Understanding ZATCA E-Invoicing
Saudi Arabia's new resolution aims that all VAT-registered businesses to transition from handwritten and paper invoices to electronic invoicing systems that are compatible with ZATCA's requirements.
Invoices must be created and transmitted electronically through the ZATCA platform to ensure tax compliance, accuracy, and transparency. The system allows for real-time tracking and reporting, simplifying financial operations for businesses and enhancing government oversight. Non-compliance may result in penalties or fines.
Features of ODOO E-invoicing
ZATCA Compliance
Our e-invoicing software ensures full compliance with ZATCA regulations, helping you generate, send, and store e-invoices in the required format. Stay penalty-free and compliant with ease.
Easy Integration and User -Friendly Interface
Our software integrates easily with your existing accounting and ERP systems, ensuring a smooth transition. Its intuitive design means your team can start using it right away, saving time and reducing errors.
Improved Efficiency and Real-Time Tracking
Automate your invoicing process to save time, reduce errors, and speed up workflows. Track invoices in real time and stay updated with instant notifications so that clients receive and acknowledge your invoices.
Safer Data Management
We use advanced encryption and secure cloud storage to keep your financial data safe and sound.
Cost Savings
Electronic invoicing eliminates the costs associated with paper, printing, and shipping. By opting for electronic invoices, you not only contribute to a greener environment but also save money.
Customizable Templates
Manage employee benefits and track expenses efficiently. The software helps you handle health insurance, retirement plans, reimbursement requests, and more. It ensures that benefits are processed correctly and that expense claims are handled smoothly.
Document Management
Customize your invoices with templates that reflect your brand. Add your logo, choose colours, and create a professional look.
Training, Onboarding and Customer Support
From training to ongoing support, we’re with you every step of the way. Our team ensures a smooth transition and is always ready to assist.
Two Phases of ZATCA E-Invoicing
1. Zatca E Invoicing Phase 1
The first phase, referred to as the integration phase, marks a critical step in adopting the new e-invoicing system. Launched on December 4, 2021, this phase focuses on integrating the systems and processes businesses use with the ZATCA platform. Its primary objective is to ensure all invoices are generated and transmitted in compliance with ZATCA standards. While this phase is relatively lenient in terms of strictness, it sets the foundation for the more stringent requirements of the second phase.
2. Zatca E Invoicing Phase 2
The second phase, which was implemented on January 1, 2023, focuses on integrating taxpayers and other entities with the ZATCA e-invoicing portal. Taxpayers are informed of this phase six month prior to its implementation. This phase introduces advanced security features, such as cryptographic stamps (e-signature), UUID, and hash, to enhance invoice security. For B2B transactions, generating a QR code in XML format is now mandatory. Furthermore, all invoices must be uploaded to the e-invoice portal within 24 hours of being issued. Taxpayers must adhere to the technical and business requirements specified on the ZATCA website.
Why Choose Our ZATCA-Compliant E-Invoicing Solution?
The Saudi Arabian government is implementing a law to tackle tax evasion and illegal activities by requiring ZATCA (The Zakat, Tax and Customs Authority) compatible e-invoicing software. ZATCA’s two-phase plan aims to enhance tax compliance for businesses.
At Veuz Concepts, we build ZATCA-approved invoicing solutions using Odoo, ensuring your system meets all requirements for secure and efficient payment tracking. Our software is user-friendly and tailored to your needs, simplifying compliance, especially for Phase 2. Navigating ZATCA e-invoicing can be challenging, but we make it easy, helping you overcome technical and business hurdles effortlessly.
Stay updated with our multitude of features: ODOO E-invoicing
It's important to stay updated about Saudi's new e-invoice system. It is critical that you exercise thorough research for its applicability and thoroughly test it so that you do not run into any issues when the system is deployed.
Our software of ZATCA e-invoicing in Saudi Arabia can be the perfect solution for your business. We don't just focus on the efficacy of the system but also your ease of use and other features that will be tailored to your requirement.