Large companies and institutions in various parts of Saudi Arabia need to activate one of the most powerful accounting programs adopted by the Zakat and Income Authority to help them create electronic invoices linking their dealings with different customers and maintain their financial records for later periods of need.
The technological boom in the field of accounting is accelerating, as the accounting software approved by the Zakat and Income Authority represents the crucial link between businesses and their customers, as its use enhances the ability of companies to comply comprehensively with tax and accounting controls and regulations.
You can choose one of the accounting programs approved by the Zakat and Income Authority in the Kingdom of Saudi Arabia from many options, where we will mention a group of them below, and we praise you for the best ones, so that you can apply its system and benefit from its many advantages.
Requirements for the approval of accounting programs by the Saudi Arabian Zakat and Income Authority
The accounting programs approved by the Zakat and Income Authority are subject to all of their requirements, the most significant of which are as follows:
- The ability of the program to connect directly to the Internet, enabling users to access accounting data easily and securely from anywhere,.
- The program includes a unique encryption function for each electronic invoice created through it in order to protect commercial data and ensure invoice ownership.
- Include electronic invoices on the QR code for easy reading.
- The program’s ability to achieve advanced connectivity with external systems using the application programming interface (API) and the Software Development Fund (SDK) to achieve high flexibility in work.
- The ability to detect and prevent any attempt to hack or access the data quickly and in a timely manner is necessary to ensure the confidentiality of the financial statements.
- Restrictions on the modification and deletion of data after electronic invoices are issued ensure the accuracy and stability of accounting records and prevent manipulation of their content.
- The ability to create a unique identification number for each electronic invoice using UUID technology.
- The ability to print out a copy of the electronic invoice as a pdf or xml.
Prominent accounting programs adopted by the Zakat and Income Authority
There are a number of accounting programs approved by the Saudi Arabian Zakat and Income Authority that are designed to comply with all of its requirements and provide the means of properly establishing electronic invoices within the established conditions. The most notable of these are the following:
Qoyod Accounting Program
The Qoyod cloud accounting program is one of the strongest accounting programs approved by the Saudi Arabian Zakat and Income Authority because it follows all of its main requirements, namely:
- The Qoyod e-Invoicing Program adopted in the Kingdom of Saudi Arabia is capable of storing and managing financial records in accordance with the local laws of the country, including asset and liability records, ledgers, and cash transactions.
- Qoyod Accounting Program is one of the accounting programs approved by the Zakat and Income Authority and integrated with other accounting and tax systems, making it easy to use and quick to respond to new transactions for companies and institutions.
- The Koyod program provides very robust programming, designed with the assistance of experts in the field, to ensure the security of financial data and information within it, as well as advanced technical means to verify user identity and digital signatures of invoices to ensure the confidentiality and integrity of the financial statements.
- Qoyod is a strong and positive accounting program for companies and enterprises, as it allows users to establish certified and comprehensive invoices and maintain data records for a limited period.
- One of the accounting programs approved by the Saudi Arabian Zakat and Income Authority has been successful in creating electronic invoices in comprehensive and integrated formats containing all the elements that the Authority has developed in the electronic invoice data dictionary issued by Saudi Arabia.
- The program assists companies in studying their profits and determining their sales delegate’s commissions, and also includes a cost centre that provides tools for analysing revenues and costs, and sales to ensure significant profits each year.
- The program enables users to e-mail clients, in addition to offering prices for new products as quickly as possible and paying their bills in comprehensive forms with the required details and financial statements.
- Through the Qoyod program within the accounting programs approved by the Zakat and Income Authority, the powers of users can be determined based on the job position and the powers available to each user, which contributes to securing the system and preventing unauthorized modification.
- The accounting program is keen to have various points of sale, which enables you to monitor the performance of your company’s branches and manage their users easily, in addition to controlling point of sale users who have the powers to modify product prices and control cash fund accounts.
- The Qoyod accounting program allows for the determination of the terms of reference for discounts that can be made to customers, the establishment of discount ratios for each client, and the ability to identify and present users who can perform such discounts.
- The program supports the API connection service, which facilitates the connection of your electronic store to the accounting system and the recording of automatic invoices.
- Qoyod provides a reminder service as well as a correspondence scheduling service, which in turn enables companies to pre-date their clients and complete payments on time without any significant delay.
- The program includes an electronic document attachment service, such as bonds and bank transfer pictures, the client’s business register, and sales invoices, which ensures that all sectors maintain their own records and have easy access to them at a later date.
- Ensures that invoices are paid in full or in part with detailed documentation and internal classification by cash or bank accounts approved as means of payment, thus facilitating the organization of payments.
- Assists in the accurate maintenance of the record of financial activities by adding, modifying, approving, and issuing invoices, thus facilitating the effective review of the financial record at any time.
- It would be preferable to adopt an advanced accounting program that would enable users’ powers to be determined based on the functional position and powers available to each user, thereby contributing to the security of the system and preventing unauthorized modification.
- Qoyod provides accounting consulting from highly experienced accounting service providers, thus contributing to the preparation of installations, easy management of accounts, and easy creation of invoices.
- Qoyod helps manage the company’s branches or stores from one location, as multiple bills and fields can be created based on the number of warehouses, so-called surveillance, and tracking of their financial details very easily.
Vom Accounting Programme
Vom Accounts is one of the accounting programs approved by Zakat and the Income Authority, applying all accreditation requirements, including an easy-to-use interface that allows users to manage accounting processes and prepare financial reports.
The program also provides programming to ensure that its users create electronic invoices, as well as direct and electronic links with banks and other accounting programs, and its professional technical team provides periodic updates to the program to ensure that clients’ needs are met and that the necessary developments in the accounting world are kept up to date.
It allows companies to experience its leading advantages of free-of-charge financial operations control for seven days with high-quality accounting services, which provides a marked improvement in the quality of accounting operations and financial reports of companies and enterprises.
Oracle Accounting Program
The Oracle Accounting Programme provides an opportunity to establish a single enterprise-level core accounting system, which will contribute to streamlining accounting processes and increasing the accuracy of forecasting to help companies make sound financial decisions, making it an accounting program approved by the Zakat and Income Authority.
Oracle enables current investments to be held in place efficiently, as well as to link with the company’s current diversified financial systems, enabling you to move to ERP in the cloud without disrupting the current financial fundamentals, thus enabling operations to be developed without negatively affecting performance.
In conclusion…
You have the option to select and test one of the accounting programs approved by the Saudi Arabian Zakat and Income Authority during the free period provided by each of them and to decide to select the best of them in accordance with your accounting system.
Make sure that the accounting program you choose provides all the requirements that the Zakat and Income Authority is looking forward to, from its support for the electronic invoice in all its elements, as well as its secure system and maintaining data confidentiality, in addition to the ability to manage costs and revenues and monitor the company’s financial performance to ensure that it achieves rewarding profits.
Qoyod Cloud Program is one of the accounting programs approved by the Zakat and Income Authority in the Kingdom of Saudi Arabia, which provides in its design comprehensive accounting services for all financial transactions and data records needed by the company for financial accounting and management accounting as well.
Try Qoyod now and take your accounting department to a better level in managing financial transactions.
