When we talk about the application of the Saudi electronic invoice, we must remember that the future has come and that paper and ink will no longer be the same; a new era has come, with invoicing paper disappearing and being replaced by brilliant digital technology. It is an e-revolution emanating from the heart of the kingdom, with innovation and development, and reflecting a clear vision of the bright future; we therefore call upon you to replace the paper with pixels, pirate ink, and tradition with innovation, and to apply that invoice with the Qoyod program. It states that there is no need to stick to the past but to begin the journey to explore the unlimited possibilities offered by the Saudi Arabian electronic invoice in this article, so follow with us.
What are the benefits of applying the Saudi e-invoice?
The Saudi e-invoice application carries many importance and benefits; here are some of them:
Improve work efficiency.
The application of electronic invoices contributes to improving work efficiency and simplifying accounting and financial processes, as invoices are issued and traded automatically and quickly without the need for hard manual work.
Reduce tax fraud.
Electronic invoices are an effective mechanism to reduce tax fraud, as documented by the General Authority of Zakat and Tax, and allow better tracking and control of business operations, thus reducing the chances of tax evasion.
Facilitating tax collection
The electronic invoicing system facilitates the collection of taxes, documenting all business operations and financial transactions digitally, thus facilitating scrutiny, revenue verification, and outstanding taxes.
Improving transparency and confidence
The application of the Saudi electronic invoice increases the level of transparency and trust between companies, government agencies, and clients. All financial and tax details are documented in a digital and transparent manner.
Environmental protection
Using electronic invoices, paper usage is reduced and paper printing is needed; this contributes to environmental protection and waste reduction.
Prohibitions that must be avoided when issuing invoices
When applying the Saudi electronic invoice, there are several prohibitions that must be avoided. I will outline the main information on these prohibitions:
Issuing invoices that do not include the authority’s requirements
It must be ensured that the invoices comply with the applicable requirements of the authority, and the invoices must contain all the required data, such as the company name, tax number, and invoice date, in addition to details of the goods or service provided.
Manual invoice issuance
Manual invoicing should be avoided, as this can lead to a lot of human errors and the manipulation of financial information.
Using a system that is not compatible with the requirements of the electronic invoice issued by the authority
If you are using an electronic invoicing system, it must be compliant with the requirements of the electronic invoice specified by the authority, and the electronic system used must include all the required data and be able to issue invoices in a correct and recognized format.
The Importance of Using the Qoyod Program as an Approved Partner of the Zakat and Income Authority
Qoyod can be relied upon as an approved partner of the Zakat and Income Authority to facilitate the process of issuing electronic invoices in the Kingdom of Saudi Arabia, as the program provides the following:
Smooth integration.
Quyod integrates smoothly with your ERP system, which means you can use it with your current system without the need for major changes in the company’s infrastructure.
Customizable
Qoyod offers great customization flexibility, allowing you to adjust it to your company’s unique needs, and you can also configure it to suit your e-invoicing policies and ZATCA requirements.
Pre-validation of the electronic invoice
Qoyod provides the pre-verification feature of the electronic invoice in accordance with the requirements of ZATCA, as the program verifies the validity of the data included in the invoice and ensures compliance with the specified rules and regulations.
Easy integration with any ERP or POS system
Qoyod is easily integrated with any ERP system or POS system that you use, whether you use SAP, Oracle, or any other system, so you can easily link Qoyod with your current system and use it with it.
Full compliance with ZATCA requirements
Qoyod is committed to fully complying with the requirements of the Zakat and Income Authority (ZATCA), and the program ensures that all electronic invoices issued through it comply with the rules and regulations specified by ZATCA.
Trusted by large companies
Major companies trust the application of the Saudi electronic invoice by Qoyod program, and many local and international companies rely on it to manage electronic invoicing operations efficiently and effectively.
Dedicated support team
The Qoyod program is characterized by providing a specialized technical support team that provides assistance and technical support when needed, thus ensuring a smooth and stable experience when using the program and helping to solve any problems you may encounter.
Bulk generation for electronic invoices
Qoyod provides the feature of applying the Saudi electronic invoice in bulk, which facilitates and speeds up the process of issuing invoices when there are a large number of them.
Legal archiving according to the rules of the Kingdom of Saudi Arabia
The Qoyod program is characterized by the ability to legally archive invoices according to the requirements of the Zakat and Income Authority in the Kingdom of Saudi Arabia, thus ensuring compliance with applicable regulations and laws.
Protection against repeat invoices
This program provides a mechanism to prevent the recurrence of invoices, ensuring that there is no unintentional issuance of recurrent invoices, thus enhancing the accuracy and reliability of the invoicing process.
Capacity to create a PDF file using XML invoices
The program allows for the creation and easy printing of the PDF file containing the electronic invoices issued in the format of XML; this facilitates the sharing of invoices as well as their accessibility.
One control panel for electronic invoicing management
It also provides an easy-to-use interface and a single control board that enables users to manage and control electronic invoices easily. You can also issue, modify, send, and monitor invoices, as well as track payments, all through one central interface.
Electronic invoicing system in Arabic and English
Qoyod provides support for Arabic and English; this allows users to issue invoices and present them in their preferred language.
How does the Qoyod program issue electronic invoices compatible with the Zakat and Income Authority?
The Zakat and Income Authority in many countries aims to regulate laws related to taxes and zakat, including: issuing and implementing electronic invoices correctly; and it is worth noting that Qoyod issues electronic invoices that are compatible with the Zakat and Income Authority through the following:
Study the requirements of the authority.
Qoyod complies with the standards and laws specified by the Authority, such as encryption and digital signatures, as well as the necessary information required on the invoice, and thus the application of the Saudi electronic invoice in an acceptable format in accordance with the Authority’s standards.
Compliance with technical laws and standards
The program also adheres to the laws and technical standards specified by the authority; these standards include specific requirements for digital signatures, encryption, and data formatting, in addition to maintaining invoice records for a specified period of time.
Training and applying
Qoyod provides the necessary training for users who will use the program, and it is worth noting that this training is comprehensive and includes how to create and issue electronic invoices and deal with accounting data related to them.
Commitment to updates
The program remains in line with any updates or changes in the requirements of the Public Authority for Zakat and Income, as the program occurs on a regular basis, to ensure that it complies with the latest laws and standards.
In conclusion…
It seems clear that we live in a time of technological transformations and developments. The application of the Saudi electronic invoice is a bold and intelligent step that shapes a more transparent and efficient future in the business world. Instead of diving into old invoicings and dealing with overlapping data and human errors, we can now take advantage of modern technology to facilitate the invoicing process.
It is an opportunity to be free from hardship, excessive costs, and time and effort for both companies and individuals, so let us prepare for this transformation, adopt the electronic invoice as an innovative solution that will contribute to improving our work and facilitating our careers, support this digital revolution and benefit from its multiple benefits from a program of constraints, and be prepared to respond to the new opportunities that come our way.
Using the Qoyod program to implement the Saudi electronic invoice is the key to achieving efficiency, organization, and innovation in our daily work, and it is worth noting that the program offers all its customers: electronic invoice systems, as well as the point of sale system, stores, customers, etc., making it the best accounting program in the Arab world.
After knowing what the benefits of applying the Saudi e-invoice are, try Qoyod now for free for 14 days and take a bold step towards the future, as it is an accounting program that combines creativity and strength. It’s a time for change and progress; are you ready to receive it?
