19 April 2024

Simplifying E-Invoicing in Saudi Arabia with QuickZeros Books

Introduction to e-invoicing in Saudi Arabia: How QuickZeros Books Can Help Your Business Stay Compliant

The Zakat, Tax, and Customs Authority (ZATCA) has officially recognized QuickZeros Books as a certified e-invoicing solution provider in Saudi Arabia. With e-invoicing becoming mandatory, businesses must adapt to this new system to comply with VAT regulations.

Saudi Arabia introduced VAT in 2018 at 5%, raising it to 15% in mid-2020 due to the pandemic. Now, the Kingdom is moving towards digitalization with e-invoicing, set to take effect on December 4, 2021.

This system is designed to streamline the invoicing process, enhance VAT compliance, and improve tax revenue. By ensuring standardized electronic invoice formats, e-invoicing increases transparency and eliminates invoice fraud by cross-verifying tax credits on the ZATCA portal.</p>

E-invoicing is a digital process where businesses submit invoices to the ZATCA portal for authentication before sharing them with customers. These invoices include all essential details like date, customer information, transaction amount, and VAT breakdown, along with additional fields for electronic compliance. e-invoicing saudi arabia applies to all resident taxpayers and third parties issuing invoices on their behalf in Saudi Arabia.

Phases of E-Invoicing Implementation

Saudi Arabia is implementing invoicing in two phases:

Phase 1 (December 4, 2021): All businesses must be able to generate, store, and edit e-invoices in specified formats.
Phase 2 January 1, 2023: Invoicing solutions must integrate with ZATCA’s CTC system for invoice authentication via the ZATCA portal before issuance.

How QuickZeros Books Supports Your E-Invoicing Journey

QuickZeros Books is designed to simplify the e-invoicing software process, ensuring businesses in Saudi Arabia can comply with ZATCA’s guidelines.

Here’s how QuickZeros Books helps:

1. Easy Setup

With a one-time setup, QuickZeros Books enables businesses to directly upload invoices to the zatca e-invoicing portal. You can personalize your invoices with QR codes and e-signatures, simplifying the authentication process and enhancing security.

2. Secure Access Control

In line with ZATCA’s guidelines, QuickZeros Books ensures security by enforcing strong, unique passwords and supporting multi-factor authentication for added protection.

3. Create and Manage E-Invoices

Intelligent Verification QuickZeros Books ensures all required fields are filled, verifying invoice accuracy and compliance before submission.
Bulk Processing: The system allows for the submission of multiple invoices in bulk, speeding up the authentication process.
Easy Adjustments: You can correct any errors by creating debit or credit notes as needed.

4. Compliance and Record Keeping

QuickZeros Books ensures transaction records are securely stored for the required 5-year retention period. It also safeguards invoices, timestamps, and log entries, ensuring full compliance with ZATCA’s regulations.

Stay Ahead with QuickZeros Books

invoicing is a significant shift for businesses in Saudi Arabia, and QuickZeros Books is here to make that transition as smooth as possible. By adopting QuickZeros Books, you can issue compliant, paperless invoices and stay ahead in this new digital era.

Want to learn more? Join our free webinars, check out our detailed guides, or contact our support team at support@QuickZeros.com for early access and personalized assistance.

Meta Description: Learn how QuickZeros Books simplifies invoicing in Saudi Arabia, ensuring compliance with ZATCA’s guidelines. Explore features like bulk invoicing, smart validation, and secure access control.