How Can Forbytes Help?
Automate invoice generation
The e-invoicing software for Saudi Arabia businesses allows for automated invoice generation. An e-invoice will contain all necessary fields and specifics, such as QR code, public key, cryptographic stamp, etc. You will also be able to create templates, customize them, and generate tax e-invoices in 2 languages — Arabian and English.
Achieve 100% compliance
Electronic invoicing solutions in the Kingdom of Saudi Arabia should fully meet the requirements issued by Zakat, Tax and Customs Authority (ZATCA). Our software engineering team builds automation tools in compliance with regulations by KSA and tax authorities, adding all mandatory details and following strict technical requirements.
Cut operation costs
The introduction of e-invoicing in Saudi Arabia, known as Fatoorah, can be a huge challenge for non-tech industries. It requires investment and effort, but it also can become a precious opportunity for cost reduction. You’ll minimize bureaucracy in your organization and get access to a simplified tax invoice as well as insightful reporting features that can affect your budget planning.
Connect with ZATCA’s Fatoora portal
Non-compliance with ZATCA regulations results in penalties and business damage. The Forbytes team will build an integrated electronic solution that will connect with the Fatoora portal via API. The process of electronic invoice generation and sharing will be fully automated, and you will be informed about the e-invoice verification and validation by ZATCA.
Connect with your ERP and other systems
Forbytes engineers will integrate the e-invoice software with your ERP, PoS, or other systems that you use. This will ensure that your data is consistent across all channels and updated in real time. Our team builds e-invoicing systems for Saudi Arabia that ease cooperation with partners, suppliers, and clients, increase transparency, and reduce paperwork associated with manual invoices.
Manage data easily
The e-invoicing regulations say that all invoices should be stored electronically. To manage tax invoices effectively, businesses need an intuitive invoice management dashboard. Forbytes creates easy-to-use and secure tools for e-invoice management where you can filter, modify, and store tax invoices as well as archive them with no limits.
Benefits of Electronic Invoicing in KSA
Electronic invoicing in Saudi Arabia gives the government better visibility of the market situation. They generate insights on how to improve the business environment to promote fair competition and protect businesses and customers on the legal level.
No shadow business
Transparency is the foundation of healthy economic growth. With electronic invoicing, KSA will eliminate the evidence of shadow business. Since an e-invoice in Saudi Arabia will be verified on the legal level, it will also enable the authorities to detect fake invoices and minimize fraudulent activity in the market.
The best international practices encourage countries to adopt the procedure of electronic invoice generation. Saudi Arabia strives for digital growth and uses electronic invoicing as a means to get full control of the movement of tax transactions, services, and products in real time.
Easier B2B and B2C cooperation
It takes a lot of time for managers to create and spread paper invoices. Electronic invoices in Saudi Arabia will help resident taxpayers quickly access data. In no time and with minimal effort, businesses can exchange simplified e-invoices with each other and reduce slip-ups.
Here’s How We Add Value
Our team of e-invoicing software developers offers an all-in-one service to Saudi Arabia businesses. Our cooperation can start with a consulting stage and grow into full-cycle software development followed by our technical support and software maintenance services.
We leverage highly secure technologies in electronic invoicing solution development. All your data will be protected from third-party breaches and malfunctions. Our team will also implement an effective data backup strategy and multi-level user access to the e-invoicing system.
Forbytes software engineers have vast experience in developing business management software that includes invoice management features and streamlines business operations. Our clients use custom systems to cooperate with suppliers, share simplified tax invoices, manage orders, etc.
From January 2023, it’s mandatory to introduce electronic invoice generation for all resident businesses. We will do our best to launch the project in the shortest terms to timely provide you with a quality product. We will also regularly improve the solution and add new features based on your feedback.
Is e-invoicing mandatory for B2B transactions?
An electronic invoice in KSA is mandatory for all resident tax-paying businesses and should be generated for all B2B, B2C, and B2G electronic transactions. The regulation also affects third-party businesses that work with Saudi-based businesses that are subject to VAT. Third-party businesses should also issue such invoices.
How to implement e-invoicing in Saudi Arabia?
You need to find an invoice service provider that will offer all the features needed for convenient business operations at a reasonable price. If you want to avoid regular fees, you can build a tax invoice management system on your own. Carefully choose a software engineering company for this purpose. Your partner must be well acquainted with the Saudi Arabian context and ZATCA’s requirements for invoice generation software.
What are the requirements for e-invoice software in Saudi Arabia?
Here are some of the e-invoicing requirements. Electronic invoices for Saudi Arabia should be generated in a structured electronic format: UBL- XML or PDF with embedded XML. For all B2B electronic invoices, it’s mandatory to include a digital signature. An electronic invoice must contain a Universally Unique Identifier (UUID) issued by the ZATCA portal after the verification. If we talk about printed invoices, these must contain a scannable QR code. QR code will be used to scan and verify the authenticity of an invoice. During the consultation, we can talk about the requirements for an e-invoice in Saudi Arabia in more detail.