E-invoicing in KSA
The world is going digital, and to keep up with the trend of Digitalization, companies are becoming E-Commerce giants. Governments are increasingly going digital in order to reap the benefits of digitization. The Kingdom of Saudi Arabia has also begun its journey toward electronic invoicing and reporting. What does e-invoicing mean by the way? Traditionally, invoices are issued by hand or generated on paper by computers, etc., however, now, the invoices are generated in a structured electronic format which is known as electronic invoicing (e-Invoicing). Please note, that a handwritten or scanned invoice, for example, is not an E-Invoice. Neither data in PDF or Word format are called E-Invoices either.
Overview of KSA E-invoicing
On May 28, 2021, ZATCA (Zakat, Tax, and Customs Authority) published guidelines and standards regarding the implementation of the E-invoicing solution. Guidelines include terms, conditions, and requirements for E-Invoicing and Electronic credit and debit notes. This includes; all E-invoices must be in UBL-based XML format.
E-Invoicing Solution
Phase 2 of E-invoicing is the integration phase, which will be implemented in stages beginning January 1, 2023. This phase includes the technical requirements and the ZATCA linkage process. In these times, businesses need a verified platform who can integrate their ERP systems with ZATCA Compliant Platform. Well, the search ends here!
Rockford Computer is an ERP Solution Leader that specializes in providing e-invoicing solutions to businesses. How can Rockford Computer help you in this regard? Let’s have a look to it.
With our e-invoicing solution:
- We will connect the taxpayer’s system for issuing invoices and notes with the ZATCA system in order to share data and information.
- For each E-Invoice or note, the taxpayer will be able to generate a cryptographic stamp.
- Will create a Universally Unique Identifier (UUID) in addition to the invoice sequence number.
- Will install certain features that will allow it to save and archive E-Invoices.
- Anti-tampering features will be implemented.
- Create a hash for the issued E-Invoices.
What does our Solution Provide?
Apart from fulfilling all the ZATCA’s lawful requirements, our e-invoicing solution also offers you the following benefits in real time.
Ready connectors for SAP, Oracle and other ERP systems
- Convenient ways to integrate –API (Application Programming Interface), SFTP and other data exchangers
- Organization Hierarchy, Users & Roles Management
- Full audit trail of data imports and data flows
- Vendors Auto-Fill & Product Auto-Fill options
- Document validations as per ZATCA’s e-invoicing data dictionary
- Document generation in Arabic as well as English language
- Option of cloud as well as on premise.
Our technical expertise provides Rockford Computer a competitive edge in implementing new solutions for corporations quickly and effectively. Therefore, in terms of any query related to e-invoicing solution, don’t hesitate in just giving us a call
