Accounting & Bookkeeping · Saudi Arabia
Accounting & Bookkeeping Services in Saudi Arabia
Saudi businesses must maintain accounting records compliant with SOCPA standards and IFRS as adopted in KSA, supporting ZATCA Zakat, VAT, and Corporate Income Tax filings.
Overview
Fintax Support Limited provides monthly bookkeeping in SAR on Odoo, Zoho, and QuickBooks, reconciling local bank accounts and coding transactions for VAT at 15% and Zakat-deductible expenses. We prepare FATOORA-compliant invoice records, GOSI payroll journals, and management accounts that feed directly into your ZATCA annual returns and SOCPA audit requirements.
Key compliance areas in Saudi Arabia
06 areas- ZATCA Zakat & income tax
- VAT 15%
- FATOORA e-invoicing
- GOSI
- IQAMA
- transfer pricing
Regulatory framework
ZATCA requires businesses to retain accounting records for a minimum period under Saudi tax law and maintain FATOORA-compliant e-invoicing records for all B2B and B2C transactions. GOSI contributions must be calculated and remitted monthly for Saudi and eligible non-Saudi employees. SOCPA-regulated entities must prepare audited financial statements annually.
ZATCA (Zakat, Tax and Customs Authority)Key facts
- MonthlyGOSI contributions
- AnnuallyAudited statementsfor SOCPA-regulated entities
10 specialised services
Our Accounting & Bookkeeping services in Saudi Arabia
On this page (10)
- ZATCA-Compliant Bookkeeping & Record-Keeping
- IFRS Financial Statements (SOCPA-Endorsed)
- VAT Input/Output Tracking & Reconciliation
- FATOORA E-Invoicing Integration
- Bank & Credit Card Reconciliation
- Zakat Base Calculation Preparation
- Monthly & Quarterly Management Accounts
- Cloud Accounting Setup (Zoho, QuickBooks, Odoo)
- Multi-Entity & Group Bookkeeping
- Outsourced CFO & Financial Controller Services
01 / 10
ZATCA-Compliant Bookkeeping & Record-Keeping
Maintain accounting records that meet ZATCA (Zakat, Tax and Customs Authority) requirements for Zakat, VAT, and Corporate Income Tax compliance across Saudi LLCs, joint stock companies, and MISA-licensed entities. ZATCA-compliant bookkeeping ensures every transaction is documented, coded in SAR, and retained for the statutory ten-year period so your business is audit-ready at all times.
Ten-year record retention
Arabic record compliance
SAR functional currency
Digital document storage
How it works, details and FAQsShow less
How it works
- 01
Compliance assessment
Review your CR status, ZATCA VAT and Zakat registration, ownership structure, and current record-keeping gaps.
- 02
Chart of accounts setup
Configure SOCPA-aligned accounts in SAR with VAT, Zakat, and WHT coding dimensions for KSA operations.
- 03
Daily transaction recording
Post sales, purchases, expenses, and payroll with supporting documentation attached to each ledger entry.
- 04
Retention and audit readiness
Archive records per the ten-year retention requirement and prepare monthly compliance checklists for ZATCA filings.
- 01
Compliance assessment
Review your CR status, ZATCA VAT and Zakat registration, ownership structure, and current record-keeping gaps.
- 02
Chart of accounts setup
Configure SOCPA-aligned accounts in SAR with VAT, Zakat, and WHT coding dimensions for KSA operations.
- 03
Daily transaction recording
Post sales, purchases, expenses, and payroll with supporting documentation attached to each ledger entry.
- 04
Retention and audit readiness
Archive records per the ten-year retention requirement and prepare monthly compliance checklists for ZATCA filings.
ZATCA requires all VAT-registered and Zakat-liable businesses to maintain complete accounting records that accurately reflect every transaction. Under Saudi tax law, records must be retained for at least ten years from the end of the relevant tax period and be available for ZATCA inspection on request. Records must be maintained in Arabic or in a bilingual format acceptable to Saudi authorities, with SAR as the functional currency for most KSA entities. We configure bookkeeping workflows for MISA-licensed foreign investment entities, wholly Saudi-owned companies, and mixed-ownership structures where Zakat and Corporate Income Tax obligations coexist. Digital storage of FATOORA e-invoices, contracts, bank statements, and payroll records supports ZATCA tax audits, SOCPA statutory audits, and Ministry of Commerce CR renewal requirements.
Common questions
02 / 10
IFRS Financial Statements (SOCPA-Endorsed)
Prepare financial statements under IFRS as endorsed by SOCPA — the mandatory standard for Saudi companies supporting ZATCA Zakat and Corporate Income Tax filings, statutory audits, bank covenant reporting, and Tadawul disclosure requirements with SAR as the presentation currency.
IFRS endorsed by SOCPA
Primary financial statements
SAR presentation currency
Statutory audit readiness
How it works, details and FAQsShow less
How it works
- 01
Accounting policy documentation
Document IFRS accounting policies for revenue recognition, leases, zakat provisions, and fixed assets per SOCPA guidance.
- 02
Trial balance and adjustments
Post year-end accruals, depreciation, impairment assessments, and deferred tax provisions under IFRS.
- 03
Financial statement preparation
Compile primary statements and notes covering related-party transactions, segment reporting, and contingencies.
- 04
Director approval and filing
Present draft statements for board sign-off and coordinate with SOCPA-licensed auditors for statutory submissions.
- 01
Accounting policy documentation
Document IFRS accounting policies for revenue recognition, leases, zakat provisions, and fixed assets per SOCPA guidance.
- 02
Trial balance and adjustments
Post year-end accruals, depreciation, impairment assessments, and deferred tax provisions under IFRS.
- 03
Financial statement preparation
Compile primary statements and notes covering related-party transactions, segment reporting, and contingencies.
- 04
Director approval and filing
Present draft statements for board sign-off and coordinate with SOCPA-licensed auditors for statutory submissions.
Saudi companies must prepare financial statements under IFRS as endorsed by SOCPA, with SAR as the functional and presentation currency. Listed Tadawul companies and CMA-regulated entities face additional SOCPA disclosure requirements. IFRS-compliant statements support ZATCA Zakat and Corporate Income Tax filing, Ministry of Commerce CR renewal, and bank covenants. We prepare the full suite of primary statements — financial position, profit or loss, cash flows, and changes in equity — with notes covering IFRS 15 revenue, IFRS 16 leases, and zakat-related adjustments. For mixed-ownership entities, statements clearly support Zakat base computation and Corporate Income Tax profit allocation to foreign shareholders.
Common questions
03 / 10
VAT Input/Output Tracking & Reconciliation
Code every transaction for Saudi VAT at 15% standard, zero-rated, exempt, or out-of-scope treatment with accurate input and output tax tracking for ZATCA VAT return filing. VAT-ready accounting handles reverse charge on imported services and cross-border supplies so your recoverable input tax is maximised within ZATCA rules.
Output tax tracking
Input tax recovery
Reverse charge mechanism
VAT return readiness
How it works, details and FAQsShow less
How it works
- 01
VAT coding framework
Configure nominal accounts and tax codes for standard 15%, zero-rated, exempt, and reverse charge transactions.
- 02
Transaction classification
Code daily sales and purchases with correct VAT treatment including export supplies and GCC cross-border transactions.
- 03
Input tax apportionment
Calculate recoverable input tax where the business makes both taxable and exempt supplies.
- 04
VAT return reconciliation
Reconcile output and input tax accounts to VAT return figures before ZATCA portal filing.
- 01
VAT coding framework
Configure nominal accounts and tax codes for standard 15%, zero-rated, exempt, and reverse charge transactions.
- 02
Transaction classification
Code daily sales and purchases with correct VAT treatment including export supplies and GCC cross-border transactions.
- 03
Input tax apportionment
Calculate recoverable input tax where the business makes both taxable and exempt supplies.
- 04
VAT return reconciliation
Reconcile output and input tax accounts to VAT return figures before ZATCA portal filing.
Saudi VAT at 15% applies to most domestic supplies, with zero-rated treatment for exports and certain categories including international transport. Exempt supplies — financial services, residential rent, and bare land — restrict input tax recovery on related costs. Businesses must track output tax collected and input tax paid, filing returns through the ZATCA portal within prescribed deadlines. Reverse charge applies to imported services and cross-border transactions, requiring self-assessment of output VAT with corresponding input recovery. We configure your accounting system to classify every transaction correctly — including FATOORA-linked B2B supplies, exports, and inter-GCC transactions — ensuring VAT return boxes reconcile from your general ledger with ten-year retention records.
Common questions
04 / 10
FATOORA E-Invoicing Integration
Integrate your accounting system with ZATCA's FATOORA Phase 2 e-invoicing platform for real-time invoice clearance, cryptographic stamping, and ledger reconciliation. FATOORA integration ensures B2B and B2C invoices comply with ZATCA XML/JSON standards and reconcile to your general ledger for VAT return filing.
FATOORA Phase 2 compliance
Accounting system integration
ZATCA sandbox testing
E-invoice record retention
How it works, details and FAQsShow less
How it works
- 01
Integration assessment
Review your ERP or accounting platform, invoice volumes, and current FATOORA compliance status with ZATCA.
- 02
ZATCA sandbox configuration
Register integration credentials, configure invoice templates, and test clearance workflows in the ZATCA sandbox.
- 03
Production deployment
Connect to ZATCA's Fatoora platform for live invoice clearance with automated posting to your general ledger.
- 04
Reconciliation and monitoring
Reconcile cleared e-invoices to sales and VAT accounts monthly with exception reporting for failed clearances.
- 01
Integration assessment
Review your ERP or accounting platform, invoice volumes, and current FATOORA compliance status with ZATCA.
- 02
ZATCA sandbox configuration
Register integration credentials, configure invoice templates, and test clearance workflows in the ZATCA sandbox.
- 03
Production deployment
Connect to ZATCA's Fatoora platform for live invoice clearance with automated posting to your general ledger.
- 04
Reconciliation and monitoring
Reconcile cleared e-invoices to sales and VAT accounts monthly with exception reporting for failed clearances.
FATOORA Phase 2 requires all VAT-registered businesses in Saudi Arabia to issue, clear, and store e-invoices through ZATCA's Fatoora platform in XML or JSON format with cryptographic stamps and QR codes. Integration failures cause invoice rejection, VAT reporting discrepancies, and ZATCA penalties. We integrate FATOORA clearance with Odoo, Zoho Books, QuickBooks, and other ERP platforms — testing workflows in the ZATCA sandbox before production deployment. Cleared e-invoices post to sales and output VAT accounts automatically. Monthly reconciliation matches FATOORA records to general ledger entries, supporting VAT return output tax figures retained for the ten-year statutory period.
Common questions
05 / 10
Bank & Credit Card Reconciliation
Reconcile SAR, USD, EUR, and other currency business accounts against your nominal ledger monthly so cash positions are accurate and ZATCA records are complete. Bank reconciliation is the foundation of KSA-compliant bookkeeping — unreconciled accounts undermine VAT returns, Zakat base calculations, and SOCPA audit submissions.
Multi-currency reconciliation
Bank feed integration
ZATCA audit defence
WPS payment matching
How it works, details and FAQsShow less
How it works
- 01
Account inventory and feed setup
Catalog all business bank and card accounts across Saudi and international banks with feed configuration.
- 02
Transaction matching
Match each bank line to posted nominal entries, flagging unmatched items for investigation.
- 03
FX revaluation
Revalue foreign currency balances at period-end SAMA rates with gain/loss posting to the general ledger.
- 04
Reconciliation sign-off
Finalise reconciliation reports confirming bank balance equals book balance for each account monthly.
- 01
Account inventory and feed setup
Catalog all business bank and card accounts across Saudi and international banks with feed configuration.
- 02
Transaction matching
Match each bank line to posted nominal entries, flagging unmatched items for investigation.
- 03
FX revaluation
Revalue foreign currency balances at period-end SAMA rates with gain/loss posting to the general ledger.
- 04
Reconciliation sign-off
Finalise reconciliation reports confirming bank balance equals book balance for each account monthly.
Accurate bank reconciliation is essential for ZATCA-compliant record-keeping — accounting records must reflect actual cash movements supported by bank statements retained for the ten-year period. Saudi businesses commonly operate SAR, USD, and EUR accounts requiring monthly reconciliation with IAS 21 revaluation at SAMA closing rates. We reconcile WPS salary accounts, corporate credit cards, and payment gateway settlements. Unreconciled accounts delay VAT returns and create discrepancies in Zakat base and Corporate Income Tax calculations. Clean monthly reconciliations reduce ZATCA audit risk and satisfy SOCPA-licensed auditor requirements for statutory audits and Ministry of Commerce CR renewal.
Common questions
06 / 10
Zakat Base Calculation Preparation
Prepare Zakat base schedules from your general ledger supporting ZATCA Zakat return filing at 2.5% for Saudi and GCC-owned entities. Zakat base calculation adjusts IFRS equity for SOCPA-defined add-back and deduction components to determine the correct Zakat liability.
Zakat base components
IFRS to Zakat adjustments
Mixed-ownership support
ZATCA return readiness
How it works, details and FAQsShow less
How it works
- 01
Balance sheet classification
Classify all assets and liabilities into Zakat base components per ZATCA and SOCPA guidance.
- 02
Add-back and deduction schedule
Calculate additions for equity, provisions, and long-term loans minus deductions for fixed assets and investments.
- 03
Zakat base reconciliation
Reconcile Zakat base to general ledger balances with supporting documentation for each adjustment line.
- 04
Return preparation support
Prepare Zakat base schedules for ZATCA portal filing and coordinate with your tax advisor on combined returns.
- 01
Balance sheet classification
Classify all assets and liabilities into Zakat base components per ZATCA and SOCPA guidance.
- 02
Add-back and deduction schedule
Calculate additions for equity, provisions, and long-term loans minus deductions for fixed assets and investments.
- 03
Zakat base reconciliation
Reconcile Zakat base to general ledger balances with supporting documentation for each adjustment line.
- 04
Return preparation support
Prepare Zakat base schedules for ZATCA portal filing and coordinate with your tax advisor on combined returns.
ZATCA imposes Zakat at 2.5% on the Zakat base of entities owned by Saudi or GCC nationals. The Zakat base is not simply IFRS equity — it requires adjustments adding back equity, provisions, and long-term liabilities while deducting fixed assets, investments, and non-Zakat assets. Mixed-ownership companies calculate Zakat on the Saudi/GCC share and Corporate Income Tax at 20% on the foreign-owned profit share in a combined return. We maintain Zakat base schedules throughout the year, tracking each component from SOCPA-endorsed IFRS accounts. Records are retained for the ten-year statutory period and reconcile to audited financial statements for SOCPA-licensed auditor review.
Common questions
07 / 10
Monthly & Quarterly Management Accounts
Receive timely profit and loss, balance sheet, and cash flow reports in SAR that give Saudi directors visibility into performance between year-end IFRS filings. Management accounts support Zakat provision planning, VAT cash flow forecasting, and board-level decisions without waiting for annual SOCPA audit submissions.
Monthly P&L and balance sheet
Cash flow forecasting
KPI dashboards
Quarterly board packages
How it works, details and FAQsShow less
How it works
- 01
Reporting calendar setup
Agree monthly close dates, report format, and KPI metrics aligned to your board or management needs.
- 02
Monthly close execution
Reconcile accounts, post accruals and prepayments, and finalise SAR trial balance by agreed close date.
- 03
Management report preparation
Generate P&L, balance sheet, and cash flow with comparative prior period and budget columns in SAR.
- 04
Review and delivery
Walk through variances with directors and update Zakat and VAT provision estimates each quarter.
- 01
Reporting calendar setup
Agree monthly close dates, report format, and KPI metrics aligned to your board or management needs.
- 02
Monthly close execution
Reconcile accounts, post accruals and prepayments, and finalise SAR trial balance by agreed close date.
- 03
Management report preparation
Generate P&L, balance sheet, and cash flow with comparative prior period and budget columns in SAR.
- 04
Review and delivery
Walk through variances with directors and update Zakat and VAT provision estimates each quarter.
Saudi companies file statutory IFRS accounts annually for CR renewal and ZATCA Zakat and Corporate Income Tax purposes, but directors need interim visibility to manage cash, tax obligations, and operations throughout the year. Monthly management accounts provide P&L, balance sheet, and cash flow in SAR between statutory filings. Reports inform Zakat provision estimates at 2.5% on the Zakat base and VAT cash flow forecasting for monthly or quarterly ZATCA payments. For mixed-ownership entities, management accounts track Zakat base components and Corporate Income Tax profit allocation throughout the year. We reconcile management accounts to ZATCA-ready bookkeeping records so year-end IFRS statements prepared under SOCPA-endorsed standards require minimal reconstruction and SOCPA-licensed audit fees are contained.
Common questions
08 / 10
Cloud Accounting Setup (Zoho, QuickBooks, Odoo)
Configure cloud accounting platforms for Saudi operations with SAR functional currency, ZATCA VAT tax codes, Zakat reporting dimensions, FATOORA e-invoicing integration, and bank feed connectivity. We set up Zoho Books, QuickBooks Online, or Odoo Accounting with SOCPA-aligned chart of accounts and GOSI payroll journal templates.
Platform selection guidance
KSA chart of accounts
Bank and FATOORA feeds
Team access and workflows
How it works, details and FAQsShow less
How it works
- 01
Requirements assessment
Evaluate transaction volume, entity structure, FATOORA integration needs, and budget to select the optimal platform.
- 02
System configuration
Set up company profile, SAR functional currency, SOCPA-aligned chart of accounts, and Saudi VAT tax codes.
- 03
Integration and migration
Connect bank feeds, FATOORA clearance via ZATCA sandbox testing, import opening balances, and migrate historical data.
- 04
Training and handover
Train your team on daily posting, VAT coding, and report generation with ongoing support options.
- 01
Requirements assessment
Evaluate transaction volume, entity structure, FATOORA integration needs, and budget to select the optimal platform.
- 02
System configuration
Set up company profile, SAR functional currency, SOCPA-aligned chart of accounts, and Saudi VAT tax codes.
- 03
Integration and migration
Connect bank feeds, FATOORA clearance via ZATCA sandbox testing, import opening balances, and migrate historical data.
- 04
Training and handover
Train your team on daily posting, VAT coding, and report generation with ongoing support options.
Cloud accounting platforms streamline Saudi bookkeeping by automating bank feeds, VAT calculations, and financial reporting in SAR. Zoho Books offers strong KSA localisation, QuickBooks Online provides widespread accountant familiarity, and Odoo integrates operations, inventory, FATOORA e-invoicing, and accounting in one platform. We configure SOCPA-aligned IFRS chart of accounts, Saudi VAT tax codes for 15%, zero-rated, exempt, and reverse charge transactions, and Zakat base reporting dimensions. FATOORA Phase 2 integration is tested in the ZATCA sandbox before production deployment. Bank feeds from Al Rajhi, SNB, and Riyad Bank connect for automated import with Arabic and bilingual document support.
Common questions
09 / 10
Multi-Entity & Group Bookkeeping
Manage consolidated books across Saudi holding companies, operating subsidiaries, and MISA-licensed entities with SAR functional currency reporting and inter-company transaction tracking. Multi-entity bookkeeping handles transfer pricing documentation support and separate Zakat and Corporate Income Tax tracking per entity.
Group entity management
Multi-currency transactions
Inter-company reconciliation
Transfer pricing support
How it works, details and FAQsShow less
How it works
- 01
Entity structure mapping
Document group structure, ownership percentages, functional currencies, and ZATCA registration per entity.
- 02
Individual entity setup
Configure separate accounting instances with entity-specific VAT registration and Zakat/CIT reporting dimensions.
- 03
Inter-company processing
Post and reconcile inter-entity transactions with transfer pricing support documentation.
- 04
Consolidation and reporting
Produce consolidated SAR management accounts and entity-level IFRS statements for ZATCA and SOCPA filing.
- 01
Entity structure mapping
Document group structure, ownership percentages, functional currencies, and ZATCA registration per entity.
- 02
Individual entity setup
Configure separate accounting instances with entity-specific VAT registration and Zakat/CIT reporting dimensions.
- 03
Inter-company processing
Post and reconcile inter-entity transactions with transfer pricing support documentation.
- 04
Consolidation and reporting
Produce consolidated SAR management accounts and entity-level IFRS statements for ZATCA and SOCPA filing.
Saudi business groups often span holding companies, MISA-licensed subsidiaries, and branch offices — each with separate ZATCA VAT and Zakat registrations. Multi-entity bookkeeping requires separate general ledgers per entity with SAR as the functional currency, while foreign subsidiaries report in USD or other currencies translated at consolidation per SOCPA-endorsed IFRS. Inter-company transactions must be recorded at arm's length with documentation supporting ZATCA transfer pricing rules for related-party transactions exceeding SAR 6 million annually. Mixed-ownership entities separately track Zakat base components and Corporate Income Tax profit allocation. We reconcile inter-company balances monthly and produce consolidated SAR management reports alongside entity-level IFRS statements for SOCPA audit and ZATCA filing.
Common questions
10 / 10
Outsourced CFO & Financial Controller Services
Access senior finance leadership on a fractional basis — financial strategy, ZATCA tax planning, cash flow management, and board reporting for Saudi businesses without a full-time CFO. Outsourced CFO services bridge the gap between day-to-day bookkeeping and strategic financial decision-making across single and multi-entity KSA operations.
Strategic financial leadership
Cash flow & tax planning
Board and investor reporting
ZATCA compliance oversight
How it works, details and FAQsShow less
How it works
- 01
Financial health assessment
Review current books, ZATCA compliance status, cash position, and reporting gaps across all entities.
- 02
Finance function design
Define reporting calendar, KPI framework, approval workflows, and team structure for your growth stage.
- 03
Ongoing financial leadership
Monthly close oversight, board reporting, budget variance analysis, and Zakat/VAT cash planning.
- 04
Strategic advisory
Support fundraising, MISA expansion, Vision 2030 market entry decisions, and M&A financial due diligence.
- 01
Financial health assessment
Review current books, ZATCA compliance status, cash position, and reporting gaps across all entities.
- 02
Finance function design
Define reporting calendar, KPI framework, approval workflows, and team structure for your growth stage.
- 03
Ongoing financial leadership
Monthly close oversight, board reporting, budget variance analysis, and Zakat/VAT cash planning.
- 04
Strategic advisory
Support fundraising, MISA expansion, Vision 2030 market entry decisions, and M&A financial due diligence.
Growing Saudi businesses often outgrow basic bookkeeping but cannot justify a full-time CFO — particularly MISA-licensed startups, scaling retail operators, and multi-entity groups navigating Zakat, Corporate Income Tax, and VAT simultaneously. An outsourced CFO provides budgeting, rolling forecasts, Zakat base planning at 2.5%, and VAT cash flow management for ZATCA payments. We oversee monthly close, prepare board-ready packages in SAR, and advise on mixed-ownership structuring where Zakat and CIT obligations coexist. For investment rounds or bank facilities, we produce SOCPA-endorsed IFRS financial models and due diligence data rooms at a fraction of full-time CFO cost.
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Accounting & Bookkeeping · Saudi Arabia
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