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E-invoicing-in-Saudi-Arabia-A-Ultimate-guide-to-keeping-your-business

Switch your small business to a full online store business. PosBytz is a complete omnichannel solution for your business.

Sell your products across the globe from any location, and use them at multiple outlets with one of the best free online store platforms. Posbytz makes your product and business sell on google shopping as well

Posbytz serves a diverse range of customers, from small independent stores to local chains and large corporations.

Posbytz, e-Invoicing software is an approved vendor of ZATCA where you get a fast & reliable ZATCA e-Invoicing software. With our help, big brands have successfully complied with ZATCA e-invoicing guidelines and generated e-invoices seamlessly. 

Step by Step process for businesses to follow-up to comply with ZATCA electronic invoicing Saudi Arabia 

 

Introduction – E-invoicing in Saudi Arabia: A Ultimate guide to keeping your business

Electronic Invoicing is a procedure that aims to convert the issuing of paper invoices as well as credit and debit notes into an electronic process that allows the exchange and processing of invoices, credit and debit notes in a structured electronic format between the buyer and seller.

The main objective of introducing E-invoicing in Saudi Arabia is to enable businesses to function with greater efficiency and transparency.

Integrating your business data with ZATCA ensures transparency and smooth operations.

Posbytz, electronic invoicing Saudi Arabia helps you seamlessly manage all your incoming and outgoing invoices and also helps you meet the current technical specifications for Saudi electronic invoicing Saudi Arabia POS

Saudi Arabia: Electronic invoicing Saudi Arabia and its purposes

  • Introducing electronic invoicing in Saudi Arabia is to enable businesses to function with greater efficiency and transparency. Integrating your business data with ZATCA ensures transparency and smooth operations.
    Reduced hidden economy transactions.
  • Reduced commercial concealment by increasing requirements related to invoice
  • tracking and data retention.
  • Enrich the consumer experience and digitize the consumer-supplier relationship.

How E-invoicing is implemented in Saudi Arabia?

E-invoicing can increase efficiency in transactions by making trade more seamless, and efficient, resulting in faster payments and reduced costs

Enabling fair competition, increasing business competitiveness and improving consumer protection in the market, in line with international best practices.

E-invoicing allows the government to detect and reduce the shadow economy and to monitor the movement of goods, services, and money in (near) real-time, depending on the model that will be implemented.

Key Benefits of E-invoicing in Saudi Arabia

Some of the key benefits of E-invoicing in Saudi Arabia are listed below. The main advantage that Posbytz provides is the ability to keep track of your invoices and generate powerful insights. 

  • Speeds up the entire process for sellers and buyers
  • Real-time invoice generation to process tax credits faster
  • Robust full data security
  • Error-free records
  • Minimum slip-ups and other inconveniences for business owners
  • Faster & Simpler payments method
  • Enhanced business ecosystem through a single unified process
  • Reduced hidden economy transactions

Step by Step process for businesses to follow-up to comply with ZATCA e-invoicing 

 

PHASE 1 – Generation Phase

In this Generation phase, the taxpayers can individually generate and store tax e-invoices and e-notes through electronic solutions compliant with Phase 1 requirements.

PHASE 2 ​- Integration Phase

This Integration, phase will involve the introduction of Phase 2 technical and business requirements for electronic invoices through the final integration of this electronic e-invoicing with ZATCA’s systems.

ZATCA will notify taxpayers of their Phase 2 wave at least six months in advance, and the enforcement date for the first target group will not be earlier than January 1st, 2023.

As Posbytz, e-invoicing software in Saudi Arabia generates

  • Invoices in Arabic & English with QR codes as per Phase-1 ZATCA e-invoicing
  • Generate secure PDF/A3 with XML Invoices as per approved format
  • Display QR Code on e-invoices or notes.
  • Generate a Universally Unique identifier ( UUID)
  • Generate a hash for Each invoice or note
  • Tamper-resistant counter
    Digital stamp mandated
  • E-invoice storage as per VAT regulations.

Posbytz – Approved e-invoicing POS software 

We offer a complete platform to manage your business seamlessly with all compliances of ZATCA

PosBytz comply with ZATCA’s new e-invoicing guidelines & most popular restaurant POS systems ahead of time or begins the process now. To know more about our e-invoicing features click here.

Conclusion

Posbytz, an e-invoicing software is a one-stop POS system for a restaurant in Saudi Arabia that can easily access features. 

Since it’s cloud-based, you can access your restaurant data from anywhere. PosBytz must be your go-to choice if you are searching for the zatca approved best free pos software for restaurants in Saudi Arabia to analyze your business data quickly and easily.

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