KSA ZATCA (Fatoorah)
KSA Fatoorah E-Invoicing is a cutting-edge electronic invoicing platform designed to streamline and modernize the invoicing process for businesses in Saudi Arabia. This innovative solution leverages advanced technology to replace traditional paper-based invoices with a secure and efficient digital alternative.
KSA ZATCA (E Invoicing) extension for Microsoft Dynamics 365 Business Central which helps customers based in Saudi Arabia / KSA to comply with latest VAT Requirements for the country. The Tech Ventures extension facilitates the generation of Tax Invoices, Credit Notes, and Debit Notes in accordance with the specifications outlined by KSA Regulations. This includes incorporating Arabic text, columns, layout, and QR Codes as mandated.
Microsoft Dynamics 365 Business Central KSA E Invoicing Key Features
1. Digital Invoicing
With Tech Ventures Extension for KSA Fatoorah E-Invoicing enables businesses to create, send, and receive digital invoices seamlessly. This eliminates the need for manual paperwork, reducing the risk of errors and enhancing overall efficiency.
2. Compliance with Regulations
The platform provided by Tech Ventures is specially designed to align with the regulatory requirements of Saudi Arabia. It ensures that businesses can easily adhere to local invoicing regulations, promoting legal compliance and avoiding potential penalties.
3. Secure Transactions
Security is a top priority for us at Tech Ventures, and KSA Fatoorah E-Invoicing Extension by Tech Ventures employs state-of-the-art encryption and authentication measures to safeguard sensitive financial information. This ensures that transactions conducted through the platform are secure and protected from unauthorized access.
4. Real-Time Invoice Integration & Clearance
With our add-on, immediate invoice clearance and validation are made possible through real-time connectivity with the ZATCA platform. As invoices are generated, they are automatically submitted to the ZATCA system for approval, ensuring immediate compliance checks. Upon validation, invoices are cleared and approved.
5. Cryptographic Stamp & QR Code Compliance
A cryptographic stamp is placed in each generated invoice to guarantee its authenticity. Additionally, a QR code is automatically generated, complying with ZATCA standards, which stores essential invoice details like seller information, VAT number, invoice date, and total VAT.
6. Invoice Format Flexibility & Customization
Tech Ventures extension offers flexibility in generating invoices in XML, and PDF/A-3. Businesses can preserve their trademark while adhering to the required ZATCA e-invoice format by using customizable templates.
7. Automated Invoice Validation & Error Handling
With the built-in validation mechanisms in KSA E-invoicing solution by Tech Ventures it is ensured that invoices meet all compliance requirements before submission. Any errors or discrepancies (e.g., missing fields, incorrect tax amounts) are flagged and reported with clear instructions on how to fix them, reducing the likelihood of invoice rejection by ZATCA.
8. Multi-Language & Multi-Currency Support
Our add-on supports both Arabic and English languages in invoice creation, along with multi-currency transactions, facilitating compliance in various international trade scenarios. Currency conversion is handled in line with ZATCA guidelines to ensure accurate VAT calculation and reporting.
Benefits of using tech ventures extension for KSA fatoorah e-invoicing
Time Efficiency
Tech Venture Extension for KSA E-Invoicing will help in automating the invoicing process, businesses can significantly reduce the time spent on manual tasks such as data entry and paperwork. This efficiency allows staff to focus on more strategic activities, enhancing overall productivity.
Cost Savings
With the help of using the Extension, the transition to digital invoicing eliminates the costs associated with paper, printing, and postage. Additionally, the reduction in manual errors and streamlined processes contribute to long-term cost savings for businesses.
Improved Accuracy
Digital invoicing linked with the extension helps to minimizes the risk of human error associated with manual data entry. This leads to more accurate and reliable financial records, reducing the likelihood of discrepancies and associated issues.
Faster Payment Cycles
Through Tech Ventures KSA E-invoicing extension, digital invoices can be processed more quickly than their paper counterparts. This accelerates payment cycles, providing businesses with improved cash flow and financial predictability.
Improved Business insights
E-invoicing gives businesses quick access to their financial information. This helps them make better decisions and plan their finances. Businesses can easily track their sales, outstanding invoices, and overall financial health.
Environmental Sustainability
Going paperless with KSA Fatoorah E-Invoicing contributes to environmental sustainability by reducing the demand for paper and lowering the overall carbon footprint associated with traditional invoicing methods.
Layout as per KSA Requirements
Tech Ventures KSA E Invoicing extension provide sufficient details that ensure that you comply with KSA VAT regulations and requirements. This includes labels and text in Arabic, capturing details from customer information and sales invoices.
QR Code for KSA E Invoicing
Tech Ventures Microsoft Dynamics 365 Business Central extension for KSA E Invoicing provides QR code on Sales Invoices, Debit Note & Credit Note that stores information as per requirements for KSA VAT Compliance.
Compliant with Phase 1 of KSA VAT Requirements
Tech Ventures Microsoft Dynamics 365 Business Central extension is in compliant with KSA VAT Requirements for Phase 1 of E-Invoicing (FATOORAH).