Vat Software Solution In Saudi Arabia

By Author: Manal Technology
Total Articles: 40

Manal Technology is intuitive accounting software company, established in 2011. We are privately owned business based in Saudi Arabia. We endeavor to provide scalable, cost-effective and integrated support services that leave you free to concentrate on your core business activities.

Fully integrating within your organization, we always take the time to understand your industry and business aspirations so that we can provide Tally software support and VAT solution services to accommodate your future plans.

The advantage of Tally.ERP 9 software is, it helps in managing critical and major financial area of business and gives freedom of enjoyment in all aspects.

Tally.ERP 9 is Saudi Arabia’s leading business management software for VAT solutions, accounting, inventory, and payroll management. It is economical and one of the most popular ERP solutions available in the industry.

The small, medium companies and enterprises that operate in the region of the GCC need to consider the effects of this new TAX calculation on their operations.

VAT is a latest tax compilation on consumption that makes calculation easy. VAT is considering at each step of the supply chain. It is a more complex form then a simple sales tax, but with huge advantages.
If any company does not register for a tax before the specified period, a fine of 10,000 SAR is imposed.

Checklist of companies for VAT preparation in Saudi Arabia:

Have a focal point to determine the table of accounts of the goods sold according to the tax policies of the VAT in Saudi Arabia.

Purchasing and inventory management should record and file all invoices with a record of the supplier tax details for repayment.

The point of sale must show the price of the goods and the sales receipt must comply with the tax requirements when recording the sales.

Maintain a general accounting record with the calculation of the VAT balances for the payment and refunds after filling.

For more information on VAT software solution and services in Saudi Arabia, then feel free to contact us on 00966-583117703 or visit our website at http://manalpro.com/tally/vat-returns-vat-payable/.