Manufacturing

Three inventory stages, tracked as one number, tells you nothing

A manufacturer tracking raw materials, work in process and finished goods as a single inventory figure cannot see where cost is actually building up. A standard cost variance between what a product should cost and what it actually cost, buried in one number, goes unreviewed until margin has already slipped for months.

Finbryn tracks inventory by stage where the manufacturer's production or ERP system provides stage-level detail, and builds landed cost, including freight and customs duty, into per-unit inventory cost rather than expensing it against the month it arrived.

Withholding tax on foreign technical services

Saudi manufacturers building out local production capacity, often under Vision 2030 localisation programmes, frequently pay foreign suppliers for technical services, licensing or equipment commissioning. Payments to a non-resident with no permanent establishment in the Kingdom trigger withholding tax under Article 68, with rates that vary by category, commonly cited around 15% to 20% for management fees or technical services, and the withholding return for a given month is due by the 10th of the month that follows. We flag which supplier payments trigger withholding before the invoice is settled.

GOSI, Mudad and Saudisation on the production floor

A manufacturer's workforce usually mixes Saudi production staff, whose GOSI contribution runs to the full 21.5% split between employer and employee, with expatriate technical staff carrying only the 2% employer-paid occupational hazards branch. Wages for every registered worker move through the Wage Protection Programme via Mudad, and Saudisation quotas tied to the plant's classification make consistent payroll coding across shifts and departments more than a bookkeeping nicety.

Working with Finbryn

Our delivery team reconciles inventory and payroll weekly and closes on a fixed monthly cycle, with figures reviewed by a senior reviewer and a corporate CFO. Zakat, corporate tax and withholding tax returns are prepared by our team and filed by the taxpayer or a licensed tax agent. Statutory audit, where required, is performed only by a SOCPA-licensed auditor; we prepare the audit-ready books and IFRS financial statements that auditor works from. Pricing is published on our pricing page, and manufacturers bringing books current start with a scoped catch-up project ahead of ongoing monthly bookkeeping.