Monthly bookkeeping

A typical month in Riyadh, Jeddah or Dammam

Once the month closes we work through every bank, card and payment feed connected to your QuickBooks Online or Xero file. Each transaction is coded against your chart of accounts, and every account is reconciled to its statement, whichever bank the company holds it with.

VAT coding as you go

The standard 15% VAT rate is applied at the point of coding rather than reconstructed at quarter end. We track taxable supplies against the SAR 40 million threshold that decides monthly versus quarterly filing, so the switch happens on time rather than after the fact.

Zakat and corporate tax stay visible month to month

Revenue and cost are coded so the Saudi and GCC ownership share, taxed at 2.5% Zakat, is visible separately from the non-Saudi share taxed at 20% corporate income tax, well before the 120-day filing window after year end closes.

Fatoora e-invoicing and payroll

Where a client's VAT-subject revenue crosses the current Fatoora Phase 2 wave, we flag the integration deadline rather than wait for ZATCA's notice. Where staff are paid through Mudad under the Wage Protection Program, the payroll journal is posted each period, split between the 21.5% GOSI contribution on Saudi employees and the 2% occupational hazards charge on non-Saudi employees.

Ready for year end

Because every month is reconciled as it happens, year end starts from a clean trial balance rather than a scramble before the 120-day Zakat and tax filing deadline. If the months before we start are not in order, catch-up bookkeeping comes first. A foreign-owned subsidiary set up under a MISA licence can ask about intercompany accounting once the monthly cycle is running.