Books closed, numbers you can read
Month-end close and reporting
Finbryn closes your Saudi entity's books every month: bank, GOSI and WPS accounts reconciled, Zakat and CIT split tracked by ownership share, and the trial balance reviewed line by line before it feeds management reports, KPI dashboards or a board pack. The same closed file supports your Qawaem filing and your Fatoora invoice records.
Management report
Illustrative client · August 2026
SAR
| Line | Aug | Jul | |
|---|---|---|---|
| Revenue | 142,380 | 131,904 | +10,476 |
| Cost of sales | (51,260) | (48,115) | (3,145) |
| Gross profit | 91,120 | 83,789 | +7,331 |
| Payroll | (46,300) | (45,900) | (400) |
| SoftwareNoted | (6,480) | (5,490) | (990) |
| Rent | (8,000) | (8,000) | 0 |
| Other operating | (9,215) | (9,870) | +655 |
| Net income | 21,125 | 14,529 | +6,596 |
Reviewer's note
Software is up on last month after two seats were added mid-month. Revenue includes one milestone invoice that will not repeat next month.
Illustrative. An example of the document, not a client's figures.
What month-end close and reporting covers
A company operating in Saudi Arabia carries a Commercial Registration to keep current with the Ministry of Commerce, a Zakat or corporate income tax return due within 120 days of year end, and, for many, a Fatoora e-invoicing integration deadline tied to revenue. A monthly close is the routine that keeps all three fed from the same set of numbers instead of three separate scrambles. We reconcile every bank, card and loan account to its statement, book accruals and prepayments for the period, agree WPS payroll costs run through Mudad, and review the trial balance line by line before the month is marked final.
From that closed file we build whatever the business needs next: management reports with a plain-language narrative, a KPI dashboard tracking the handful of numbers that matter, a board pack timed to a shareholder or investor meeting, or a consolidation across a Riyadh head office and branches in Jeddah or Dammam.
Zakat, CIT and mixed ownership
A wholly Saudi or GCC-owned company pays Zakat at 2.5% of the Zakat base. A wholly foreign-owned company pays corporate income tax at 20% of taxable income. A mixed-ownership company owes both at once, computed and filed separately against the same set of books, which is exactly why the underlying ledger needs to separate the ownership shares as transactions post, not reconstructed from bank statements in April. Returns are prepared by our team and filed by you or a ZATCA-licensed tax agent; representing the company before ZATCA stays with that licensed agent.
Built on SOCPA-endorsed IFRS
SOCPA has endorsed IFRS, and IFRS for SMEs for smaller entities, as the reporting basis for companies in the Kingdom. The close, and everything built from it, follows that basis. A foreign parent expecting a different framework is handled through a conversion, kept separate from the Kingdom-facing books.
What this doesn't cover
Filing your Zakat or tax return, or representing the company before ZATCA, sits with the taxpayer or a ZATCA-licensed tax agent, never with us. A statutory audit, and the annual financial statements filed through the Ministry of Commerce's Qawaem platform, stay with a SOCPA-licensed auditor you appoint separately; we prepare the audit-ready file that auditor works from. See pricing for how close and reporting work is scoped and quoted.
All services
Month-end close and reporting: every service
- Month-end closeA repeatable monthly close that ties every account back to source records and hands you a finished set of financials on a predictable date each month.
- Management reportsMonthly profit and loss, balance sheet and cash flow packaged with a plain-English narrative so the numbers explain themselves before anyone has to ask a question.
- KPI dashboardsA small set of metrics that actually run the business, tracked month over month in one place instead of scattered across spreadsheets.
- Board packsA board-ready package built from the same numbers as your monthly close, delivered on a schedule that leaves you time to read it before the meeting.
- Budget vs. actualActual results lined up against the budget every month, with the gap explained in plain language rather than left for you to work out on your own.
- Variance analysisA closer look at why a number moved: price, volume, timing or a one-off, so a variance on a report turns into an answer instead of a question.
- ConsolidationsMultiple entities, locations or subsidiaries combined into one consolidated set of financials, with intercompany balances eliminated while each entity still reports on its own.
- US GAAP conversionBooks moved from cash basis or another framework onto US GAAP accrual accounting, with every adjustment documented so a lender, investor or auditor can follow the trail.
- IFRS conversionBooks converted between US GAAP and IFRS, or built directly on IFRS, for businesses reporting to an overseas parent, investor or standard-setter outside the United States.
- Revenue recognition (ASC 606 / IFRS 15)Revenue recorded when it is actually earned rather than when cash lands, following the five-step model shared by ASC 606 and IFRS 15, so recurring and multi-part contracts are accounted for correctly.
- Lease accounting (ASC 842 / IFRS 16)Operating and finance leases brought onto the balance sheet as a right-of-use asset and a lease liability, in line with ASC 842 and IFRS 16, with monthly amortization tracked going forward.
- Deferred revenueCash collected before it is earned tracked separately from revenue and released to the profit and loss on the schedule that matches when the work is actually delivered.
- Prepaid schedulesInsurance, software subscriptions and other costs paid up front spread across the months they actually cover, instead of hitting one month's profit and loss all at once.
- AccrualsExpenses and revenue recorded in the period they actually happen, even when the invoice or cash has not moved yet, so the month's numbers reflect that month's activity.
- Cash flow statementsA statement of cash flows built from your actual accrual books, showing where cash came from and went across operating, investing and financing activity.
Questions
Frequently asked questions: Month-end close and reporting
Do you file our Zakat or corporate income tax return with ZATCA?
No. We close the books and hand over a reconciled trial balance. The return itself is prepared by our team and filed by you or a ZATCA-licensed tax agent, and any representation before ZATCA sits with that licensed agent.
Which accounting standard do you close our books to?
IFRS as endorsed by SOCPA, or IFRS for SMEs where the company qualifies as a smaller entity, in line with the basis Saudi companies generally report on.
Does the close handle a mixed Saudi and foreign ownership structure?
Yes. Where a company has both Saudi or GCC shareholders and foreign shareholders, we track the Zakat base and the corporate income tax base separately inside the chart of accounts as transactions post, so the split needed for both filings is never rebuilt from scratch at year end.
Do we have to switch accounting software?
No. We work inside the ERP or accounting file you already use, whether that is Odoo, QuickBooks Online, Zoho Books or a Microsoft Dynamics setup, and you keep ownership of that file throughout.
Does the close support our Fatoora e-invoicing records?
Yes. The transaction detail behind each invoice is reconciled as part of the close, so the ledger and the structured invoices sitting on ZATCA's platform stay consistent with each other.
Can the close feed our Qawaem filing with the Ministry of Commerce?
Yes. The closed, reconciled trial balance is the base a SOCPA-licensed auditor works from to produce the audited annual financial statements filed through Qawaem; we prepare that base, the audit itself sits with the auditor you appoint.
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.