What is an electronic invoice?
The electronic invoice is the digital alternative to the paper invoice. It is issued and stored electronically using specialized systems such as Riv-ERP. The system allows invoices to be sent directly to the Zakat, Tax and Customs Authority in accordance with Saudi regulations. E-invoicing aims to enhance financial transparency and tax compliance, and it also protects against tampering thanks to electronic signatures and secure encryption.
Is electronic invoicing mandatory in Saudi Arabia?
Yes, electronic invoicing has become mandatory under the regulations of the Zakat, Tax and Customs Authority. It is being implemented in phases:
- Phase One: Issued in December 2021 and covers the generation and electronic storage of invoices.
- Phase Two: Began rolling out gradually starting in 2023, and requires integrating systems with the Authority’s “Fatoora” platform.
You can check whether your company is included in the system by visiting the Authority’s website.
How does Riv-ERP help issue electronic invoices?
Riv-ERP offers integrated solutions to ensure compliance with Saudi regulations:
- Invoice issuance: Supports issuing invoices in the required XML format. It includes all mandatory fields such as the tax number and QR code.
- Integration with the Zakat Authority: Supports direct linking with the “Fatoora” platform using APIs.
- Data verification: Provides an automatic verification system to ensure the accuracy of invoice data before it is sent.
- Managing incorrect invoices:
What is the UUID identifier?
It is a unique number issued for each electronic invoice within the Zakat Authority’s system, ensuring the invoice cannot be duplicated or altered. It is generated automatically by the Authority’s platform when the invoice is submitted.
What are the steps required to integrate with the “Fatoora” platform?
- Register the company on the “Fatoora” platform via the Zakat Authority’s website.
- Obtain the login credentials and the secret key.
- Link Riv-ERP with the Authority’s platform using an API.
- Begin sending invoices directly after integration.
Is there a standardized format for electronic invoices?
Yes, the mandatory data is standardized:
- Company name.
- Tax number.
- Product or service details.
- QR code.
No, the design is customizable: you can design the invoice to match your company’s identity using Riv-ERP.
How are invoice errors corrected?
- A debit or credit note can be issued to correct errors.
- The note must be linked to the original invoice and must not exceed the total value.
What are the coding standards applied in Saudi Arabia?
- GS1: A global coding standard that ensures each product code is unique.
- GPC: A standard for classifying products and services.
- If your company uses internal codes, they can be aligned with these standards through Riv-ERP.
Why is Riv-ERP important for Saudi companies?
- Full regulatory compliance: Issuing electronic invoices compliant with the Zakat Authority’s requirements.
- Integrated management: Comprehensive support for managing sales and inventory alongside e-invoicing.
- Performance analysis: Comprehensive reports for monitoring invoices and revenue.
- Security: Data encryption and protection according to the highest standards.
Get started now with Riv-ERP!
Achieve full compliance with the Zakat, Tax and Customs Authority in Saudi Arabia using the Riv-ERP system. Start your trial today to improve your e-invoicing operations.
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