The best accounting software in Saudi Arabia



Since the implementation of the e-invoicing law in Saudi Arabia on December 4th, 2021, VAT-registered businesses need to use accounting and invoicing software approved by the Saudi Tax Authority (ZATCA). While choosing an invoicing-only software may solve your e-invoicing needs, this is an opportunity to streamline your Saudi bookkeeping practices by picking the best accounting software that is compliant with ZATCA.

There are several options available in the market, each suitable for specific types and sizes of businesses, ranging from as low as 69 SAR per month up to several thousand. Which one you go for largely depends on the features needed for your business. But don't worry, in this article, we'll lay out the top 5 best accounting software available in Saudi Arabia and how they compare.

Wafeq

Pricing



Wafeq: Modern Cloud Accounting for Saudi Arabia

Strategic Product Summary for Business Owners and Accounting Professionals

Wafeq stands as the premier accounting software solution specifically tailored for the Saudi Arabian market. It combines a sophisticated, modern interface with a suite of high-performance tools designed to streamline financial management for both independent business owners and professional bookkeeping firms.

Solutions for Business Owners

The platform is engineered to simplify complex accounting tasks for non-accountants, ensuring compliance and professional branding without the steep learning curve.

• Compliant E-Invoicing: Easily generate e-invoices in both Arabic and English, ensuring full alignment with local regulatory requirements.
• Brand Personalization: Utilize advanced invoice customization to reflect your company's unique visual identity.
• Digital Branding: Upload your company stamp to automatically appear on all official documentation, including quotes, purchase orders, and invoices.

Efficiency for Accounting Firms

Wafeq provides a distinct competitive advantage for accounting and bookkeeping firms through its focus on data entry speed and operational efficiency.

• Innovative Spreadsheet Interface: This familiar yet powerful interface allows for rapid data entry, making catch-up work and data migration significantly faster than traditional methods.
• Enhanced Productivity: Professional accountants have noted the ability to manage more than double the client workload compared to other accounting platforms.
• ZATCA Migration: The software is optimized for customers transitioning from non-ZATCA-compliant systems to a fully compliant environment.

Key Product Capabilities:

The following table highlights the core automated features that drive Wafeq's utility in the KSA market:

• Financial Reporting Dual-language (Arabic/English) automation for Profit & Loss statements, balance sheets, and full financial reports available with one click.
• VAT Compliance Automatic generation of VAT returns in the exact format required for filing with ZATCA.
• Core Accounting Automation Automated amortization on bills to spread prepaid expenses and automatically post journal entries; New rules for bank transaction categorization for faster reconciliation

Top Features

• Local support via phone, email, and WhatsApp.
• Easy to use with a simple user interface, but powerful features and tools.
• Automatic VAT return generation in the format of the Zakat, Tax, and Customs Authority.
• Best price in the market for the value offered.
• Customizable invoice templates to match your brand and business requirements.
• Designed primarily in Arabic for clients in Arab countries and their regulations.

Read also: Top 8 Accounting Software Solutions in the UAE.

Daftra

Pricing



Overview

Daftra is a cloud software that allows companies to manage sales, invoicing, bookkeeping, customers, staff, inventory, and other operations.

Best Features

1. Manage customer loyalty program
2. Manage timeshifts
3. Assembled inventory items

SMACC

Overview

SMACC is a cloud accounting software that is typically suited for small to medium businesses. The modular design and pricing structure allow companies to choose which modules they need, for example, accounting, payroll, and so on. The software has a presence in several countries and supports 13 languages.

Best Features

1. Budgeting tool
2. Modular
3. Supports 13 languages

Xero

Overview

Xero is an accounting software from New Zealand made for small and growing businesses. In the Middle East, it offers its Global version, which is a non-localized version of its accounting software. This means Xero is not compliant with the e-invoicing regulation in Saudi Arabia, and is also not available in Arabic.

Xero links small businesses with their accountant and offers business owners visibility over their finances. Since it's a cloud-based solution, users can access Xero from any device with an internet connection. It has solid accounting features: businesses can see reports of their cash flows, receivables, payables, and more. However, bank feeds are not available in the Middle East for almost all banks, which means users need to import their statements manually. It has a fixed asset module to make it easy to record fixed assets and run depreciations, and a basic payroll module.

Best Features

1. Clean interface
2. Repeating invoices/bills/journals
3. Reports

Quickbooks

Overview

Quickbooks is another accounting software from the United States made for small and medium businesses. In the Middle East, it offers a semi-localized version of its accounting software. QuickBooks is not compliant with the e-invoicing regulation in Saudi Arabia and is also not available in Arabic.

Best Features

1. Workflow automation
2. Budgeting and forecasting
3. Custom reporting

Zoho Books

Overview

Zoho Books was developed in India and is an accounting solution for businesses of all sizes to help them manage finances. The software simplifies multiple financial processes such as vendor payables and customer receivables, time tracking, payroll, inventory, and banking.

Best Features

1. Advanced workflow automation
2. Custom transaction numbering
3. Scheduled reports