The Ultimate Guide to Accounting Software Pricing in Saudi Arabia



Accounting software has become an indispensable tool for streamlining operations, ensuring compliance, and optimizing financial health. With a multitude of options available in Saudi Arabia, businesses often find it challenging to make an informed decision.

This comprehensive guide aims to shed light on the pricing models of various accounting software platforms available in the Saudi market, and why Wafeq offers unparalleled advantages.

How Much Does Accounting Software Cost in Saudi Arabia?

Accounting software in Saudi Arabia offers various pricing plans that cater to diverse business needs and budgets. From monthly subscriptions to yearly packages, small businesses and large enterprises alike have multiple options. Let's delve into the details of each platform's pricing.

Comparing Accounting Software Prices

Wafeq

Wafeq offers a holistic accounting and invoicing solution designed to meet diverse business requirements. Its pricing strategy is tailor-made to suit various operational scales. For VAT-registered enterprises, the Starter plan at SAR 69/month provides e-invoicing and expense tracking capabilities. The Plus and Premium plan scale up the offerings to include advanced features like quotes, purchase orders, and payroll management, among others.

SMACC

Pricing Plans:

• Basic: $125 USD/month
• Advanced: $159 USD/month
• Enterprise: $185 USD/month

SMACC offers a modular pricing approach, allowing businesses to choose specific modules tailored to their requirements. Prices are in USD, adding an additional layer of cost consideration for Saudi businesses.

Xero

Pricing Plans:

• Starter: $22 USD/month
• Standard: $35 USD/month
• Premium: $47 USD/month

Xero's pricing is also in USD, ranging from $22 for starters to $47 for well-established businesses. However, Xero is not compliant with Saudi Arabian e-invoicing regulations, which may factor into your decision-making process.

Quickbooks

Pricing Plans:

• Simple Start: $17 USD/month
• Essentials: $26 USD/month
• Plus: $36 USD/month

Quickbooks provides diverse options for small and medium-sized businesses. However, like Xero, Quickbooks is not compliant with Saudi Arabian regulations.

Zoho Books

Pricing Plans:

• Standard: 69 SAR/month
• Professional: 129 SAR/month
• Premium: 159 SAR/month
• Elite: 349 SAR/month
• Ultimate: 799 SAR/month

Zoho Books offers the most diverse pricing structure, with plans suitable for freelancers up to large enterprises. The pricing is in SAR, making it easier for Saudi businesses to relate to.

Qoyod

Pricing Plan:

• Single plan priced at 199 SAR/month.

Qoyod keeps it simple with a single pricing plan at 199 SAR per month, providing full access to all features. Whether you are an SMB or an established business, this platform provides an opportunity to exploit its suite of features.

Daftra

Pricing Plans:

• Basic: 99 SAR/month
• Single Plan: 159 SAR/month
• Single Plan (Enhanced): 199 SAR/month

Daftra’s flexible pricing tiers are designed to cater to different business needs. The Basic plan is limited to 2 banks or petty cash accounts. In contrast, the more enhanced Single Plans provide additional functionalities such as cost centers, price lists, and purchasing management.

Why Wafeq Outshines the Competition

Pricing Flexibility

Wafeq's four-tier pricing strategy offers solutions for every budget and business size. The entry-level Basic Free package enables startups and small businesses to benefit from accounting software without any financial burden. This cost-effectiveness sets Wafeq apart from most competitors, who often lack a free-entry level plan.

Comprehensive Features

Wafeq goes beyond basic accounting and e-invoicing to offer functionalities that cover expense tracking, inventory management, payroll, and multi-branch options. Most importantly, it scales with your business, ensuring you don't outgrow the platform.

Local Compliance and Language Support

Wafeq is fully compliant with Saudi VAT regulations, a feature missing in popular international options like Xero and Quickbooks. Plus, the software is available in both English and Arabic, catering to the linguistic needs of the Saudi market.

Advanced Financial Analytics with Enhanced Dashboard Charts

Profit and Loss (P&L) Charts

Wafeq has recently rolled out P&L charts, a powerful analytics tool designed to give you an instant snapshot of your business's financial well-being. The charts cover various facets like Revenue by Branch, Revenue by Cost Center, and Revenue by Project, among others. Whether you're a seasoned accountant or a small business owner, these charts simplify complex financial data into easy-to-understand visuals for efficient strategic planning.

These analytics tools offer a 360-degree view of your business’s financial landscape, making decision-making easier than ever.

Automated Bookkeeping with 'Inbox' Feature

We’re delighted to unveil the new 'Inbox' feature. Now, you can send your receipts and invoices directly to your Wafeq inbox. Our smart algorithms will scan and sort them for you, eliminating the need for manual data entry. No more misplacing receipts or spending hours in data input; send them to your Wafeq inbox and let the technology handle the rest.

Read more: Choosing The Right Accounting Software For Your Small Business.

Final Takeaway

Choosing the right accounting software requires a delicate balancing act between cost, features, and local compliance. Wafeq offers a competitive edge with its flexible pricing and comprehensive features that cater to a broad spectrum of businesses in Saudi Arabia. Its laser focus on local compliance and advanced collaboration tools further solidify its status as an unrivaled accounting solution in the Saudi market. Therefore, Wafeq doesn't just keep up with the competition; it leads the way.