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



Overview

Wafeq is the newest accounting software in the Saudi market, with a clean, modern interface and powerful features for business owners and accounting firms.

For non-accountants, Wafeq offers easy-to-use e-invoicing in dual languages Arabic and English, and an invoice customization feature to make the invoice match your company's brand. You can also upload your company's stamp, which will appear on all documents like invoices, quotes, and purchase orders.

Accounting and bookkeeping firms are also especially well served because the software is designed for efficiency in data entry thanks to its innovative spreadsheet interface. This significantly speeds up catch-up work or migration work – for example for customers wanting to move from a non-ZATCA compliant accounting software to Wafeq. Accountants have reported that they can handle more than twice as much client work than other accounting software.

Key product features:

• Dual language automated financial reporting. Profit & Loss, balance sheets, and financial statements can be produced with a click in both English and Arabic.

• Automatic VAT return generation. The VAT return will be generated with the exact same format as required by ZATCA, ready to be filed.

• Powerful integration with Foodics and Salla. The Foodics integration completely automates the accounting for your restaurant, including the automatic booking of sales, purchases, cost of goods, and inventory.

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

Qoyod

Overview

Qoyod is a cloud-based accounting software for small and medium businesses. It allows users to manage customers and suppliers, issue invoices and quotes, and manage payroll and inventory.

Best Features

1. Local support by phone, email, WhatsApp.
2. Integration with Zapier.
3. Unlimited users (Extra cost 240.00 SAR/Year).
4. Public API for custom integrations

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 it's 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 it's 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