Zatca E-Invoicing Solutions Saudi Arabia, eInvoicing Zatca Phase 2

e-Invoicing – Zatca Phase 2

ZATCA Phase 2 Compliant e-Invoicing Solutions: Simplifying Digital Transactions in KSA

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e-Invoicing – Zatca Phase 2

LITS SERVICES e-Invoicing Solution: Your Path to ZATCA Compliance – Phase 2

LITS SERVICES offers a robust e-Invoicing software built on top of Dynamics 365, designed to empower your business to adapt seamlessly to the evolving market landscape. Our e-Invoicing feature within Dynamics 365 Finance and Dynamics 365 Supply Chain Management simplifies the compliance process with Saudi Arabian ZATCA regulations for businesses operating in the Kingdom.

Our specialized e-Invoicing software streamlines the electronic invoicing process, ensuring effortless adherence to ZATCA guidelines. For tailored solutions that perfectly align with ZATCA regulations, connect with us – experienced Microsoft Gold Partner in KSA. At LITS SERVICES, we excel at crafting comprehensive solutions within the Dynamics 365 framework, helping organizations tackle intricate challenges.

Discover the power of our e-Invoicing software, meticulously built on top of Dynamics 365. Reach out to us today for detailed information on how LITS SERVICES can transform your invoicing processes, ensuring compliance and efficiency every step of the way.

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Phase 2 of e-invoicing

ZATCA is executing the integration phases in several waves. Here are the highlights of the waves implemented.

Wave 1 under phase 2:

Businesses that were registered for VAT (Value Added Tax) and had revenues exceeding SAR 3 billion in 2021 fall under Wave 1 and must comply with the Phase 2 regulations starting from January 1, 2023.

Wave 2 under phase 2:

Businesses registered for Saudi Arabian Value Added Tax (VAT) with a turnover ranging from SAR 500 million to SAR 3 billion falls within Wave 2. These businesses must adhere to the regulations of “Phase 2,” which commenced on July 1, 2023.

Wave3 under Phase 2

Businesses registered for VAT with a turnover range between SAR 250 million and SAR 500 million in 2021 or 2022 are in “Wave 3” of Phase 2 e-invoicing. They must link their ERP or POS systems with ZATCA’s Fatoora portal, starting on October 1, 2023.

Wave 4 under phase 2

In this framework of phase 2, businesses with turnovers between SAR 150 million and SAR 250 million in either 2021 or 2022, fall under “Wave 4”. These businesses must integrate their ERP/POS systems with ZATCA’s e-invoicing portal, with the deadline set for November 1, 2023.

Wave 5 under phase 2

In the Wave 5 of phase 2, businesses registered for KSA VAT, with a turnover exceeding SAR 100 million during 2021 or 2022 comes under wave 5 under the phase 2 integration of e-invoicing. These businesses must integrate their ERP/POS systems with ZATCA portal, with the deadline set for December 1, 2023.

Wave 6 under phase 2

In this wave, businesses registered for KSA VAT with turnover above SAR 70 million in 2021 or 2022 must integrate their ERP or POS systems with ZATCA’s Fatoora portal, starting on January 1, 2024.

Wave 7 under Phase 2

In this wave of phase 2, businesses in Saudi Arabia registered for VAT with a turnover exceeding SAR 50 million in 2021 or 2022 are included. They must connect their ERP or POS systems with ZATCA’s Fatoora portal by February 1, 2024.

Wave 8 under Phase 2

ZATCA announces Wave 8 under Phase 2 of e-invoicing for Saudi Arabia. This applies to businesses registered for VAT with annual revenues surpassing SAR 40 million in 2021 or 2022. They must start integrating their ERP or POS systems with ZATCA’s Fatoora portal from March 1, 2024.

Solution available for Dynamics 365 Business Central, Finance and Operations or as customized solution

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What are the features of the 2^nd phase of e-invoicing?

Compliant accounting software will be connected to ZATCA’s system, enabling it to work seamlessly with ZATCA for tasks like tax clearance and reporting.
B2B invoices generated within the software that is compliant will be automatically posted to ZATCA’s e-invoicing system for verification on a real-time basis.
Once the details have been validated successfully, ZATCA (Fatoora portal) will mark the invoice as cleared by stamping and adding a QR code.