What is a VAT Return?
A VAT return is an official document that contains details of the VAT liability and payments due for a taxpayer during a specific time period. This document…
Articles
Guides to accounting, tax and running a business in Saudi Arabia.
What is Account Closing?
Account closing (or closing entries) is an accounting process that takes place at the end of the accounting period (usually at the end of the fiscal year on…
What is CIA Certification?
This certification represents the global gold standard for internal auditing and reflects a high level of professional competence and credibility. For…
What is Cloud Accounting?
Cloud accounting is a modern accounting system that operates entirely online, where all financial data is stored and processed on secure servers via the…
What is Debit?
The importance of these two concepts extends to all aspects of financial recording, from simple business transactions to complex financial statements of large…
What is Electronic Invoicing?
Electronic invoicing is defined as the process of exchanging financial documents between commercial parties in a structured digital format, without the need…
What is GOSI (General Organization for Social Insurance)?
In this comprehensive guide, we explain in detail the mechanism for calculating GOSI (General Organization for Social Insurance) deductions, the rates applied…
What Is Input Tax Deduction?
Input tax deduction is the right of a business registered for VAT to recover the tax it paid on its purchases and expenses related to its economic activity.…
What is Integrated Reporting?
Integrated reporting is a report that combines financial and non-financial information to provide a comprehensive view of how a company creates value in the…
What is Inventory Management?
Inventory management is a comprehensive process that includes planning, organizing, monitoring, and controlling all aspects of inventory within a company.…
What is Mudad Platform?
Mudad platform is an integrated electronic system launched by the General Organization for Social Insurance in Saudi Arabia to manage payroll and insurance…
What is Petty Cash?
Petty cash is a specific amount of cash allocated to a particular employee or department in the company, intended to cover small and urgent expenses that are…
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