You’ve been walking around in the business world, hesitating in your steps, passing through busy offices filled with complex accounts. Your past experiences have been full of challenges, as accounting has been a stumbling block in the way of your financial success, but this time, I felt something different in the air, as there was a ritual of trust and certainty surrounding you. And you weren’t alone on your journey this time, as suddenly you get a shout from an accounting program approved by the Zakat and Income Authority, Qoyod! You start to wonder about this magical program that can change your view of accounting forever. When you explore the advantages of this dazzling program, you realize that it is not just an ordinary accounting program, and here we will explain its importance to you, so follow us.
How to select the best accounting program approved by the Zakat and Income Authority
When it comes to selecting the best accounting program approved for your enterprise, there are several factors that must be taken into account, the most important of which are the following:
Reliability and credibility
Reliability and credibility are important when choosing an approved accounting program for your organization, as you must check whether the program is approved by the competent financial authorities in your country, such as the Zakat and Income Authority, thus ensuring that the program adheres to the applicable accounting standards and provides accurate and reliable reports.
Ease of use
The accounting program should be easy to use and uncomplicated, so that its users do not require much scientific or practical experience in accounting, and it is preferable that the program be characterized by a simple and organized interface and that the navigation between functions and features is easy and direct.
The accounting program should include a set of distinctive reports related to the daily transactions of the institution. These reports may include major financial reports, such as the income statement, profit and loss statement, tax reports, and other management reports needed by decision-makers in the institution.
Multiple-chart of accounts
The multi-chart of accounts is an essential part of any approved accounting program, as the tree must include all the accounting items that your organization needs and be able to accurately calculate credit and debit balances, which allows you to enter and track all financial and accounting operations of the organization effectively.
Integration with other systems
It may be useful for the accounting program to be able to integrate with other enterprise systems, such as the inventory management system or the customer relationship management system; thus, it helps to exchange data smoothly between different systems, avoid manual data entry duplication, and improve business efficiency.
Requirements for the best accounting program
When using an accounting program approved by the Zakat and Income Authority of Saudi Arabia, there are a set of requirements to be met in these programs, the most important of which are the following:
Compliance with data and information security requirements
The accounting program must comply with data protection requirements and sensitive information within Saudi Arabia, including: strong security mechanisms; data protection against unauthorized access; and manipulation.
Disclosure of attempts at data manipulation
The accounting program that you wish to select should include a dedicated mechanism to detect any attempts to manipulate data previously stored on the system server; this is aimed at ensuring the validity and reliability of accounting data.
Connect to the Internet.
Any approved accounting software must have the ability to connect to the Internet, as this allows for software updates, downloading necessary updates, as well as facilitating transmissions and electronic receipt of accounting information.
Connecting the program to external systems
The accounting program should be able to link itself to the external systems used in other organizations, and this will be achieved through the use of the application programming interface (API) and the software development kit (SDK) to facilitate the exchange of data between the accounting program and other systems.
Creation of an encryption seal for electronic invoices
An approved accounting program should provide for the creation of an electronic invoicing encryption seal to ensure the integrity and safety of invoices and avoid tampering with them. It should be noted that such a seal may contain a digital signature or a specific and verifiable identification code.
Create a globally unified identification number on the invoice.
The accounting software must be able to generate a globally unified identification number in the invoice, as this number helps to distinguish invoices, document them uniquely, and is important for accounting and tax treatment purposes.
Why is Qoyod the best accounting program approved by the Zakat and Income Authority?
The Qoyod accounting program is of great importance in the accounting operations of companies and institutions, including the following:
Coding and building the data correctly
If you are wondering: What accounting software is used in Saudi Arabia? Qoyod tops the list, as it helps in organizing and arranging accounting data in a correct and systematic manner, which identifies and arranges the main book accounts and sub-accounts, making it easier to understand and analyze financial statements.
Support for formality requirements and electronic invoicing characteristics
The program helps to ensure that the invoices issued meet the required formal requirements and contain all necessary information, which can also support the issuance of electronic invoices and their safe and orderly storage; this makes it the best accounting program approved by the Zakat and Income Authority.
Credit and debit notices associated with invoices
If you are wondering: What programs are used in accounting? The answer is the Qoyod program, which provides debt and credit notices associated with invoices received or issued; thus, this facilitates the tracking of the status of financial invoices and the verification of financial transactions.
Supporting synchronization mechanisms and sending invoices to the Zakat and Income Authority
Qoyod can support various mechanisms to synchronize accounting data and send invoices and financial reports to the Zakat and Income Authority, thus facilitating compliance with legal requirements, submitting the required reports reliably and efficiently, and making it the best accounting program approved by the Zakat and Income Authority.
Using modern technical tools consistent with the requirements of the Zakat and Income Authority
The Qoyod Accounting Program provides the use of modern technical tools that comply with the requirements of the Zakat and Income Authority, and this can include the use of encryption and security techniques to protect financial data and ensure its integrity.
Support for reporting and extracting tax data
Qoyod can also generate detailed financial reports and extract the required tax data; thus, this facilitates tax submission and compliance with tax laws.
The program helps in organizing accounting data in a systematic and organized manner, as accounts and transactions can be classified according to the structure of approved accounting accounts, making them more accessible and analyzed.
The accuracy of the information
Through the application of formal requirements and accounting rules, the program helps ensure the accuracy of the recorded information by verifying the authenticity of the recordings and ensuring that there are no errors in accounting transactions.
Support for electronic invoices
The program is one of the approved electronic invoicing programs and can safely and systematically generate and store invoices; this allows for a simplified invoicing process, tracking, and facilitating the retention process for audit and accounting purposes.
Control of accounts
If you are looking for accounting programs approved by the Zakat and Income Authority, you will no doubt go through the Qoyod program, as it can track accounts receivable and credit and notify users of financial transactions relating to those accounts, thus providing a comprehensive view of financial information, facilitating the control of accounts, and verifying financial balance.
The program allows synchronizing accounting data across several systems or branches, making it among the accounting programs approved in Saudi Arabia, and it can also update data automatically and share it between different branches, which ensures information compatibility and avoids data conflicts.
Financial and tax reports
The program can generate detailed financial reports, extract the required tax data, make it the best accounting program approved by the Zakat and Income Authority, and prepare income, profit, loss, general balance, and other significant financial reports.
Do not let complex data put pressure on your shoulders, but pull it and make it work for you, so rely on an accounting program approved by the Zakat and Income Authority, such as the Qoyod program, to control your financial operations and achieve the success you deserve, and always remember that innovation and development are the keys to success in the business world. This amazing program is the magic solution that guarantees you financial and tax compliance with ease, and thanks to this accredited program, you can enjoy the freedom to innovate and focus on the growth of your business instead of worrying about tax laws and the obligations of the Zakat and Income Authority. It provides you with the necessary support and tools to manage accounts and reports accurately and reliably.
Prepare for the future and prepare for the complete transformation of your accounting approach; Koyod is your ideal partner for achieving full financial and tax compliance, and it is worth mentioning that it also provides all its clients: electronic invoicing systems, as well as the sales point system, stores, customers, etc., making it the best integrated accounting program.
Now that you know what the best accounting program is, approved by the Zakat and Income Authority, try Qoyod now for free for 14 days and enjoy the confidence and comfort that this magic program gives you.