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Table of Contents
. Setup
. Training
. Remote Accounting and Bookkeeping
. Account Arrangement Service
. Tax Return Review and Filing Service
. Account Transfer
. Invoice Design
. Opening Balances
. Consultations
. Account Transfer
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Qoyod Services
Companies and organizations using the Qoyod accounting system need optimal use of all system features, as well as regulatory compliance with the Zakat, Tax and Customs Authority, through proper account registration and periodic submission of tax and Zakat returns. This helps avoid penalties and fines.
Accordingly, Qoyod offers numerous necessary services to its clients to reach the required level of compliance, as well as obtain accurate periodic reports that help in making the right decisions.
– Setup
– Invoice Design
– Training
– Opening Balances
– Remote Accounting and Bookkeeping
– Accounting Consultation
– Account Arrangement Service
– Tax Consultation
– Tax Return Filing
– Financial Consultation
– Account Transfer
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Setup:
Service Description:
This service allows you to establish and prepare the appropriate chart of accounts for your business in a 4-hour visit by our accounting firm partners so you can use the Qoyod system directly and benefit from all of Qoyod’s smart features.
Service Price:
Online: SAR 575 (VAT inclusive)
Training:
Service Description:
This service allows you to fully train your employees on the Qoyod system in a 4-hour visit by our accounting firm partners so you can use all the system’s features efficiently and professionally.
Service Price:
Online: SAR 575 (VAT inclusive)
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Remote Accounting and Bookkeeping:
Service Description:
The remote accounting and bookkeeping service includes recording and organizing financial transactions in the Qoyod accounting system based on documents and in accordance with accounting standards, and issuing financial reports on a monthly basis.
Financial Accuracy: To ensure that financial records are accurate and up-to-date, which is necessary for making informed decisions.
Regulatory Compliance: The remote accounting and bookkeeping service helps comply with Zakat/tax laws and financial regulations, helping to avoid legal problems and penalties.
Planning and Budgeting: Accurate financial records are necessary for financial planning and future budgeting, helping organizations manage their resources and plan for future periods.
Cash Flow Management: Helps monitor and manage cash flows to ensure the organization has sufficient funds to operate and invest.
Performance Tracking: The service provides insights into the organization’s financial performance, highlighting profitable areas and identifying areas that need improvement.
Investor Relations: For organizations seeking investment, maintaining well-kept financial records is essential to attract and retain investors.
Operational Efficiency: Streamlined bookkeeping processes can contribute to improving overall operational efficiency by reducing errors and saving time.
Service Scope:
Service Name | Activity Frequency
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Recording transactions in the client’s account in the Qoyod accounting system | Monthly
Preparing the statement of financial position and profit and loss statement on a monthly basis | Monthly
Preparing the company’s annual financial statements in accordance with the financial reporting framework used (in English and Arabic) | Annually
Preparing monthly bank reconciliation (up to 2 bank accounts) | Monthly
Preparing reconciliation of related party balances at year-end | Annually
Recording monthly salary accrual and payment entries after obtaining the salary statement approved by the client | Monthly
Providing variance analysis reports at year-end | Annually
Required Documents Before Starting:
1. Opening trial balance or latest opening balance or audited financial position
2. Latest financial data (financial statements from the previous month)
3. Articles of Association
4. Authority delegation matrix
5. Commercial registration
Remote Accounting and Bookkeeping Service Pricing Table (Monthly):
Pricing Criterion | Service Price (VAT inclusive)
— | —
Monthly expense volume less than SAR 100,000 | SAR 1,380
Monthly expense volume from SAR 100,000 to 500,000 | SAR 2,760
Monthly expense volume from SAR 500,000 to 1 million | SAR 4,140
Monthly expense volume greater than SAR 1 million | Custom pricing
Remote Accounting and Bookkeeping Service Pricing Table (Monthly) for Retail Business:
Pricing Criterion | Service Price (VAT inclusive)
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Number of monthly transactions less than 500 | SAR 3,450
Number of monthly transactions from 500 to 1,000 | SAR 4,830
Number of monthly transactions more than 1,000 | Custom pricing
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Account Arrangement Service:
Service Description:
Accounting records are accumulated and linked periods, so before starting a new period, you must review the previous records and verify their accuracy and determine their correctness, and identify unrecorded transactions to be entered as part of the remote accounting and bookkeeping service. Here are the procedures followed in the account arrangement service:
– Account review
– Verification of missing transactions
– Financial data review
– Zakat compliance verification
– Historical data review
– Document organization and preservation
Account Arrangement Service Pricing Table:
Pricing Criterion | Service Price (VAT inclusive)
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Number of monthly transactions less than 100 | SAR 1,035
Number of monthly transactions from 100 to 200 | SAR 1,380
Number of monthly transactions from 200 to less than 350 | SAR 2,070
Number of transactions greater than 350 | SAR 5 per transaction
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Tax Return Review and Filing Service:
Service Description:
Qoyod offers, as part of its professional services scope, a tax return review and filing service. The purpose of the service is to ensure the accuracy and correctness of the data contained in the tax return before submitting it to the competent authorities, as well as filing the return in the correct way to ensure full compliance with the Zakat, Tax and Customs Authority.
Service Price: Varies according to the size of work and tax periods. The price is determined after contacting the specialist team through “Professional Services” within the system.
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Invoice Design:
Service Description:
Through this service, your sales invoice is designed in compliance with the system requirements by our accounting firm partners according to your preference.
Requirements for Service Implementation:
1. Request from the client a previous template they have or a proposed template.
2. The design is in accordance with the system’s capabilities.
3. The design is in (Quotation – Sales Invoice – Credit Notes).
Service Price: SAR 230 (VAT inclusive)
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Opening Balances:
Service Description:
Balances are transferred from another program to Qoyod based on the statements you provide.
Requirements for Service Implementation:
1. Trial balance report in Excel format to transfer the balances.
The opening balances service includes only:
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Customer balances
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Supplier balances
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Product balances
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Account balances
Service Price:
On-site: SAR 800 (VAT inclusive)
Online: SAR 575 (VAT inclusive)
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Consultations:
Service Description:
Through this service, you receive a consultation according to your needs from the consultations listed below provided by our authorized accounting firm partners:
– Accounting Consultation
– Tax Consultation
– Financial Consultation
Service Price:
Accounting Consultation: SAR 230 (VAT inclusive)
Tax Consultation: SAR 230 (VAT inclusive)
Financial Consultation: SAR 345 (VAT inclusive)
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Account Transfer:
Service Description:
Through this service, previous balances are transferred to your entity in Qoyod.
The data transfer service includes:
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Invoice transfer
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Journal entry transfer
Service Price:
The service price varies from client to client according to the volume of transactions. We’d be happy to hear from you to provide you with prices.
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How to Request a Service
To request any professional accounting service, click on the dropdown menu and select Professional Services, then select the required service and click “Contact the Team” and the specialist team will contact you within 48 hours.
Note: All professional accounting services are provided online and on-site services are not available at the moment.
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Professional Services Discount Policy:
Professional service prices are fixed and discounts are not available at the moment. If there are seasonal offers, they will be announced officially. If a client asks for a discount on professional services, clearly state that prices are fixed and do not transfer the conversation to the team due to a discount inquiry.
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Follow-up on a Professional Service Request:
After submitting the service request from within the system, the team will contact the client within two business days to schedule the service and send a quote. If 48 hours have passed and the client has not been contacted, ask them for the entity number, entity name, and contact number and transfer the conversation to a support representative.
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Distinguishing Between Inquiry and Service Request:
If the client is only asking about details or prices of professional services (such as: What is the setup price? What does the account transfer service include?) — answer directly from the content without transferring and without collecting client data. If the client is ready and wants to actually request the service — direct them to submit the request from within the system: Dropdown Menu > Professional Services > Select the Service > Contact the Team. Transfer the conversation to the team only in complex cases that require human intervention (such as: transferring very large amounts of data from a proprietary platform, an exceptional case outside the scope).
