This article explains how to configure the general settings of your organization in Qoyod, including company information, tax settings, supply date, account closing, and the link with government entities.
Path in Qoyod
Settings › General Settings
Organization information
From the General Settings page you can:
- Upload the organization logo.
- Enter contact information and addresses.
- Enter the tax number.
- Select the tax basis type.
This information is reflected on the invoices and quotations sent to customers.
Editing the tax number for organizations enabled for E-Invoicing
- When you update the tax number in General Settings, the change applies only to new, draft, and pending-approval invoices, in line with the requirements of ZATCA (Zakat, Tax and Customs Authority) for organizations subject to E-Invoicing in the Kingdom of Saudi Arabia.
Supply date used in the tax return
This setting determines the date on which transactions appear on the tax return:
- Issue date: the date set when the invoice is issued.
- Due date: the date payment is due.
- The one used in the Kingdom of Saudi Arabia is the issue date.
Organization contracting with government entities
When this option is enabled, VAT is calculated in the tax return based on the payment date of invoices and credit notes for government customers, instead of the issue or due date.
- When more than one VAT rate exists, the proportional allocation principle is applied to the paid amount.
- Enabling the option applies retroactively from the date the decision was issued: 1 November 2021.
- After enabling the option and selecting government customers, the option cannot be canceled or modified.
Fiscal year start date and account closing
Start of the fiscal year
Used to automatically close profits and losses to the retained earnings account at the beginning of each new fiscal year.
Account closing date
When a closing date is set, the system blocks any transaction entered before that date.
- The closing date must be set only after fully completing all transactions related to the previous period. Any transaction the user tries to enter for a date before the closing will be rejected by the system.
