THE PLATFORM.
Record to report, on one ledger.
Every module posts through the same accounting core, under the same rules. Sales, purchasing, payroll and fixed assets are sub-ledgers of the books, not systems beside them. Arabic and English throughout, right to left where it should be.
IFRS® ACCOUNTING STANDARDSBUILT IN · RULES ON EVERY POSTING
The modules in scope for your company are confirmed in the scoped workshop, with any exceptions written down before a proposal.
NOTE 5
The platform.
Eleven modules, one accounting core. Each module keeps its own records and posts its journals to the general ledger, so a figure in the statements traces back to the document behind it. Exhibit 5 shows one invoice, posted.
| ACCOUNT | REFERENCE | DEBIT (SAR) | CREDIT (SAR) |
|---|---|---|---|
| Trade receivables | INV-0142 | 11,500.00 | |
| Revenue from contracts with customers | INV-0142 | 10,000.00 | |
| VAT output tax, 15% | INV-0142 | 1,500.00 | |
| Journal total | 11,500.00 | 11,500.00 |
Accounting core.
A journal posts only when it balances to the halala, every line sits on a postable account with the dimensions it requires, and the date is after the locked period. A repeated submission returns the journal already posted; it never posts twice.
Posted journals are never edited. A correction is a reversal and a new journal, and a module's journal is corrected only through that module.
Financial statements.
Your statement layout, read against the books: financial position, comprehensive income, changes in equity, cash flows and the notes. Identities are checked for every column, and a failed check is reported, never hidden.
Sales and ZATCA e-invoicing.
Tax invoices, simplified invoices, credit and debit notes under ZATCA Phase 2: UBL, cryptographic stamp, QR code, invoice hash chain, clearance and reporting. Saudi Arabia only.
Invoices in foreign currency are recorded at the spot rate under IAS 21. Customer receipts, open items, ageing and statements come from the same records.
Purchasing and job costing.
Purchase orders with approval limits, goods received, supplier invoices matched to both. Cost and budget per job, so contract revenue can be measured by progress.
Inventory.
Stock by item and location at the cost formula IAS 2 allows, with counts, slow-moving bands and net realisable value written down where it falls below cost.
Payroll and HR.
Monthly runs, the WPS salary file, GOSI, leave balances and final settlements under the Labour Law.
The end-of-service obligation is valued under IAS 19 by the projected unit credit method from the payroll itself, on the assumptions you agree with your actuary.
Fixed assets.
An asset-by-asset register under IAS 16, IAS 38 and IAS 36: depreciation by month, disposals, and the impairment review the close asks for.
Payment controls.
Money leaves only through a controlled, journaled path: requested, approved at the levels your policy sets, released and recorded.
Path to listing.
The steps to an IPO in the Kingdom, from the move to full IFRS Accounting Standards to the prospectus, each with its owner, its evidence and its status. See Note 3.
People and access.
Sign-in by e-mail code and authenticator app. Roles separate who prepares, who reviews and who approves, and every sign-in and role change is logged.
Local content.
The entity-level local content score in the Authority's template, from payroll by nationality, purchasing by supplier origin, capacity-building spend and the asset and lease registers, with the evidence for the approved audit firm. Each government contract's target, phased plan and local content reached are tracked from job costing, and purchases of mandatory-list items from non-national sources are flagged for review. See Note 2.6.
NEXT
See the modules on your own close.
BOOK YOUR FINANCE-READINESS DEMOThe standards each module applies are set out in Notes 1 and 2.