Odoo Accounting Solutions

Manage your finances with confidence using Odoo Accounting, configured for full Saudi regulatory compliance by New Update IT in Dammam. From ZATCA Phase 2 e-invoicing to VAT reporting, our accounting solutions ensure your books are accurate, your reports are timely, and your business stays compliant with all Kingdom of Saudi Arabia financial regulations.

ZATCA E-Invoicing Compliance (Phase 2)

Saudi Arabia mandates electronic invoicing through the ZATCA Fatoora platform. We configure Odoo to generate XML e-invoices that meet all ZATCA Phase 2 requirements, including cryptographic stamping, QR code generation, UUID assignment, and real-time or near-real-time clearance and reporting to the ZATCA portal. Our solution handles both B2B and B2C invoice types, credit notes, and debit notes in full compliance with the latest ZATCA technical specifications.

Saudi VAT & Tax Management

We configure your Odoo chart of accounts, tax codes, and fiscal positions to handle Saudi 15% VAT accurately across all transaction types. The system automatically calculates VAT on sales, purchases, and expense claims, tracks input and output tax, and generates the data needed for your periodic VAT returns. We also handle zero-rated transactions, exempt supplies, and reverse charge mechanisms for imported services.

Multi-Currency & Bank Reconciliation

Doing business internationally means managing multiple currencies. Odoo Accounting handles SAR alongside USD, EUR, AED, and any other currency your business requires, with automatic exchange rate updates and proper gain/loss accounting. Our bank reconciliation setup imports statements from Saudi banks and matches them against your ledger entries, dramatically reducing the time your finance team spends on monthly reconciliation.

Financial Reporting & Audit Readiness

Generate balance sheets, profit and loss statements, cash flow reports, aged receivables, and aged payables with a single click. We configure Odoo to produce reports that align with Saudi accounting standards and your auditor expectations. Complete audit trails, journal entry tracking, and user access logs ensure your financial data is transparent and verifiable at all times.

Ready to Get Started?

Get ZATCA-compliant accounting that works for your business. Contact New Update IT at 0504984455 or email info@newupdate.sa to discuss your accounting requirements. Schedule a Free Consultation