Accounting just got easier with WE
WE Accounting Solutions is a dedicated bookkeeping service in Saudi Arabia provided by a team of accounting experts that specializes in managing all accounting services for our clients.
We take pride in offering top-quality bookkeeping services in Saudi Arabia, with a team of experienced and accredited accountants dedicated to accuracy and compliance with market regulations.
Precise reporting of trading results is imperative for making informed decisions regarding the strategic direction of your business
Our comprehensive bookkeeping services enable companies to grow and achieve their goals without the need to hire in-house accountants and incur additional operating expenses. Instead, we provide all the necessary resources for an accounting department at competitive prices, delivering accurate results.
Bookkeeping
WE provides a comprehensive bookkeeping service designed to assist you in overseeing and managing all aspects of your company's financial processes, from maintaining accurate records to managing transactions and financial reporting.
Financial Statements
WE provides a record of the financial activities and position of a business that typically includes a balance sheet, income statement, and cash flow statement, and provides a summary of the financial performance and position of the entity.
Detailed Reports
WE provides detailed settlement reports on suppliers and customers, cost reports, inventory reports, and ratios the help understand the full financial position of the entity.
Consistent and up to date information
Monthly Reports
- Executive Summary
- Financial Statements
- Key Performance Indicators
- Detailed schedules of relevant accounts
Quarterly Reports
- Reviews & recommendations on financial performance
- Executive summary
- Financial statements
- Key Performance Indicators
- Detailed schedules of relevant accounts
Annual Reports
- Executive summary
- Unaudited financial statements based on internationally accepted reporting standards (IFRS), recommendations, and all supporting documents to be presented to the auditor
Believing in the fast paced nature of businesses, we provide various frequencies for updating your financial records, ranging from monthly to annually or any interval in between. This flexibility allows us to tailor our bookkeeping services to your specific needs and the nature of your business.
Trust is the foundation of great service
we believe in our core values that supports our profeesional bookkeeping services, we ensure that our clients can rely on the accuracy, integrity, and confidentiality of the financial information and support we provide. This commitment to trust forms the basis of our dedication to delivering high-quality bookkeeping services that meet the unique needs and expectations of each client.
| Our Values | |
|---|---|
| ✓ Trust | ✓ Expertise |
| ✓ Accuracy | ✓ Experience |
| ✓ Confidentiality | ✓ Professional |
We News
The General Authority of Zakat and Tax announced the approval of its Board of Directors on the electronic invoicing regulation, which was published today Friday, corresponding to the 4th of December 2020 AD, as the electronic invoice is defined according to the regulation as a tax invoice that is issued electronically through an electronic means, and is issued by each taxpayer subject to Value-added tax (VAT) in the Kingdom. The electronic invoicing regulation contains seven articles that regulate the mechanism for issuing and keeping electronic invoices for the taxpayers, and clarifies the provisions, procedures and individuals subject to it, in addition to the procedural rules and time limits, as the authority confirmed that the regulation has come into force from the date of publication, noting that it will be “mandatory” for taxpayers subject to it to issue and save invoices on the 4th of December 2021 AD. The General Authority for Zakat and Tax invites all taxpayers to view the E-invoicing list through its website via the following link, and to contact it via the unified number (19993), which will be available 24 hours a day, and seven days a week, for any inquiries or questions related to electronic invoicing. It is worth noting that the electronic invoicing system aims to limit the volume of Shadow Economy transactions, in addition to combating Commercial Concealment. The General Authority for Zakat and Tax had previously published the draft regulations for public feedback on the 17th of last September. Translated from: https://gazt.gov.sa/ar/MediaCenter/News/Pages/News_521.aspx
Okaz sources revealed that the date of implementation of the Ministry of Human Resources and Social Development’s decision to resettle the accounting profession begins at the beginning of Dhu al-Qa'dah 1442, that is, after 170 days, and includes 19 classifications of the profession. The sources also confirmed that the ministry will provide a package of incentives and support to the private sector in employing Saudi accountants, including support for the recruitment process, searching for suitable employees, supporting training and qualification necessary to ensure job stability for accountants and giving priority to benefiting from all Saudization support programs available to the system. The sources indicated that the ministry has classified 19 accounting professions targeted by the Saudization, which include: Director of Financial Affairs and Accounting, Director of Accounts and Budget, Director of the Financial Reports Department, Director of the Zakat and Taxes Department, Director of the Internal Auditing Department, Director of the General Auditing Department, Head of the Internal Audit Program, Financial Controller, Internal Auditor, Senior Financial Auditor, General Accountant, Cost Accountant, Auditor, General Accounts Technician, Auditing Technician, Cost Accounts Technician, Financial Audit Supervisor, Cost Clerk, Finance Clerk. According to the procedural guide for the decision to localize the accounting professions, the Ministry stated that in the case the establishment does not adhere to the required nationalization percentage, all electronic transactions for the accounting professions will be stopped (such as issuing visas for professionals, transferring a service to the profession, changing the profession, work permits for the profession automatically for the establishment) in addition to the penalty for violating the localization of professions limited to Saudis, according to the system. While the Ministry stressed that it will impose statutory penalties for any fraud in the event that any worker in the facility is caught practicing any of the targeted accounting professions under another professional title, different from the name written in the work permit. Saudi accountants are required to obtain professional accreditation from the Saudi Organization for Accountants. With respect to the salaries, for holders of Bachelor’s degree, it will not be less than 6000 riyals and for Diploma degree, not less than 4,500 riyals. The Ministry seeks to raise the contribution of national forces in the labour market, and raise the productivity of national human cadres through various possibilities and continuous training. Translated from: https://www.okaz.com.sa/news/local/2052861
The Ministry of Commerce and several other ministries are facing an intense battle, at this time, to reduce the trade cover-up, in order to achieve noble goals, to achieve national financial stability and sustainability. Therefore, it is essential that we all contribute to achieving the objectives of the national program to combat trade concealment, and give our opinion on that. The issue of the commercial cover-up is closely related to the topic of this article in several ways. One of the most important tools for controlling businesses, including Small & Medium Enterprises SMEs, is financial statements. The financial statements are the product of bookkeeping in which all financial operations are recorded, in order to identify their financial position, the results of doing business and their profitability. Which is performed in order to preserve the rights of the owners of these companies first, and then in order to implement a high-governance environment that preserves all the rights of stakeholders, including creditors, customers, workers and the state. The international trend towards implementing governance in all activities, and as a result of the failure of a large number of companies to continue or fulfil their obligations, the need to apply the concept of convergence or harmonization arose with regard to the accounting standards used in establishing and recording large or small business activities. This activity began since the beginning of this century, after the major American companies failed to continue and resist. The reasons for these collapses were attributed to weak governance, including the interpretations of American accounting standards FASB. Which is why the global trend towards standardization of accounting standards has become supported by organizations and countries to achieve uniformity to provide an appropriate environment to enhance investment tools and preserve the rights of capital owners. The International Financial Reporting Standards, known as IFRS, began as a guarantee of generally accepted accounting principles GAAP to standardize the standards used worldwide within a project sponsored by the International Accounting Standards Board known as IASB, and countries began to adopt and implement them for the gains that they will achieve through the process of standardizing standards in order to attract investors, and unify tools for communicating messages related to financial results for the sake of globalization in which the world is moving. In the Kingdom of Saudi Arabia, the shift towards international standards (IFRS) began to be applied to joint stock companies listed in the financial market from the beginning of 2017, to be followed in the following year by the rest of the companies. The experience of applying international standards is rich and deserves to be studied to see the extent of its benefits. However, in the field of small and medium enterprises (SMES), including the micro-enterprises, which represent a very large percentage of the authorized establishments in the Kingdom (more than 97 percent) the existence of accounting records is not a legal requirement. The point of view, may be that complying with this will add very high costs to this type of facility. Although bookkeeping, presenting and auditing financial statements, it will have a greater positive impact in providing financing for these facilities, an opportunity to capture investors in the market to achieve growth for them, and evidence that proves the sources of funds and the absence of manipulation or exploitation of these facilities by a group that satisfies a little in exchange for the concealment of a lot. Cultivating a culture of registration, registration, bookkeeping, and the regularity of financial transactions, will enhance the growth of small and medium enterprises, and the sustainability of their business, and will contribute to the localization of many accounting functions within the chain of accounting and financial services required by this process. It may eliminate illegal financial operations. One of the steps in corporate governance will be through the application of international standards. Translated from: https://www.aleqt.com/2020/09/02/article_1911271.html
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The General Authority of Zakat and Tax announced the approval of its Board of Directors on the electronic invoicing regulation, which was published today Friday, corresponding to the 4th of December 2020 AD, as the electronic invoice is defined according to the regulation as a tax invoice that is issued electronically through an electronic means, and is issued by each taxpayer subject to Value-added tax (VAT) in the Kingdom. The electronic invoicing regulation contains seven articles that regulate the mechanism for issuing and keeping electronic invoices for the taxpayers, and clarifies the provisions, procedures and individuals subject to it, in addition to the procedural rules and time limits, as the authority confirmed that the regulation has come into force from the date of publication, noting that it will be “mandatory” for taxpayers subject to it to issue and save invoices on the 4th of December 2021 AD. The General Authority for Zakat and Tax invites all taxpayers to view the E-invoicing list through its website via the following link, and to contact it via the unified number (19993), which will be available 24 hours a day, and seven days a week, for any inquiries or questions related to electronic invoicing. It is worth noting that the electronic invoicing system aims to limit the volume of Shadow Economy transactions, in addition to combating Commercial Concealment. The General Authority for Zakat and Tax had previously published the draft regulations for public feedback on the 17th of last September. Translated from: https://gazt.gov.sa/ar/MediaCenter/News/Pages/News_521.aspx
Okaz sources revealed that the date of implementation of the Ministry of Human Resources and Social Development’s decision to resettle the accounting profession begins at the beginning of Dhu al-Qa'dah 1442, that is, after 170 days, and includes 19 classifications of the profession. The sources also confirmed that the ministry will provide a package of incentives and support to the private sector in employing Saudi accountants, including support for the recruitment process, searching for suitable employees, supporting training and qualification necessary to ensure job stability for accountants and giving priority to benefiting from all Saudization support programs available to the system. The sources indicated that the ministry has classified 19 accounting professions targeted by the Saudization, which include: Director of Financial Affairs and Accounting, Director of Accounts and Budget, Director of the Financial Reports Department, Director of the Zakat and Taxes Department, Director of the Internal Auditing Department, Director of the General Auditing Department, Head of the Internal Audit Program, Financial Controller, Internal Auditor, Senior Financial Auditor, General Accountant, Cost Accountant, Auditor, General Accounts Technician, Auditing Technician, Cost Accounts Technician, Financial Audit Supervisor, Cost Clerk, Finance Clerk. According to the procedural guide for the decision to localize the accounting professions, the Ministry stated that in the case the establishment does not adhere to the required nationalization percentage, all electronic transactions for the accounting professions will be stopped (such as issuing visas for professionals, transferring a service to the profession, changing the profession, work permits for the profession automatically for the establishment) in addition to the penalty for violating the localization of professions limited to Saudis, according to the system. While the Ministry stressed that it will impose statutory penalties for any fraud in the event that any worker in the facility is caught practicing any of the targeted accounting professions under another professional title, different from the name written in the work permit. Saudi accountants are required to obtain professional accreditation from the Saudi Organization for Accountants. With respect to the salaries, for holders of Bachelor’s degree, it will not be less than 6000 riyals and for Diploma degree, not less than 4,500 riyals. The Ministry seeks to raise the contribution of national forces in the labour market, and raise the productivity of national human cadres through various possibilities and continuous training. Translated from: https://www.okaz.com.sa/news/local/2052861
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