Your interactive reference guide to interpreting essential bookkeeping and tax terminology with professional clarity.
The government authority regulating taxes, customs, and electronic invoicing in Saudi Arabia.
An invoice issued and archived in a structured electronic format via compliant invoicing software.
An indirect tax imposed on all purchased and sold goods and services at a specified rate.
The 15-digit reference number assigned to a registered entity for VAT purposes.
A structured index of all accounts classified into assets, liabilities, equity, revenues, and expenses.
An accounting record showing debit and credit accounts resulting from every financial transaction.
The true amount incurred to purchase or manufacture a product or service including all direct/indirect expenses.
A predetermined estimated cost of producing one unit based on standard operating conditions.
All raw materials, work-in-progress, and finished goods held for sale owned by the business.
An operational document authorizing the manufacturing of a specific product quantity based on the BOM.
The digital system used to conduct retail customer transactions and issue instant invoices.
A designated organizational unit assigned expenses and revenues to evaluate operational performance.
The systematic allocation of the cost of a fixed asset over its useful productive life.
The financial margin between net sales revenue and cost of goods sold (COGS).
The remaining profit after deducting all operational, administrative, and tax expenses from total revenues.
An annual religious financial obligation calculated at a specified rate on the zakat base for enterprises.
The primary accounting book recording posted journal entries across all financial accounts.
An auditing worksheet summarizing debit and credit totals and balances to verify mathematical equality.
A financial statement showing the financial position through assets, liabilities, and equity at a specific date.
A financial statement summarizing business revenues and expenses to report net profit or loss over a period.