E-invoicing is the process of generating invoices in a digital format, so you can issue and store them electronically. For KSA VAT taxpayers, e-invoices will resemble the VAT tax invoices that are generally issued, but will be generated through an online system.
E-invoicing can increase efficiency in transactions by making trade more seamless, efficient, and result in faster payments and reduced costs, whilst providing the government with greater insights on market conditions. This also enables fair competition, increases business competitiveness and improves consumer protection in the market, in line with international best practices.
From a security perspective, e-invoicing allows the government to detect and reduce the shadow economy and to monitor the movement of goods, services, and money in (near) real-time, depending on the model that will be implemented. This in turn would lead to achieving increased tax compliance rates, provide increased transparency on commercial transactions and allow data-informed decision making.
The kingdom of Saudi Arabia has also started its journey towards E-invoicing and E- Reporting. Traditionally invoices are issued manually or generated in paper format from computers etc. Electronic invoicing (e-Invoicing) is the generation of invoices in a structured electronic format.
How to Generate E-Invoice Report in Fresa Application
We have enabled the New Feature E-Invoice and the kingdom of Saudi Arabia has adopted the Global fashion of E-invoicing and E- Reporting.
Step1: Login with Fresa Application and go to the respective invoice that needs to generate the report.
Step2: Click on Report Button under the respective voucher
Step3: In Report Screen, select the report name as Saudi Tax Invoice-Arabic Jasper under Search Tab
Step4: The report Will be displayed with QR Code and all other required fields.
Step5: In QR Code we have provided the details like, Seller Name, VAT Registration number of the seller, Time stamp of the Electronic Invoice or Credit /Debit Note (with VAT), VAT Total.
Step6: We can download the Report Using Download option.
Step7: We have enabled the same in Standard Invoice Arabic with QR code – Jasper Format2
Step8: Go to the respective voucher, click on the report button and search as Standard Invoice Arabic with QR code – Jasper Format2 under search column
Step9: We can view the report enabled with QR Code.
Step10: We can Download the Report Using Download Option.