Compliance
In one sentenceThe business's adherence to the laws and regulations that apply to it and to its internal policies, such as Zakat, tax, e-invoicing and Saudi Labor Law requirements.
Simply put
Compliance means knowing the regulatory requirements on your business and meeting them on time: returns, invoices in the correct format, and keeping records.
Non-compliance costs penalties and delays, so the business follows its calendar of deadlines and who is responsible for each obligation.
Example
A trading company checks every quarter: was the VAT return filed on time? Are tax invoices cleared through the FATOORA platform? Are invoices kept for the whole statutory period?
in FullScreen ERP
The system tracks the submission status of invoices (accepted, rejected and pending) and keeps them for the statutory retention period. E-invoicing