E-invoicing is a process that converts paper invoices into electronic invoices. The new procedure allows processing and exchanging invoices, credit notes, etc., into a structured electronic document format. As per ZATCA, Saudi Arabia , the people/ entities that need to adhere to E-invoicing are taxable people in Saudi Arabia (The Residents) , third parties issuing invoices on behalf of taxpayers subject to VAT and businesses that do any type of transactions. E-invoicing will become mandatory starting from 4 December 2021 in Saudi Arabia.
As per ZATCA Phase One, known as the “Generation phase” and enforceable as of December 4, 2021. Phase Two, known as the “Integration phase” and enforceable starting from January 1, 2023. The technical requirements need to be implemented by your solution providers or upgrade to a compliant electronic system. E-invoices for Phase 1 are similar to current tax invoices, with minimum additional fields.
TRAACS can generate e-invoice stamped with QR codes with no extra effort. TRAACS has a completely automated invoicing system to improve your billing performance and smooth reconciliation with Tax authority.
Make sure your Travel accounting system is compliant with above 14 mandatory points, or you may end up paying heavy fines after 04th December 2021.If you want to know whether your existing Accounting vendor is approved by ZATCA, here is an easy way.
Click here and check for your accounting service provider name.
Access critical information timely via regular reports pertaining to Back-office, Corporate Clients, suppliers & operations to control the direction of your agency business growth. The total ERP solution will give the customized control and business acumen that is needed to succeed in today’s highly competitive business environment.
Avoid revenue leakage and increase revenue opportunities by utilizing the TRAACS automation features for BSP & Corporate Card reconciliation, Automatic ADM Trackers, Auto Invoicing and Credit control improving financial performance and smooth customer relationship.
Use TRAACS to get more accurate segment reporting such as GDS reports. More accurate segment based reporting has a direct implication on your acumen to make data driven negotiations with supplier segments like Airlines, hotel and other suppliers
Multi GDS Integration & LCC Integration
Instant invoicing for all Online Sales
Hotel – Car -Visa -Insurance and Other Services
Service Fee / Discount Automation
Automatic Reconciliation for BSP – LCC – Hotel
Other Non-Air Supplier Reconciliation
Corporate Card Reconciliation
Auto Currency Revaluation
Realtime & Multi Currency
Flexible Chart of Accounts
General Ledger Modules
A/P – A/R Modules
Billing Tax and Fixed Assets
Daily Sales Report
200+ Financial Reports
Nucore’s Agency Management Platform provided a robust platform to establish a sustainable business environment for all client services as well consolidated management reporting of the TMC. We are extremely delighted to have partnered with NUCORE to provide our front,middle and back office solutions. The MIS reporting systems is detailed and has assisted the management to take faster decisions with a view of improving customer service delivery.
Almost all technology projects engender a reasonable amount of fear related to its budget, its impact on the working of business and so on. When Hala Travel Management needed to upgrade their front & back office all these concerns were discussed.We needed to incorporate our own world class experience from around the globe and ensure this was implanted into the DNA of the new system.
The TRAACS and their (BI) Business intelligence tool truly unlocked the potential and accelerate the scale of our business. I am pretty confident Nu core’s excellence and efficiency not only limited Asia, Middle East and Africa, but an acceptance in entire travel trade spectrum in the near future. I wish them all success.
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