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What is E-invoicing Saudi Arabia? Who is required to adhere to this?

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.

Readiness of  Your Travel Agency Billing System for E-invoice Phase One By 4th Dec 2021

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.

Click here to read FAQ on  ZATCA E-Invoice

Nucore is a ZATCA approved vendor and TRAACS is fully compliant with E-Invoicing

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.

Watch video for more details on E-Invoicing (Fatoora) and How TRAACS generates E-Invoices in simple steps.

Understand more How TRAACS helps your Travel Agency to prepare towards E-Invoicing mandate by ZATCA Saudi Arabia.

Know More

TRAACS powers 200+ agents in KSA alone and
600+ customers in 34 counrtries.

Know more about Traacs

Feature-rich, financial solutions to reduce overhead, operating costs and providing the intelligence and insights to maximize your revenues. Grow your Business by automating your customized workflow leading to increased staff productivity , zero - missed billings, increased accuracy and improved cashflow performance.

Lets see Key Values TRAACS brings for Your Travel Agency

1

Grow your Travel Agency Business by customized operational control

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.

2

Save Time and Effort by Automated Reconciliation Facility

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.

3

Advanced Financial, Operational and Segment Reporting with 100% Accuracy.

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

TRAACS Key Modules and Features

Front Office and Auto Invoicing

Multi GDS Integration & LCC Integration
Instant invoicing for all Online Sales

Hotel – Car -Visa -Insurance and Other Services
Service Fee / Discount Automation

Mid-Office and Auto Reconciliation

Automatic Reconciliation for BSP – LCC – Hotel
Other Non-Air Supplier Reconciliation
Corporate Card Reconciliation

Bank Reconciliation

Auto Currency Revaluation

Back-office and Real Time Accounting

Realtime & Multi Currency
Flexible Chart of Accounts
General Ledger Modules
A/P – A/R Modules
Billing Tax and Fixed Assets

Advanced Financial and MIS Reporting

Daily Sales Report
Airline Reports
Supplier Reports
200+ Financial Reports
A/R-A/P Reports

See here what our clients says about Nucore and TRAACS

TRAACS Powers more than 600+
Travel Business Customers

  • 600 +
    Customers
  • 34 +
    Countries
  • 11,000 +
    Users Processing
  • 60 MM +
    60 Million Transactions
  • $7 B +
    Revenues of more than
    $7 Billion USD
  • 3000 +
    User Locations

Case Studies

Almosafer.com – The Hotel B2B Platform powered by TRAACS Mid Back Office System

Established in 2012, Almosafer is a Saudi-based online travel platform, a business unit of Al…

All-in-one Travel, The Hotel B2B of ATTAR Travels, The Largest Travel Agent in KSA

Founded in 1952, Attar Travel is one of the oldest agencies in Saudi Arabia with…

Itrip online – Online Reservation System, a subsidiary of Fursan Travel KSA

Founded in 2012, Itrip became one of the fastest growing online Business to Business suppliers.…

So what next?. Our expert are a click away.

Book your free session and feel the new way of managing your Travel Agency. You will be walked through all of the key features by one of our experts and all your questions about nuTRAACS get cleared. We look forward to assisting you!

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