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Year-end closing checklist for Saudi companies

The year-end close in the Kingdom has extra items on top of the usual reconciliations: the Zakat or tax computation, e-invoicing completeness, GOSI and WPS agreement, end-of-service and leave provisions. This checklist puts them in order for an ERP-run close.

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Close in the system, not around it

A close that happens in spreadsheets produces an audit file that does not match the ledger. A close run inside Zoho Books, Odoo or ERPNext locks periods, posts provisions from HR data, values inventory from counts and hands the auditor reports that tie. The Saudi-specific items sit alongside the standard ones.

Use the list as a sequence; each step assumes the previous one is locked.

The checklist

StepWhat to doSaudi specifics
1. Bank and cashReconcile every account to statementsSADAD, gateways and petty cash included
2. Receivables and payablesAge, confirm, provide for doubtful debtsRetention and advances on contracts
3. VATReconcile returns filed to the ledger; check e-invoice completenessEvery issued invoice cleared or reported
4. PayrollAgree GOSI and WPS files to payroll expenseContribution bases, Saudization data
5. ProvisionsPost end-of-service and leave provisions from HR recordsLabour Law rules per employee
6. Fixed assetsDepreciation, additions, disposals, physical checkLocal asset data for local content
7. InventoryCount, value, write down, landed cost reviewImport duty on cost
8. IntercompanyMatch balances and eliminateMulti-entity groups
9. Zakat and taxExtract the computation dataZakat base or income tax per shareholder mix
10. Lock and fileLock periods, produce statements, hand the audit fileBilingual statements where required

Where the ERP helps most

Provisions from HR data, e-invoice completeness reports, inventory valuation with landed cost and period locks are the four items that save the most time. See end-of-service benefits, Zakat reporting and multi-company ERP.

Explore related pages

Where to go next, depending on what you are trying to decide.

Zakat reporting

The computation data.

End-of-service benefits

Provisions.

Multi-company ERP

Intercompany.

Accounting ERP

The product view.

VAT software

Returns.

Saudi compliance hub

Every requirement.

Questions before you book

Reconciliations monthly; the year-end sequence in the last month of the year.

It extracts the computation data; your adviser prepares the return.

Yes, when HR and payroll are in the system.

Zoho Books, Odoo and ERPNext.

No; it is a process checklist.

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