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    Double entry accounting for Saudi Arabia (With Multi-currency and VAT)

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    Double-Entry Accounting with vat/sales tax and foreign currencies
    Business

    Double entry multi-currency accounting for keeping track of the VAT transactions and printing a VAT Report for Saudi Arabia.

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    Works with Saudi Arabia VAT Report.

     

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    SA-Multicurrency-VAT

    Basic Currency: SAR

    Double-entry with foreign currencies and VAT/Sales tax

    Table: Accounts
    Group Description Currency Sum In
        BALANCE SHEET    
             
        ASSETS    
             
      101001 Trademark SAR 101NCA
    101NCA   Intangible Non Current Assets   1NCA
      102001 Machineries and appliances SAR 102NCA
      102005 Furniture SAR 102NCA
      102010 Hardware SAR 102NCA
      102015 Software SAR 102NCA
    102NCA   Tangible Non Current Assets   1NCA
      103001 Security Deposit SAR 103NCA
    103NCA   Financial Non Current Assets   1NCA
    1NCA   Non Current Assets   1
      107001 Inventory SAR 107CA
    107CA   Inventory   1CA
    10   Clients   108CA
      108001 Invoices to be issued SAR 108CA
    108CA   Trade receivables   1CA
      109001 Advance Payment SAR 109CA
      109005 Prepaid Rent SAR 109CA
      109010 Prepaid License Fee SAR 109CA
      109015 Prepaid Insurance SAR 109CA
      109020 Rent Security Deposit SAR 109CA
    109CA   Other Current Assets   1CA
      110001 input VAT on purchases (box 9) SAR 110CA
      110002 - Input VAT - adjustment unpaid suppliers older than 6 month (box 9) SAR 110CA
      110005 Input VAT - purchase with reverse charge (box 10) SAR 110CA
    110CA   Tax Receivable   1CA
      112001 Cash SAR 112CA
      112005 Bank AED SAR 112CA
      112010 Bank EUR EUR 112CA
      112015 Bank USD USD 112CA
    112CA   Cash and cash equivalent   1CA
    1CA   Current Assets   1
    1   Total ASSETS   00
             
        LIABILITIES    
      201001 Share Capital SAR 2SE
      201005 Reseve SAR 2SE
      201010 Retained (Profit) or Loss SAR 2SE
    230   Profit or loss of the current year   2
    2SE   Shareholders' Equity   2
      205001 Shareholders' loan - AED SAR 205NCL
      201002 Shareholders' loan - EUR EUR 205NCL
      205010 Long term loan SAR 205NCL
    205NCL   Financial Non Current Liabilities   2NCL
      207001 End of service gratuity SAR 207NCL
    207NCL   Employee Benefit Provision   2NCL
    2NCL   Non Current Liabilities   2
      210001 Bank Loan SAR 210CL
    210CL   Financial Current Liabilities   2CL
    20   Suppliers SAR 211CL
      211005 Invoices to be received SAR 211CL
    211CL   Trade payables   2CL
      212200A Automatic VAT SAR 212CL
      212200 VAT payable SAR 212CL
      212201 Automatic VAT Account SAR 212CL
      212202 VAT temporary reverse charge SAR 212CL
    212CL   Tax liabilities   2CL
      213001 Payables vs personnel SAR 213CL
      213015 Accruals AED SAR 213CL
      213020 Other current liabilities SAR 213CL
    213CL   Other Current Liabilities   2CL
    2CL   Current Liabilities   2
    2   Total LIABILITIES & EQUITY   00
             
             
        PROFIT/LOSS STATEMENT    
             
        EXPENSES    
             
      301001 Variation of inventories SAR 301MA
      301005 Purchase of materials SAR 301MA
      301015 Duty and freight SAR 301MA
    301MA   Material   3OC
      302001 Licenses SAR 302SE
      302005 Administrative costs SAR 302SE
      302010 Professioanal consultancies SAR 302SE
      302015 Legal fee SAR 302SE
      302020 Accounting services SAR 302SE
      302025 Audit fee SAR 302SE
      302030 Utilities SAR 302SE
      302035 Maintenance and repairs SAR 302SE
      302040 IT services SAR 302SE
      302045 Office rent SAR 302SE
      302050 Travel expenses SAR 302SE
      302055 Marketing expenses SAR 302SE
      302060 Insurance SAR 302SE
    302SE   Services Rental and Lease   3OC
      303001 Salary SAR 303PE
      303005 End of service SAR 303PE
      303010 Health insurance SAR 303PE
      303015 VISA SAR 303PE
      303020 Other personnel cost SAR 303PE
    303PE   Personnel   3OC
      304001 Amort machineries and appliances SAR 304AM
      304005 Amort furniture SAR 304AM
      304010 Amort hardware SAR 304AM
    304AM   Amortisation   3OC
      305001 provision for doubtful accounts SAR 305OT
      305015 other provision SAR 305OT
      305020 Negative adjustments SAR 305OT
    305OT   Other costs   3OC
    3OC   Operating costs   3
      306001 Bank interest payable SAR 3FC
      306005 Foreign currency losses SAR 3FC
    3FC   Finance Costs   3
    3   Total EXPENSES   02
             
        REVENUE    
      401001 Sales SAR 401EI
    401EI   External Incomes   4OI
      402001 Services Intragroup SAR 402II
    402II   Intragroup Incomes   4OI
      403001 Positive adjustments SAR 403OI
      403005 Ohter Incomes SAR 403OI
    403OI   Other Incomes   4OI
    4OI   Operating revenues   4
      404001 Bank interest receivable SAR 4FI
      404005 Foreigh currency profit SAR 4FI
    4FI   Finance Income   4
    4   Total REVENUE   02
             
    02   Profit(-) Loss(+) from Profit & Loss Statement   230
             
    00   Difference should be = 0 (blank cell)    
             
             
        Customers/Debtors    
      11.001 Altmann&Sons SAR 10A
      11.002 Peter&Co. SAR 10A
      11.003 MC SAR 10A
      11.004 JDWater SAR 10A
      11.005 RossiCostruzioni SAR 10A
    10A   Total Customers   10
             
             
        Suppliers/Creditors    
      20.001 Smith&Co SAR 20A
      20.002 Doe&Sons SAR 20A
      20.003 BosiaSoftware SAR 20A
    20A   Total Suppliers   20
    Table: VAT codes
    VAT Code Description %VAT
      Explanations VAT Codes  
      Initial Char  
      1= Output VAT (Sales)  
      5= Input VAT (Purchases)  
      9=Correction VAT Previous Period  
      Second part  
      5 = 5% rate  
      0 = 0% rate  
         
      VAT codes information (do not modify)  
      id=vatcodes-sa-2019.0  
      Last update: 2019-01-07  
         
      VAT Due  
    15 Standard rated sales 5.00
    15-1 Reverse charge on Purchase 5.00
    10-2 Private Healthcare/ Private Education sales to citizens  
    10-3 Zero rated domestic sales  
    10-4 Exports  
    10-5 Exempt sales  
      Total VAT Due  
         
      Recoverable VAT  
    55 Standard rated domestic purchases 5.00
    55-8 Imports subject to VAT paid at customs 5.00
    55-9 Imports subject to VAT accounted for reverse charge mechanism 5.00
    50-10 Zero rated purchases  
    50-11 Exempt purchases  
      Total Recoverable VAT  
         
    95 Corrections last period 5.00
      Corrections previous period  
      Total VAT payable or VAT credit  
         
         
    :ADJ Adjustements are registered with the same VAT code used for the transactions that needs an adjustment  
    Table: Exchange rates
    Ref.Currency Currency Text
    SAR EUR Euro
    SAR USD US Dollars

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