You can now issue invoices in foreign currencies, such as EUR and USD, and submit them to ZATCA correctly and in full compliance with all requirements.
What changed?
When issuing an invoice in a foreign currency, the system will automatically:
- Issue the invoice in the selected foreign currency, so all amounts and prices appear in your chosen currency.
- Calculate and submit VAT in Saudi Riyals to ZATCA, based on the exchange rate saved on the invoice at the time of creation, without affecting the foreign currency amounts on the invoice.
- Round all foreign currency amounts to two decimal places according to ZATCA’s approved rounding rule, ensuring numerical accuracy and valid submission.
- Validate the currency code and confirm it conforms to the internationally accepted standard (ISO 4217) before submitting the invoice.
What has not changed?
- Invoices issued in Saudi Riyals continue to work exactly as before.
- The exchange rate used for calculations is the rate saved on the invoice at the time of creation, and is not affected by any later changes to settings.
Learn more about the features of Qoyod accounting system.