Top 10 Accounting Software in Saudi Arabia: Features, Benefits, and Pricing 

Managing your business finances well is essential for success, especially in Saudi Arabia, where rules and regulations are constantly evolving. As part of the country’s Vision 2030 plan to grow and diversify its economy, more businesses are turning to advanced accounting software in Saudi Arabia to help them stay on track. 

The accounting software market in Saudi Arabia, worth USD 44.5 million in 2023, is expected to grow to USD 75.7 million by 2029, with a steady annual growth rate of 9.1%. This shows how important these tools are becoming for businesses to handle their finances and follow local tax rules like VAT and Zakat.

Whether you run a startup, or an enterprise, choosing the right accounting software is a key decision. In this guide, we’ll explore the top 10 accounting software options for businesses in Saudi Arabia, each designed to simplify your financial management, keep you compliant, and improve efficiency.

Why Cloud Accounting Software are gaining importance now more than ever?

1. Vision 2030 and Economic Diversification: Saudi Arabia’s Vision 2030 aims to reduce the country’s reliance on oil and diversify its economy, encouraging the adoption of advanced technologies like accounting software to improve business operations and financial management across various sectors.
2. Regulatory Compliance: The introduction of Value Added Tax (VAT) in 2018 and ongoing regulations such as Zakat compliance and e-invoicing have made it essential for businesses to adopt software solutions that ensure accurate tax filing and adherence to local laws.
3. Digital Transformation: The government’s push towards digitization and automation, as part of its broader strategy, has led businesses to invest in digital tools, including accounting software, to streamline operations, reduce manual errors, and improve overall efficiency.
4. Growing Small and Medium-Sized Enterprises (SMEs): With SMEs making up a significant portion of the Saudi economy, the need for accessible, affordable, and scalable accounting software has increased, driving demand for solutions tailored to smaller businesses.
5. Cloud Adoption: As more companies shift towards cloud-based solutions for flexibility and scalability, cloud accounting software has gained popularity due to its cost-effectiveness, easy accessibility, and ability to support remote work.
6. Increased Focus on Data Security: As businesses handle sensitive financial data, the need for secure, reliable accounting systems has grown. Solutions offering strong data protection and compliance with international security standards are in high demand.
7. Demand for Automation and Efficiency: Businesses are increasingly looking to automate repetitive tasks such as invoicing, payroll, and financial reporting, driving the need for accounting software that offers automation features to save time and reduce human error.

A Detail Analysis of Top Accounting Software of Saudi Arabia

1. Refrens 

Refrens is a comprehensive cloud-based accounting software designed to streamline financial management for businesses in Saudi Arabia. With its robust set of features, Refrens simplifies invoicing, expense tracking, and inventory management, all while ensuring compliance with local tax regulations. 

It’s an ideal solution for businesses of all sizes, offering a user-friendly interface that allows businesses to efficiently manage their finances in real-time. Refrens is perfect for Saudi businesses looking to automate their accounting processes, save time, and improve accuracy, all within a secure and scalable platform.

Key Features:

• Generate Customized Invoices: Create and share fully customized VAT invoices in seconds, with options for multi-currency invoicing.
• E-invoicing: E-invoicing (ZATCA compliant) feature to meet regulatory requirements, especially for businesses in Saudi Arabia.
• Automate Recurring Invoices:  Automatically create invoices for recurring projects to save time, reduce errors, and ensure steady cash flow.
• Automated Payment Reminder: send automated reminders to clients, ensuring timely collections and steady cash flow.
• Arabic Language Support: Fully supports Arabic, allowing businesses in Arabic-speaking regions to create and manage invoices, in their native language.
• Track Expenses Effortlessly: Record and monitor all your business expenses in one place, ensuring accurate cost tracking and better financial decision-making.
• Access Financial Reports Instantly: Generate comprehensive reports such as balance sheets, P&L statements, and trial balances with one click for detailed financial analysis.
• Audit Trails: Audit trails to track changes in invoices made by team members.
• Enable Role-Based Access Control: Assign roles and permissions to team members based on their responsibilities, ensuring security and confidentiality of financial data.
• Simplify Client and Vendor Management: Store and manage all client and vendor details in one place, ensuring smooth operations and tracking of all transactions.
• Manage Inventory in Real-Time: Track and update inventory levels automatically whenever an invoice or expense is created, preventing stockouts or overstocking.
• Seamless Multi-Business Management: Effortlessly manage multiple businesses within a single platform, with the ability to assign team members to specific businesses and control their access based on roles and responsibilities.

Pricing:

• Basic Plan: Free
• Book Essential: SAR 240/year
• Books Pro: SAR 600/year

Ratings:

• Capterra: 4.8⭐/5
• Software Advice: 4.8⭐/5
• G2: 4.6⭐/5

2. Elate Soft 

Elate Accounting Software is a robust and customizable accounting solution designed to cater to the diverse needs of businesses in Saudi Arabia, UAE, and beyond. Tailored to fit businesses of all sizes, Elate Accounting Software offers advanced features that empower organizations to manage their finances with precision and efficiency.

Key Features:

• Manage Invoicing Efficiently: Create and automate professional invoices for customers and vendors, and generate subscription orders with ease.
• Track Inventory in Real-Time: Monitor inventory levels, set reorder points, and quickly replenish stock when necessary, ensuring optimal stock management.
• Track Expenses Anytime, Anywhere: Record and manage financial transactions in real-time from any location, making informed decisions about where your money is going.
• Simplify Bank Reconciliation: Import and reconcile transactions, making it easy to track payments and ensure financial accuracy.
• Enable Multi-User Access: Allow multiple users to access the system simultaneously without any additional costs, facilitating collaboration across teams.
• Generate Advanced Reports: Access and customize over 50 business reports to gain deep insights into your financial health and business performance.
• Streamline Banking Operations: Integrate with partner banks to import transactions, automate payments, and eliminate manual data entry.
• Manage Timesheets and Projects: Track time spent on projects, create invoices based on unbilled hours, and manage customer billing efficiently.

Pricing: Custom price based on your business needs 

Ratings:

• Capterra: 4.7⭐/5
• G2: 4.9⭐/5
• Get App: 4.7⭐/5

3. Inforise 

Inforise offers a powerful accounting system designed to meet the needs of businesses in Saudi Arabia. With a focus on enhancing the efficiency of your accounting team and ensuring accuracy in financial reporting, Inforise’s accounting software helps organizations streamline their accounting processes. 

This software allows accounting professionals to perform tasks with greater precision, reducing stress and improving productivity. Whether it’s managing financial documents or accessing reports instantly, Inforise provides a comprehensive and affordable solution for businesses looking to improve their accounting operations.

Key Features:

• Increase Team Efficiency: Enhance your accounting team’s productivity by streamlining workflows and automating financial processes.
• Eliminate Inaccuracies in Financial Statements: Reduce the probability of errors in your financial statements, ensuring precise and reliable financial reporting.
• Save Time with Automated Processes: Perform critical accounting tasks more efficiently, saving valuable time for your team and organization.
• Access Financial Reports Anytime: Retrieve financial reports and documents instantly with just a few clicks, giving you real-time access to important data.
• Reduce Stress for Your Accounting Team: Simplify complex accounting tasks, allowing your team to work with less stress and improved accuracy.

Pricing: Custom price based on your business needs

4. Bridge Bill

Bridge Bills is a cloud-based accounting and invoicing software designed to meet the unique needs of small businesses, freelancers, and accountants in Saudi Arabia. Launched in 2022 by Glaubetech Inventions Pvt Ltd, Bridge Bills offers a comprehensive solution for managing finances, from invoicing to payroll, with a user-friendly interface and advanced features that simplify accounting processes. 

With VAT compliance, ZAKAT-approved e-invoice QR readers, and mobile accessibility, Bridge Bills allows businesses to efficiently manage their finances, ensuring compliance with local regulations while driving growth.

Key Features:

• Manage Invoicing and Billing with Ease: Create, manage, and track invoices and bills easily through an intuitive interface.
• Ensure ZAKAT Compliance: Utilize the e-invoice QR scanner to ensure compliance with Saudi Arabia’s Zakat and Tax Authority regulations.
• Automate Payroll Management: Handle payroll efficiently and put an end to the stress of payroll processing with automated solutions.
• Generate Financial Reports: Access real-time financial reports, including tax summaries, trial balances, and aging reports to help you stay on top of your financial performance.
• Reconcile Bank Transactions: Synchronize your banking transactions and ensure smooth and accurate bank reconciliation.
• Manage Sales and Purchases on the Go: Track sales, purchases, payments, and collections in real time through the Bridge Bills mobile app.
• Enhance Document Control: Organize and manage important financial documents with easy global search and document control features.
• Scale with Flexible Pricing Plans: Choose from flexible pricing plans that suit businesses of all sizes, from free plans for startups to premium features for growing enterprises.

Pricing Plans: 

• Free Plan: Free
• Basic Plan: USD 155
• Advanced Plan: USD 230
• Premium Plan: USD 330

Ratings:

• Capterra: 5⭐/5
• Get App: 5/⭐5

5. Bnody

Whether you’re a small startup or a large enterprise, Bnody’s software helps businesses optimize accounting workflows, ensure compliance, and gain real-time insights into financial performance. With powerful features and secure cloud-based deployment, Bnody is the go-to accounting software for businesses looking to drive efficiency and growth in Saudi Arabia.

Key Features:

• Streamline Invoicing and Expense Tracking: Automate invoicing and expense management to simplify financial operations and reduce manual workload.
• Gain Real-Time Financial Insights: Access real-time financial reporting, including cash flow analysis and profit and loss statements, to make informed, data-driven decisions.
• Ensure Security and Compliance: Protect sensitive financial data with encrypted storage, role-based access controls, and audit trails to ensure compliance with local regulations.
• Enhance Operational Efficiency: Customize workflows and user interfaces to align with your business processes, improving efficiency across accounting operations.
• Scale with Your Business: Adapt easily to changing business needs with scalable cloud-based solutions and flexible pricing plans, designed to grow with your company.
• Seamlessly Integrate with Other Systems: Integrate Bnody with other business systems for a unified platform that manages all aspects of your organization, including sales and inventory.

Pricing: Custom price based on your business needs 

6. Odoo

Odoo Accounting Software is a powerful and flexible solution designed to streamline financial operations for businesses in Saudi Arabia. With cutting-edge features and seamless integration across various Odoo apps, this software automates financial processes, making accounting simple, efficient, and reliable. 

Developed by Odoo Implementers, a trusted Odoo Gold Partner, the software is tailored to meet the specific needs of local businesses, offering unmatched support and expertise in implementation. Odoo Accounting ensures full synchronization of business transactions, enabling better control and visibility over finances.

Key Features:

• Automate Business Transactions: Sync your bank statements automatically with your bank and import files effortlessly to track financial activities.
• Streamline Recurring Billings and Payments: Manage recurring bills and payment tracking with ease, offering better control over supplier invoices.
• Enhance Invoice Management: Create and share professional invoices online, fully integrated with other Odoo apps such as Odoo Sales and Odoo Inventory.
• Simplify Reconciliation: Automate up to 95% of account reconciliation, saving valuable time and reducing errors in the process.
• Track Budgets and Performance: Compare business performance with different budgets and track financial activities easily.
• Generate Comprehensive Reports: Extract key financial reports such as Balance Sheets, General Ledgers, Profit & Loss, Trial Balances, and more.
• Ensure Secure Accounting: Implement secure accounting systems with Odoo’s upgradable and customizable accounting books.
• Integrate Fully with Odoo Apps: Seamlessly integrate Odoo Accounting with other Odoo apps like Odoo Expenses, Odoo Point of Sale, Odoo Project, and more for a complete business management solution.
• Optimize Payment Validations: Validate business payments efficiently to ensure smooth financial operations.
  
  Ratings:
  
• Capterra: 4.2⭐/5
• G2: 4.2⭐/5
• Get App: 4.2/⭐5

7. Quick Dice 

Quick Dice is an innovative accounting software fully integrated with ZATCA’s e-invoicing system, it simplifies financial management, enhances operational efficiency, and ensures compliance with local regulations. QuickDice ERP empowers businesses to automate complex processes, streamline operations, and stay competitive in a rapidly evolving market.

Key Features:

• Integrate Seamlessly with ZATCA E-Invoicing: Comply with Saudi Arabia’s ZATCA e-invoicing regulations by integrating advanced billing software with your ERP system.
• Automate Billing Processes: Eliminate manual entry errors and reduce the time needed to process financial transactions through automated billing.
• Enhance Financial Management: Monitor financial data in real-time, improving decision-making capabilities and providing greater insight into your business’s financial health.
• Optimize Tax Compliance: Simplify the implementation of VAT and other tax laws, ensuring your business stays compliant and avoids penalties.
• Improve Operational Efficiency: Streamline financial workflows, from invoice creation to tax filing, ensuring centralized record-keeping and optimized transaction processing.
• Empower Growth Through Digital Technologies: Leverage digital tools to boost efficiency, reduce costs, and position your business for sustained growth in an increasingly globalized market.

8. Tally Solution 

TallyPrime is an all-in-one accounting and business management solution designed to help businesses in Saudi Arabia streamline their financial operations. With its VAT-compliant billing, flexible purchase and sales management, and multi-currency support, TallyPrime empowers small and medium-sized businesses to manage their accounting needs effectively. 

Its user-friendly interface, combined with advanced security features, makes it a top choice for businesses looking to stay compliant while improving productivity. From invoicing to inventory management, TallyPrime provides a comprehensive platform for businesses to unlock growth and manage their finances with ease.

Key Features:

• Generate VAT-Compliant Invoices: Quickly generate professional, VAT-compliant e-invoices that meet Saudi regulatory requirements.
• Streamline Sales and Purchase Management: Adapt to various sales and purchase workflows with flexible billing formats that cater to your business needs.
• Share Documents Easily: Share e-invoices, orders, and other documents directly via WhatsApp from within TallyPrime.
• Manage Multi-Currency Transactions: Effortlessly manage invoices, payments, and bills in foreign currencies, adjusting for gains or losses from currency rate fluctuations.
• Access Reports on Any Device: View business reports and invoices from mobile devices or any platform, and send them instantly via WhatsApp for quick communication.
• Leverage Business Reporting: Analyze a variety of insightful business reports, including financial, accounting, and inventory reports to aid decision-making.
• Automate Cash Flow and Credit Management: Manage your cash flow and credit effectively with real-time monitoring of bills receivable, payable, and aging analysis.
• Control Costs and Enhance Security: Implement cost control measures and enhance security management with TallyPrime’s advanced features.

Ratings

• Capterra: 4.4⭐/5
• G2: 4.6⭐/5
• Software Advice: 4.4⭐/5
• Get App: 4.4⭐/5

9. Focus I

Focus I, developed by Focus Softnet, is an all-in-one cloud-based accounting and ERP solution tailored to meet the business needs of companies in Saudi Arabia. Known for its simplicity and efficiency, Focus i automates critical accounting processes, helping businesses streamline their workflows and boost productivity. 

With integrated Business Intelligence (BI) technology, VAT compliance, and modules for sales, HR, and more, Focus i offers a comprehensive platform to manage every aspect of your organization’s operations. Whether you’re a small, medium, or large enterprise, Focus i’s scalable and customizable features provide robust support for finance and business management.

Key Features:

• Automate Accounting Processes: Automatically record payments, receipts, and other financial transactions with accuracy and speed.
• Ensure VAT Compliance: Generate VAT-compliant invoices and prepare for tax submissions with ease.
• Enhance Sales Management: Facilitate communication between customers and sales personnel while tracking vendors and market trends to predict future demands.
• Manage Resources Efficiently: Create job descriptions, simplify task allocations, and monitor employee productivity.
• Optimize Document Management: Digitize documents for easy access from any device and ensure secure storage to prevent loss or misplacement.
• Enable Marketing Integration: Capture marketing data, track leads, and manage sales pipelines with integrated tools for easier reporting and campaign management.
• Leverage Business Intelligence: Utilize BI-powered dashboards to display critical business insights and analytics, allowing for informed decision-making.
• Set Alerts and Notifications: Send automatic email and SMS notifications to customers and vendors for overdue bills or important updates.
• Integrate AI-Powered Tools: Employ artificial intelligence (AI) for predictive analytics, robotic process automation (RPA), and chatbots to boost efficiency and transaction accuracy.

10. Wafeq

Wafeq is an advanced accounting software tailored for Saudi businesses, fully compliant with ZATCA’s e-invoicing regulations. Its user-friendly design and powerful features make it ideal for both small business owners and accounting firms. Wafeq simplifies financial management with automation, dual-language support, and seamless integrations, helping businesses handle their VAT and accounting needs effortlessly.

Key Features:

• Automated Financial Reporting: Generate detailed financial statements such as Profit & Loss and balance sheets in both English and Arabic with just a click.
• ZATCA-Compliant VAT Returns: Prepare VAT returns in the exact format required by ZATCA, ensuring smooth and error-free filing.
• Seamless Integration: Integrate effortlessly with Foodics and Salla, automating accounting for sales, purchases, inventory, and cost of goods.
• Custom Invoice Branding: Customize invoices with your company’s logo and stamp, applied across documents like invoices, quotes, and purchase orders.
• Efficient Data Entry: Enhance productivity with an innovative spreadsheet interface that speeds up data entry, designed for accounting professionals.
• Easy Software Migration: Migrate from non-compliant accounting software quickly and easily using Wafeq’s streamlined migration process.

Ratings

• Software Advice: 5⭐/5
• Capterra: 5⭐/5
• Get App: 5⭐/5

The key market challenges in Saudi Arabia’s accounting software industry

1. Regulatory Complexity: Frequent changes in tax laws, such as VAT, Zakat, and e-invoicing regulations, create challenges for businesses in staying compliant. Companies need regularly updated accounting software to meet these shifting regulations, but relying on outdated or non-compliant software can result in costly penalties and additional administrative work.
2. Low Awareness Among SMEs: Many small and medium-sized enterprises (SMEs) still depend on traditional accounting methods and may not fully understand the advantages of adopting modern accounting software. The transition to digital platforms can seem overwhelming, and the learning curve can deter businesses from making the switch.
3. High Competition in Software Choices: With a wide variety of accounting software providers in the market, businesses may find it difficult to choose the right solution. The abundance of options can lead to confusion, making it harder for companies to select a platform that meets their needs and regulatory requirements.
4. Cybersecurity Concerns: As more businesses move to cloud-based accounting systems, there is a growing fear of data breaches and unauthorized access to sensitive financial information. Businesses need to ensure that the software they choose offers strong security measures, but concerns over data protection can delay adoption.
5. Cost Sensitivity: Many smaller businesses may find comprehensive accounting software too expensive, especially if they require features like customization for local regulations or advanced reporting. Balancing the cost of software with the operational and compliance benefits is often a challenge for budget-conscious businesses.
6. Lack of Customization for Local Needs: Many global accounting software solutions may not offer the specific customization required by Saudi businesses, such as Arabic language support, Zakat-specific reporting, and compatibility with local payment gateways. This lack of localization can make it difficult for businesses to fully integrate the software into their operations.
7. Digital Infrastructure Gaps: While digital transformation is progressing in Saudi Arabia, some regions, particularly rural areas, still face gaps in internet connectivity and infrastructure. This can limit businesses’ ability to fully adopt cloud-based accounting software and leverage its benefits.
8. Resistance to Change: Many businesses, especially those that have relied on traditional accounting methods for years, may be resistant to adopting new technology due to concerns over complexity, disruption to established workflows, or fear of the unknown.

Key market trends in Saudi Arabia’s accounting software industry

1. Shift to Cloud-Based Solutions: The growing preference for cloud-based accounting software is a dominant trend, driven by the flexibility, scalability, and cost-effectiveness these solutions offer. Cloud accounting enables remote access, real-time financial data updates, and reduced reliance on physical infrastructure, making it particularly appealing to SMEs.
2. E-Invoicing and Automation: Saudi Arabia’s move towards mandatory e-invoicing, in line with ZATCA (Zakat, Tax and Customs Authority) regulations, is pushing businesses to adopt software that automates invoicing and financial reporting. This trend has led to increased demand for tools that offer seamless automation to ensure compliance and efficiency.
3. Focus on AI and Machine Learning: Many accounting software providers are integrating artificial intelligence (AI) and machine learning features into their platforms. These tools help automate repetitive tasks, such as data entry and invoice matching, and provide predictive analytics for improved decision-making.
4. Integration with Other Business Systems: Businesses are increasingly looking for accounting software that can integrate with other critical systems, such as inventory management, payroll, customer relationship management (CRM), and enterprise resource planning (ERP) systems. This trend reflects the demand for more unified, all-in-one business solutions.
5. Mobile-First Solutions: With the growing use of mobile devices for business purposes, accounting software that offers mobile apps and mobile-friendly interfaces is becoming more popular. This allows business owners and accountants to manage finances, issue invoices, and view reports on the go.
6. Emphasis on Data Security: As data breaches and cyber threats become more frequent, businesses are placing a high priority on accounting software that offers enhanced security features such as encryption, two-factor authentication, and compliance with international data protection standards like GDPR.
7. Localization and Language Support: There is a growing demand for accounting software that is tailored to local needs, including support for Arabic language, compliance with Saudi-specific regulations (such as VAT and Zakat), and customization options for regional accounting practices.
8. SaaS (Software as a Service) Adoption: The SaaS model, which allows businesses to access accounting software through a subscription rather than making large upfront investments, is gaining traction. This model provides flexibility in scaling and updating features as business needs evolve, especially appealing to growing enterprises.
9. Focus on User-Friendly Interfaces: As more businesses adopt digital accounting solutions, there is a rising demand for user-friendly, intuitive interfaces. Companies are increasingly seeking software that reduces the learning curve for non-technical users, making it easier to manage finances without extensive training.
10. Sustainability and ESG Reporting: Businesses are starting to focus on Environmental, Social, and Governance (ESG) factors, and accounting software providers are incorporating tools to support sustainability reporting. This trend reflects the growing importance of socially responsible business practices in Saudi Arabia.

Conclusion:

Choosing the right accounting software is crucial for businesses in Saudi Arabia to ensure compliance with local tax laws and to manage their finances effectively. The options highlighted in this guide cater to a wide range of business needs, from SMEs to large enterprises, providing comprehensive solutions for invoicing, expense management, VAT compliance, and more. 

Whether you’re looking for customizable features like Refrens or prefer solutions with ZATCA integration like Wafeq, each software offers unique advantages that can help you stay ahead in an increasingly competitive market. By leveraging these powerful tools, Saudi businesses can not only streamline their financial operations but also position themselves for long-term growth and success.