The e-receipt: the smart, green financial future

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The e-receipt: the smart, green financial future
The e-receipt: the smart, green financial future
An electronic receipt is an electronic means of confirming receipt of money or goods, and usually includes details of the financial transaction. The receipt is sent via email, text message or mobile app. The main goal of the electronic use of receipts is to simplify and speed up the process of documenting business and financial transactions.
What is an electronic receipt?
An electronic receipt is a digital document used to confirm the receipt of a sum of money, a good or a service. An electronic receipt is sent via electronic means such as email, and contains details of the financial or business transaction. The electronic receipt is issued automatically via computerized systems, which facilitates and speeds up the process of recording and documenting transactions.
Features of electronic receipt
• Speed in delivery
• Saving on the use of paper
• Accurate tracking of transactions
• Ease of management and central storage
• Security and electronic documentation.
The electronic receipt is used in various sectors, whether in business transactions between companies or in financial transactions between individuals.
Moving to electronic receipts enhances efficiency and contributes to reducing reliance on paper documents, which saves time and effort and contributes to supporting sustainability and digital transformation efforts.
What is the difference between an electronic receipt and an electronic invoice?
E-receipt and e-invoice are two types of digital documents, and although they share a digital character and electronic orientation, they have key differences related to purpose and content:
Electronic receipt:
the purpose:
An electronic receipt is used to confirm receipt of money, good or service. For example, it could be a receipt for the buyer confirming receipt of their payment.
An electronic receipt includes specific details about the financial transaction, such as the amount received, date of payment, and payment method used.
Electronic invoice:
the purpose:
An electronic invoice is used to document and record business transactions between companies or individuals. It usually contains details of the products or services offered, prices and applicable taxes.
An electronic invoice includes information about items sold, quantities, prices, total amount due, and tax information if applicable.
In general, this distinction reflects their roles in the sales process, where the receipt is sent as immediate confirmation to the consumer after payment, while the seller sends the invoice to clarify the details and comply with tax and accounting standards.

Who is obligated to apply the electronic receipt?
The obligation to implement electronic receipt is to ensure that payment and collection operations are carried out electronically in accordance with legal requirements. These requirements aim to improve transparency and facilitate the tracking of financial transactions by tax authorities and regulators.
This means that any individual or company that exceeds the limit set by the tax authorities in Saudi Arabia is obligated to adopt and implement the electronic receipt as part of their commitment to digital dealing in accordance with local tax laws.
What are the stages of the electronic receipt and their application dates?
With the advancement of technology and the adoption of digital tax systems across the world, managing electronic receipts has become vital for businesses and business entities. The application of the electronic receipt stages varies from one country to another, as each country determines its unique procedures according to applicable tax legislation and controls.
The importance of understanding these stages lies in facilitating tax compliance and accounting processes, and enhancing transparency and efficiency in managing financial operations. However, the general steps that are followed in Saudi Arabia to apply the electronic receipt can be summarized as follows:
1. Registration:
The work begins with registering in the system designated for electronic receipt. An entity or individual whose revenues exceed 375,000 Saudi riyals must register in the system. The Doc Suite system is an integrated and effective solution for recording electronic receipts, as it facilitates the process of managing fixed assets and trust effectively. With an intuitive interface, users can create their receipts quickly and easily, either using the report builder feature or customizing the design according to their needs.
2. Preparing for release:
The entity being registered must prepare to use the electronic system to issue receipts instead of paper receipts.
The Doc Suite system is an ideal solution for preparing and issuing electronic receipts easily and effectively. The system provides a variety of tools that facilitate the process of preparing receipts in a professional and organized manner for users.
• Data protection:
Data protection is crucial in the context of issuing an electronic receipt, and the DocSuite system ensures that data is stored securely, enhancing the integrity and confidentiality of financial information. Thanks to the advanced protection and cybersecurity technologies adopted
• Task Management:
The Doc Suite system provides you with the ability to effectively track the tasks associated with preparing the electronic receipt. This allows you to manage processes efficiently and helps achieve effectiveness in release processes.
3. Electronic version:
After completing the registration and preparation processes, electronic receipts are issued digitally through the system designated for this purpose, as the effective system allows the creation and storage of digital receipts in a safe and organized manner.
4. Providing the receipt to the customer:
The electronic receipt must be provided to the customer when completing the payment or purchase process. This digital receipt is considered official proof of the business transaction, and includes transaction details such as the amount paid, the date of the transaction, and buyer and seller information. This approach contributes to high transparency in business processes and provides convenience to customers who need to keep accurate records of their transactions.
5. Submitting the receipt to the tax authorities:
An electronic copy of receipts must be submitted to tax authorities as part of an obligation
In general, the stages of applying an electronic receipt require preparation by the entity or individual, interaction with the local tax system, and adherence to the dates specified for implementing the system. This includes preparing the internal system for issuing electronic receipts, registering in the designated system, and interacting with tax units, while fully adhering to the timelines to ensure full compliance with legal requirements.
As an employer, what should you do to register in the electronic receipt system?
Registration in the electronic receipt system can be easily done either through the tax office or through the self-registration process. Below is an explanation of the detailed steps for self-registration:
Authorized person registration:
An authorized person, such as an accountant or any designated employee, registers on the system on behalf of the company owner. DocSuite can provide an easy user interface and report building package to record the authorized person to issue electronic invoices and receipts. This interface facilitates registration processes and provides powerful features to achieve accurate and reliable compliance with tax requirements.
ERP system registration:
The ERP system used by the authorized person, which is linked to the Egyptian Tax Authority, is registered. Using the system integration feature in DocSuite enables it to integrate with the ERP system used by the client, facilitating registration and communication with the IRS. This integration enhances the effectiveness of data management and contributes to improving the accuracy of electronic invoice and receipt recording processes.
POS System Registration:
The POS system  through which electronic receipts will be issued must be registered. This system must be approved by the Egyptian Tax Authority, and operate online and offline. DocSuite allows seamless interaction with the POS system, providing users with greater efficiency in managing financial operations and ensuring compliance with tax requirements easily.
By following these steps, companies can easily register in the electronic receipt system, ensuring that they enjoy the benefits of this system and fully comply with legal and tax requirements. Providing a DocSuite system to manage and implement these steps makes it easier for companies to achieve compliance efficiently and ensure the effectiveness of their financial operations.

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