Overview
Most small and mid-sized companies do not fail from weak sales but from weak financial visibility: they do not know their true cost per product, their actual margin, or their cash position two months out. Sound accounting is not only a statutory obligation — it is the primary decision tool.
Then there is the regulatory dimension: ZATCA requires organised, reconcilable accounting records, and any tax audit starts with your books. Disorganised records mean an estimated tax base — and estimates never work in your favour.
Rapture provides an integrated accounting service: regular bookkeeping, financial statements prepared to recognised standards, cost and margin analysis, and records kept audit-ready at all times.
Who is this service for?
- Small and mid-sized companies without an in-house accounting function
- Establishments needing certified financial statements for banks or investors
- Companies lacking clarity on their costs and margins
- Establishments needing records organised ahead of a tax audit
Required documents
- Commercial registration and tax registration certificate
- Sales and purchase invoices for the period
- Bank statements
- Payroll and employee entitlement schedules
- Long-term contracts and commitments
- Prior accounting records where available
How the process works
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Review the current financial position
We examine existing records, identify gaps and accumulated errors, and set a plan to regularise the position before regular operation begins.
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Build the accounting system
We design a chart of accounts suited to your activity and implement a system aligned with e-invoicing and return filing requirements.
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Ongoing bookkeeping
We record transactions as they occur, reconcile bank accounts, and issue periodic reports reflecting your actual financial position.
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Financial statements and analysis
We prepare financial statements to recognised standards and provide cost, margin and liquidity analysis to support your operating decisions.
Expected turnaround
Regularising accumulated records takes two weeks to two months; ongoing operation runs on a regular monthly cycle.
Frequently asked questions
Is bookkeeping legally required?
Yes. Regulations require establishments to maintain organised accounting records and retain them for a defined period. Absent records can lead to an estimated tax or Zakat base, usually higher than reality.
What is the difference between bookkeeping and external audit?
Bookkeeping records transactions and prepares statements; external audit is an independent examination of those statements by a licensed auditor. The two are separate and complementary.
Do you prepare bank-acceptable financial statements?
Yes. We prepare statements to recognised standards and in the format banks and lenders require when assessing financing applications.
How long must accounting records be retained?
Regulations require records and supporting documents to be retained for a defined period so authorities can examine them later. We recommend organised electronic archiving to simplify any future audit.