Wafeq

Wafeq is an accounting and e-invoicing solution designed to streamline financial processes for small to medium-sized businesses. According to the vendor, it provides a centralized platform for managing bills, purchase orders, expenses, payroll, and employee reimbursements. Wafeq caters to a range of professionals and industries, including accountants, business owners, tech companies, e-commerce businesses, and ticketing platforms. The vendor claims that Wafeq offers a comprehensive solution for efficient financial management with its user-friendly features and compliance with tax authorities.

Key Features

Purchases & Claims: According to the vendor, users can manage bills, purchase orders, and expenses from one place, streamlining the process and providing a centralized location for all financial transactions.

Payroll & Employees: The vendor states that users can run payroll and invite employees to submit their expense claims, simplifying calculations, deductions, and reimbursements while promoting collaboration within the team.

VAT Return: According to the vendor, Wafeq can automatically generate VAT returns in compliance with tax authorities, saving time, ensuring accuracy, and eliminating the need for manual calculations and reporting.

Inventory tracking: The vendor claims that users can easily keep track of stock levels and inventory movements, streamlining inventory management, ensuring accurate financial records, and facilitating informed decisions.

Customers & Suppliers: According to the vendor, Wafeq allows users to maintain a clear overview of accounts payable and receivable, easily manage customer and supplier information, and improve cash flow management.

Reports & Insights: The vendor states that users can generate single or consolidated reports for a holistic view of finances, gain valuable insights into business performance, and make data-driven decisions with access to over 30 financial reports.

Invoicing: According to the vendor, users can customize and send invoices easily, tailor invoices to business needs and brand identity, and provide a seamless invoicing experience for customers.

Compliant with Zakat, Tax, and Customs Authority: The vendor claims that Wafeq can generate invoices fully compliant with ZATCA requirements in KSA, automatically generate compliant e-invoices with QR codes, and ensure adherence to tax authorities' requirements in UAE.

Sending invoices to customers: According to the vendor, users can send invoices to customers in their preferred way, customize messages, and provide a convenient invoicing experience via email or WhatsApp.

Collaboration: The vendor states that users can invite team members while maintaining full control over their access, grant different permissions, enable collaboration through built-in chat channels, and effectively manage employee reimbursements.