A company near Olaya with a poorly configured chart of accounts in Oracle Financials Cloud is running a platform capable of far more than it's currently delivering.

Financials is where most Fusion implementations begin, because every other module posts to it. Get the ledger design right and procurement, projects and HCM slot in cleanly afterward. Get it wrong and every subsequent module inherits the compromise. We treat the Financials design phase as the most consequential part of the entire programme.

Chart of accounts and ledger design

A Saudi chart of accounts has to serve three masters at once: management reporting by business line and region, statutory reporting under SOCPA-adopted IFRS, and Zakat computation, which needs specific visibility of Zakat-base items. We design segment structures so all three fall out of the same ledger without side spreadsheets, and so future entities can be added without redesign.

Tax and e-invoicing

VAT configuration covers standard, zero-rated, exempt and out-of-scope treatments with the reporting to support VAT return filing directly from the system. Receivables invoicing is configured for Arabic and English output with the QR code and structured data ZATCA Phase 2 requires, and the integration to ZATCA's platform is built and certified as part of the implementation rather than deferred.

Bank integration and cash management

Saudi banks each have their own payment file and statement formats. We configure Cash Management for automated bank statement import and reconciliation, and Payables for payment file generation in the formats your banks accept, so that supplier payment runs and reconciliations stop being manual. Where a treasury function exists this connects directly to it.

A common Saudi scenario

A Riyadh distribution group implements Financials across four entities. The chart of accounts is designed with a legal entity segment, a business line segment and a cost center segment, and Zakat-relevant balances are tagged at the natural account level. At year end the group's Zakat advisor extracts the Zakat base from a standard report rather than rebuilding it from trial balances, and the ZATCA filing is prepared in a fraction of the previous time.

Fixed assets and period close

Fixed Assets is configured for the depreciation methods and useful lives your policy specifies, with separate books where Zakat treatment differs from accounting treatment. Period close is structured as a documented checklist with subledger close sequence, so month-end becomes a repeatable process rather than one experienced person's routine.

Intercompany and multi-entity design

For groups, intercompany is where Financials design earns its keep. Trading between entities is configured to generate matching receivable and payable entries automatically, with the balancing segments that make elimination on consolidation a system function rather than a spreadsheet. This is also where consolidation readiness is decided, long before any consolidation tool is switched on.

Local context

Trading groups in Riyadh prioritize receivables and bank integration because cash collection drives their working capital.