Accounts Payable (AP)Money owed by a business to its suppliers or vendors for goods and services received but not yet paid for. In Mujez, AP tracks vendor bills, payment due dates, and manages the full procure-to-pay cycle.Accounts Receivable (AR)Money owed to a business by its customers for goods or services delivered. Mujez automates AR with invoice tracking, aging reports, and automated payment reminders.Bank ReconciliationThe process of matching bank statement transactions to accounting records. Mujez uses AI to auto-match up to 95% of transactions, learning your patterns over time.Chart of AccountsA structured list of all accounts used to record financial transactions. Mujez provides pre-configured templates based on Saudi accounting standards.Corporate Tax (UAE)A 9% federal tax on business profits exceeding AED 375,000, effective in the UAE since June 2023. Administered by the Federal Tax Authority (FTA). The introduction of corporate tax has driven significant demand for robust accounting and ERP solutions across the Emirates.Credit NoteA document issued to reduce the amount owed by a customer, typically for returned goods or billing corrections. In ZATCA e-invoicing, credit notes must be submitted to the Fatoorah portal.Cryptographic StampA digital signature applied to e-invoices as required by ZATCA Phase 2. It includes a hash, timestamp, and certificate that verifies document authenticity and integrity.Debit NoteA document issued to increase the amount owed by a customer, typically for additional charges or corrections. Debit notes follow the same ZATCA e-invoicing rules as invoices.Double-Entry BookkeepingAn accounting method where every transaction is recorded in at least two accounts — a debit and a credit — ensuring the accounting equation (Assets = Liabilities + Equity) always balances.E-InvoicingThe electronic generation, transmission, and storage of invoices in a structured digital format. In Saudi Arabia, ZATCA mandates e-invoicing through its Fatoorah platform.Fatoorah PortalZATCA's official e-invoicing platform where businesses submit electronic invoices for validation and clearance. Mujez integrates directly with Fatoorah for automated submission.Financial ConsolidationThe process of combining financial statements from multiple entities, subsidiaries, or branches into a single unified report. Essential for multi-entity businesses operating across GCC markets with different currencies and regulatory requirements.General Ledger (GL)The complete record of all financial transactions for a business, organized by account. The GL is the foundation of all financial reporting.GOSIGeneral Organization for Social Insurance — the Saudi government entity managing employee social insurance. Employers must register employees and pay monthly contributions.Intercompany TransactionsFinancial transactions between entities within the same corporate group. Intercompany reconciliation eliminates these transactions during consolidation to produce accurate group-level financial statements.Journal EntryA record of a financial transaction in the general ledger, showing the accounts debited and credited, the amounts, and the date.MudadSaudi Arabia's Wage Protection System that ensures timely and full payment of employee wages. Employers submit payroll data through Mudad.Multi-EntityA business structure with multiple legal entities, branches, or subsidiaries. Multi-entity accounting in Mujez allows managing separate books of accounts for each entity while providing consolidated group-level reporting.Open BankingA regulatory framework that allows third-party financial service providers to access bank data through secure APIs with customer consent. SAMA's Open Banking Framework enables platforms like Mujez to provide real-time bank feed integration and automated reconciliation.PDPLSaudi Personal Data Protection Law — the Kingdom's data privacy regulation governing how businesses collect, process, and store personal data. Similar to GDPR.QR Code (ZATCA)A machine-readable code required on all simplified tax invoices (B2C) containing TLV-encoded fields: seller name, VAT number, timestamp, total amount, and VAT amount.SADADSaudi Arabia's national electronic bill presentment and payment system. Businesses use SADAD to issue and collect payments from customers.Transfer PricingThe pricing of transactions between related entities within the same corporate group. Tax authorities in Saudi Arabia and the UAE require transfer pricing documentation to ensure intercompany transactions are conducted at arm's length.Trial BalanceA report listing all account balances at a specific point in time, used to verify that total debits equal total credits before preparing financial statements.UBL 2.1Universal Business Language version 2.1 — the XML format mandated by ZATCA for e-invoices. It defines the structure, fields, and validation rules for electronic documents.VAT (Value Added Tax)A consumption tax applied to goods and services in Saudi Arabia at a standard rate of 15%. Businesses must collect VAT, report it to ZATCA, and file periodic returns.Withholding TaxA tax deducted at source on payments made to non-resident entities for services, royalties, dividends, and other specified income. In Saudi Arabia, withholding tax rates range from 5% to 20% depending on the payment type, and must be reported to ZATCA monthly.Zakat (زكاة)A mandatory religious levy on wealth applicable to Saudi and GCC-owned businesses. Calculated annually on the zakat base (net worth adjusted for specific items) at a rate of 2.5%. Filed and paid to ZATCA alongside the annual tax return.ZATCAZakat, Tax and Customs Authority (هيئة الزكاة والضريبة والجمارك) — the Saudi government body responsible for tax collection, customs, and e-invoicing regulations.