What is Qoyod?
Qoyod is an all-encompassing cloud-based accounting platform tailored for business owners and accountants, incorporating essential features such as financial oversight, e-invoicing, inventory management, point of sale, payroll processing, and comprehensive reporting into a unified system. This innovative solution enables companies to effortlessly create invoices, record expenses, manage both customer and supplier accounts, monitor inventory across multiple sites, and track crucial financial indicators like revenue and profit through an interactive real-time dashboard. The automatic accounting entries triggered by transactions empower users without accounting expertise to manage daily financial tasks, while seasoned accountants benefit from advanced functionalities, including customizable journal templates, recurring transactions, cost centers, and multi-currency support. Furthermore, Qoyod aids in ZATCA Phase 2 e-invoicing by generating UBL XML invoices equipped with QR codes and digital signatures, which are directly submitted to the Fatoora platform, ensuring not only compliance but also operational efficiency. All in all, Qoyod enhances financial management, simplifying the process for businesses to maintain accuracy and control over their accounting practices while adapting to evolving regulatory requirements. This adaptability ultimately positions Qoyod as a vital tool for modern business operations.
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