Year-End Closing Services Saudi Arabia
Structured year-end close for Saudi businesses — accruals, prepayments, IFRS adjustments, fixed asset roll-forward, and audit-ready trial balance delivered on schedule.
The year-end close is the critical process that transforms twelve months of accounting transactions into a set of reliable, IFRS-compliant financial statements ready for external audit. Done well, it enables a fast, clean audit with minimal queries and an unqualified opinion. Done poorly, it creates weeks of additional work, extended audit timelines, and the risk of a qualified opinion that can damage relationships with banks, ZATCA, and shareholders.
Intelli Solutions manages the complete year-end closing process for Saudi businesses — from preparing the year-end adjustment journal entries and IFRS estimates through to delivering a fully reconciled, audit-ready trial balance and supporting workpapers within an agreed timeline.
Year-End Close Checklist
Revenue Cut-Off
Ensuring all revenue has been recognised in the correct period — goods delivered before year-end are invoiced, goods delivered after are not — with particular attention to IFRS 15 percentage-of-completion adjustments for long-term contracts.
Accruals & Prepayments
Posting accruals for expenses incurred but not yet invoiced (audit fees, utilities, rent, year-end bonuses) and deferring prepaid expenses to future periods.
Fixed Assets Roll-Forward
Agreeing the opening fixed asset register, adding capital expenditure, removing disposals, and computing depreciation — producing the closing fixed asset schedule for the balance sheet.
EOSB Provision
Calculating the year-end EOSB provision under IAS 19 — using appropriate actuarial assumptions for salary growth, discount rate, and employee turnover probability.
Inventory Valuation
Physical count reconciliation, slow-moving and obsolete inventory review, and net realisable value (NRV) assessment under IAS 2.
Tax & Zakat Provision
Calculating and posting the year-end Zakat and CIT provisions — with a preliminary Zakat base calculation reviewed before the ZATCA filing deadline.
Year-End Closing Services Saudi Arabia — Key Facts
Frequently Asked Questions
Other Accounting & Financial Services
Year-End Approaching? Let's Plan the Close.
Structured year-end close delivered on schedule — audit-ready trial balance and IFRS financial statements. Free planning call.