Kuwait

Cloud ERP for trading groups and family companies in Kuwait City

Kuwait City's trading groups and family companies run several companies with no VAT, a dinar in three decimals, PIFSS for Kuwaiti staff and indemnity for everyone. Aqid ERP keeps each company's books in fils, reads the group together and runs the payroll with both.

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In short

Kuwait City's trading groups and family companies run several companies with no VAT, a dinar in three decimals, PIFSS for Kuwaiti staff and indemnity for everyone. Aqid ERP keeps each company's books in fils, reads the group together and runs the payroll with both. The Premium plan fits, at KWD 17.9 a month, with a 60-day free trial. Not built yet: Aqid ERP produces no salary file for Kuwaiti banks, and computes neither Zakat nor the National Labour Support Tax; the statements are what your adviser files from.

At a glance

CityKuwait City, Kuwait
E-invoicingNo e-invoicing mandate in Kuwait; invoices go out as PDF, with a QR code if you want one
VATNo VAT. Zakat and the National Labour Support Tax are not computed; the year-end statements are kept for your adviser
PayrollPIFSS contributions for Kuwaiti employees, indemnity under Article 51, payslips in Arabic and English; no Kuwaiti WPS file yet
CurrencyKWD, to 3 decimal places on every document and in the ledger
Recommended planScale, for a group: several companies under one login with consolidated statements, unlimited payroll and the API.
PriceKWD 17.9 a month · 60-day free trial today, no card
Not built yetAqid ERP produces no salary file for Kuwaiti banks, and computes neither Zakat nor the National Labour Support Tax; the statements are what your adviser files from.

Business in Kuwait City, and the part Aqid ERP plays

Kuwait City and its governorates hold almost all of the country's private business: the trading houses and their agencies, retail and food groups, contractors, and the service companies around the oil sector and the state, many of them family groups of several companies.

Their books have no VAT line, but they do have the dinar's three decimals in every total, PIFSS contributions for Kuwaiti employees, indemnity under Article 51 for all staff, and several companies to read as one. Aqid ERP keeps those exactly and leaves Zakat and the labour support tax to your adviser.

How a business in Kuwait City runs on Aqid ERP

Dinars to the fil

Every amount is kept and rounded to three decimals, on the invoice, in the ledger and on the statements, so a KWD 12.345 line is never a KWD 12.35 one.

Several companies, one group

Each company of the group with its own chart and statements, read together in consolidated statements with the intercompany balances shown.

Statements an auditor starts from

Profit and loss, balance sheet, cash flow and changes in equity in the IFRS for SMEs set, with locked periods and an audit trail of every change.

PIFSS and indemnity

Monthly payroll with PIFSS contributions for Kuwaiti employees, indemnity accrued under Article 51 for everyone, leave, loans and bilingual payslips.

A month at a trading and services group in Kuwait City (example)

  1. Say a trading and services group in Kuwait City invoices KWD 420,000.000 of goods and maintenance contracts in October. Kuwait has no VAT, so the invoices carry no tax line, and every amount is kept to three decimals in fils.
  2. A supplier bills KWD 96,000.000 for showroom rent and freight, posted against a purchase order and tagged to the retail company. The bill is paid from the bank account and reconciled against the statement.
  3. Payroll for 34 staff runs with PIFSS contributions for Kuwaiti employees and indemnity accrued under Article 51 of the Labour Law, and its cost is posted to the books from the same run.
  4. The month's profit and loss by cost centre shows the retail company with its KWD 420,000.000 of revenue against the bill and its share of payroll, so you see what each line of work earns before the year end.
  5. These figures only show the arithmetic. Which taxes apply to your business is for your adviser.

The parts you will use

Several companies

Each company's books kept apart under one login, with consolidated statements and an intercompany report on Growth and Premium.

Accounting and reports

A chart of accounts for Kuwait, bank accounts and reconciliation to the fils, fixed assets, and the IFRS for SMEs statements.

Sales

Invoices and credit notes in KWD to three decimals, quotes, automatic reminders, and statements by email or WhatsApp.

Payroll

Monthly payroll in KWD, PIFSS contributions for Kuwaiti employees, indemnity under Article 51 and bilingual payslips.

The rules in Kuwait, and what Aqid ERP does with them

Tax: Kuwait has no VAT. Zakat and the National Labour Support Tax on listed companies are not computed; the IFRS for SMEs statements they start from are kept as you work, for you or your adviser.

Money: the dinar is divided into 1,000 fils, and Aqid ERP keeps three decimals on every document, in every report and in the ledger, so a fils is never rounded away.

E-invoicing: no mandate applies in Kuwait. Invoices and credit notes go out as PDF, with a QR code if you want one.

Payroll: PIFSS contributions for Kuwaiti employees, indemnity accrued under Article 51 of the Labour Law, leave and claims, and payslips in Arabic and English. Kuwait's salary files through the banks are not produced yet; the bank's template is filled from the pay run's figures.

Plans for a business in Kuwait City

Starter

For small businesses that need compliant invoicing

6.5 د.ك / month

  • Bilingual invoices
  • Customers & quotes
  • Payroll and WPS file for up to 5 employees
Start now for free

Growth

For teams that want the full books, not only invoices

9.1 د.ك / month

  • Everything in Starter
  • Full ledger & reports
  • Unlimited payroll, inventory and consolidation
Start now for free
Recommended

Premium

For companies with branches, devices and volume

17.9 د.ك / month

  • Everything in Growth
  • Branches & devices
  • Consolidation & API
Start now for free

Compare the plans in detail

Questions

Does Aqid ERP keep Kuwaiti dinar amounts to three decimals?

Yes. Amounts in KWD are kept, rounded and shown to three decimals on every invoice, ledger line and statement, and the same holds for OMR and BHD. The rounding is tested in the suite that runs before each release.

Does Aqid ERP keep Kuwaiti dinars to three decimals?

Yes. Every amount on an invoice, a bill, a payslip and in the ledger carries three decimals, and the reports add them up without rounding a fils away.

Does it run Kuwaiti payroll?

Monthly payroll in KWD with PIFSS contributions for Kuwaiti employees, indemnity under Article 51, leave and claims, and bilingual payslips. The salary file your bank asks for is not produced yet; the run gives you each employee's net pay and IBAN.

Industry pages for Kuwait City

Trading & distributionProfessional servicesAll industriesAccounting firms in Kuwait City

Other cities in Kuwait

AhmadiAll cities in Kuwait

Aqid ERP in Kuwait

Set up for Kuwait's rules from the first day.

  • Plans from 6.5 د.ك a month
  • No VAT
  • PIFSS
  • Indemnity (Art. 51)
Aqid ERP for KuwaitPrices in KuwaitBusiness taxes in Kuwait: what a company actually paysPaying salaries in Kuwait: payday and bank-transfer rulesLeave and working hours in Kuwait: the rules payroll follows

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