Frequently Asked Questions

Gray House offers bookkeeping, tax preparation, CFO services, and R&D tax credits for startups and small businesses. We handle the back office so you can focus on growing your business.

Gray House serves startups and small businesses across all industries. Whether you are a VC-backed startup, a professional services firm, or a growing small business, Gray House can help.

Gray House uses transparent, tiered pricing based on your business needs. We offer monthly plans for bookkeeping and annual packages for tax services. Contact our sales team for a custom quote.

Gray House can work with QuickBooks Online or our own proprietary platform. We recommend our platform for most customers as it provides better integrations and real-time insights.

Getting started is easy. Click "Get Started" to schedule a call with our team. We'll discuss your needs and create a custom plan for your business.

Yes, we take security very seriously. We use bank-level 256-bit encryption, SOC 2 Type II certified data centers, and strict access controls. Your data is never shared with third parties without your consent.

Yes! We specialize in supporting Saudi Arabian businesses with VAT compliance, ZATCA regulations, and local tax requirements. Our team understands the unique needs of businesses operating in the Kingdom.

Absolutely! Our plans are designed to scale with your business. You can upgrade or modify your plan at any time as your needs change. Just contact your dedicated account manager to discuss your new requirements.

Most clients are onboarded within 48 hours of signing up. Our team will guide you through the entire setup process.

Absolutely. We use bank-level encryption and comply with all data protection regulations.

We provide comprehensive services including bookkeeping, financial performance analysis, preparation of financial statements, and specialized accounting consultations.

By providing accurate financial reports and analyzing financial performance, we help you make strategic decisions to manage cash flow and achieve sustainable growth.

Yes, all our accounting processes and financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted in the Kingdom of Saudi Arabia by SOCPA. This ensures accuracy and acceptance by government authorities.

We provide our clients with a free accounting system that is fully integrated with the requirements of the Zakat, Tax, and Customs Authority (ZATCA), and compliant with e-invoicing regulations.

No, our service saves you the costs of hiring, insurance, and visas. We act as your complete finance department—from recording daily transactions to issuing final financial statements—with professional accuracy under the supervision of financial consultants.

Non-compliance may result in financial penalties and legal consequences. Our services ensure full compliance with regulations, protecting you from any financial or legal risks.

Value Added Tax (VAT) is an indirect tax imposed on goods and services. All businesses in Saudi Arabia are required to register, collect VAT, and submit periodic returns to the Zakat, Tax, and Customs Authority (ZATCA).

Yes, we provide services to register your company for VAT, as well as preparing tax invoices and ensuring full compliance with regulations.

The time required depends on the volume of transactions and the nature of the business. However, we ensure that tax returns are prepared and submitted accurately and on time to avoid any delays or penalties.

VAT returns must be filed quarterly within the first month of the following quarter. ZATCA may require monthly filing for large taxpayers. We ensure all deadlines are met to avoid penalties.

All Saudi Arabian companies, partnerships, and GCC companies operating in Saudi Arabia are required to pay Zakat. Foreign companies with Saudi branches may also be subject to Zakat.

The Zakat rate is 2.5775% of net Zakatable assets, which is approximately 2.5% of total assets minus liabilities. This applies to both companies and individuals.

Zakat returns must be filed within 120 days of the end of the Hijri year (approximately by mid-April in the Gregorian calendar). Payment is due at the time of filing.

The Nisab for business Zakat is equivalent to the value of 85 grams of gold. If your net Zakatable assets are below this threshold, you are not required to pay Zakat.

Yes, we provide comprehensive Zakat services including calculation, filing, advisory, and audit support to ensure your business meets all ZATCA Zakat requirements.

The required documents depend on the type of company (sole proprietorship, limited liability company, joint-stock company, etc.). They typically include national ID or commercial registration of the investors, articles of incorporation, and approvals from relevant regulatory authorities.

The time required varies depending on the type of business activity and procedures involved, but it usually ranges from a few days to several weeks, provided that all required documents are completed.

Yes, foreigners can establish companies in Saudi Arabia, provided they obtain the necessary licenses from the Ministry of Investment and comply with foreign investment regulations.

Common types include limited liability companies (LLCs), joint-stock companies, sole proprietorships, and partnerships. The choice depends on business needs, number of partners, and capital.

This depends on the type of company and business activity. In some cases, especially for foreign investors, a Saudi partner or specific conditions may be required according to Ministry of Investment regulations.

Yes, we offer comprehensive services that include managing all licenses and permits to ensure your business operates legally and remains compliant with local regulations.

The procedures include submitting a liquidation request to the Ministry of Commerce, preparing resolutions from partners or shareholders, settling all liabilities, and obtaining the required certificates from relevant authorities.

The duration depends on the nature of the company, the scale of operations, and the complexity of financial and legal obligations. It may take from several weeks to a few months.

Yes, all financial obligations must be settled—whether to suppliers, customers, or government entities—before completing the liquidation process.

Costs vary depending on the type of company and the scale of operations. They typically include government fees and professional fees for legal and accounting services.

Yes, provided that all legal procedures are completed and financial obligations are fully settled, liquidation terminates the company's legal existence.

No, all tax and Zakat liabilities must be settled with the Zakat, Tax, and Customs Authority (ZATCA) before completing the closure process.

It is the process of collecting and recording all past financial transactions (invoices, expenses, bank statements) that were not previously documented in an accounting system, and converting them into organized accounting entries. Your company benefits by building an accurate financial database that enables you to generate financial statements for previous years—an essential requirement when seeking to increase capital or apply for bank financing.

Yes, we specialize in handling accounting chaos. We review historical documents, reconcile bank balances, and settle accumulated accounts from previous years. After completing the process, we provide accurate financial statements (balance sheet and income statement) that reflect your company's true financial position during that period.

Rebuilding historical data protects you from estimated tax assessments by the Zakat, Tax, and Customs Authority (ZATCA) and helps you avoid penalties resulting from the absence of proper accounting records. It also uncovers any financial leakages or uncollected debts from previous years, strengthening your company's financial position.

The duration depends on the volume of transactions and the number of years to be processed. However, we use automation technologies to upload and process data quickly and accurately, reducing the time required compared to traditional methods. The process starts with evaluating the available documents, followed by a clear timeline for delivering the final financial statements.

Absolutely. We prepare books and records in accordance with International Financial Reporting Standards (IFRS), making the external auditor's work smooth and efficient. With clean and well-organized historical records, your company can obtain an unqualified audit report and build strong trust with investors and regulatory authorities.

Implementation timelines vary based on complexity. A basic setup can be completed in 2-4 weeks, while comprehensive enterprise implementations typically take 2-3 months. We provide a detailed timeline during the discovery phase.

Costs depend on the number of modules, customization requirements, and data migration complexity. We offer transparent pricing and provide detailed quotes after understanding your specific needs.

Implementation timelines vary based on scope and complexity. A standard implementation typically takes 4-8 weeks, while larger enterprise deployments may take 2-4 months. We provide detailed project timelines during the discovery phase.

ERPNext has no licensing fees as it is open-source. Ongoing costs typically include hosting (cloud or on-premise), maintenance, and support. We offer flexible hosting options and maintenance packages to suit different budgets.

Yes, ERPNext is fully configurable for Saudi Arabian VAT requirements and ZATCA e-invoicing compliance. We ensure your implementation meets all regulatory requirements for doing business in the Kingdom.

Custom ERP development timelines vary significantly based on scope. A minimum viable product (MVP) can be ready in 3-6 months, while comprehensive enterprise systems may take 12-18 months. We provide detailed project timelines during the requirements analysis phase.

Yes, you own 100% of the source code and intellectual property. We provide complete documentation and can transfer full ownership upon project completion or at any agreed milestone.

Yes, we have extensive experience migrating data from various systems including QuickBooks, SAP, Oracle, and other ERP solutions. We ensure data integrity and minimal disruption during the migration process.

Yes, we provide comprehensive training programs tailored to different user roles. Training includes hands-on sessions, video tutorials, and detailed documentation. Ongoing training is available as your team grows.

Both are excellent ERP solutions. ERPNext is 100% open-source with no licensing costs, while Odoo offers more out-of-the-box features but has subscription fees. ERPNext is ideal if you prioritize cost control and flexibility, while Odoo may suit businesses wanting more pre-built functionality.

ERPNext can be hosted on Frappe Cloud (official hosted service), on-premise servers, or private cloud solutions. We help you choose the best option based on your security, cost, and control requirements.

Absolutely! Odoo is highly scalable and perfect for businesses of all sizes. You can start with essential modules and add more as your business grows, making it cost-effective for small businesses.