Commission worked out automatically
Every product and broker rate is fixed in the system, so the commission and its shares are worked out the moment a policy is issued, with no side spreadsheet.
Financial & insurance activities · commissions, bank reconciliation and permissions
A commission you're owed and never claimed isn't forgetfulness — it's a missing system
In brokerage, finance and insurance, revenue is built on commissions, shares and rates, managed in scattered spreadsheets — so a claim gets lost here and bank differences pile up there. Furat works out the commission on every policy and product net of shares, reconciles bank transactions automatically, and controls approvals with financial limits and an audit trail that cannot be deleted.
Quick answer
What's the best accounting software for finance and insurance companies in Saudi Arabia?
The right financial-sector software must give you five things: commissions worked out for every policy or product net of shares, automatic bank reconciliation that exposes unrecorded transactions, tiered permissions and approvals with a financial limit for every user, an audit trail that cannot be deleted, and ZATCA-compliant invoices. Furat brings them together in Arabic; the package starts at SAR 229 a month before VAT, live in three to five days.
Last updated: 21 September 2026
SAR 229the financial sector package a month — before VAT
Commission worked outnet, for every policy and product
3–5 daysto be fully live
Audit trailcannot be deleted or edited
Why doesn't general accounting work for a financial company?
Because your revenue is a share of a transaction, not a sale price. A commission is earned when the policy is issued, split between the company, the adviser and perhaps a second broker, and collected from a third party some time later. On top of that comes heavy cash movement that needs daily reconciliation and strict permissions. A general system knows neither the policy nor its shares, so claims get lost and differences pile up.
Daily bank reconciliation
Import the bank statement and match it against recorded transactions, so anything unrecorded shows the same day.
Approval with a financial limit
Every user has a limit; anything above it goes up to whoever holds the decision, and the log keeps who approved and when.
What Furat adds in financial and insurance activities
Six capabilities built around running brokerage, finance and insurance in the Kingdom.
Commissions and brokerage by share
The company's commission and the adviser's and broker's shares are worked out and posted separately, at their collectable net.
A portfolio of policies and contracts
Every policy or finance product with its term, instalments, renewal dates and alerts.
Automatic bank reconciliation
Bank statements imported and matched automatically by rules, with a differences report — the month can't close until it is cleared.
Payer receivables ageing
Parties late in paying commissions, ranked by amount and age, with a record of claims.
Permissions and approval workflows
Financial limits by role and an approval workflow for every payment, so no transaction runs outside its authority.
A complete audit trail
Every entry, change and approval with its user, its time and its value before and after the change — nothing deleted.
How does Furat protect you from losses and risks?
Five losses that keep recurring at financial companies, and where the system stops each one with a control, not personal judgement.
| Risk | How it happens in practice | The control in Furat |
|---|---|---|
| A commission never claimed | What's due is kept in a personal spreadsheet | The commission is posted automatically on issue and shows in receivables ageing |
| Bank differences piling up | Reconciliation happens at the end of the quarter | Regular automatic reconciliation and a differences report that blocks closing until it is cleared |
| A broker's share in dispute | Rates vary and are not fixed in the system | Rates fixed in the contract for every product and broker, and worked out from there |
| A payment outside authority | Approval given verbally or by email | A financial limit for every user and a mandatory approval workflow |
| An entry changed without a trace | Corrections made directly in the books | An audit trail that keeps the value before and after the change, with its user |
In the financial sector, weak controls cost more than weak revenue. The difference between a company that is ready for audit and one that gets surprised is a log that cannot be deleted and clear approval limits.
Tighten your controlsSix points that settle the decision for a financial company
Written in advance, so you can compare them with any provider before you sign.
Mandatory segregation of duties
Whoever enters doesn't approve, and whoever approves doesn't pay — a rule built into the permissions, not the instructions.
An orderly month-end close
A closing checklist with an owner for every item; the month doesn't close until differences are cleared and approved.
Reports fit for auditors and regulators
Financial statements, audit trails and commission reports that your auditor and the regulators accept.
Tax compliance is our job
Every invoice is issued ZATCA-compliant and connected to the FATOORA platform, and every regulatory update reaches your account with no upgrade fee.
Your data stays in the Kingdom, and it is yours
Hosting inside Saudi Arabia, daily backups, and a full export available any time at no charge — your data is never held as leverage over you.
Migration and training at no cost
We move your balances, items and customers from Excel or your current system for free, and train your team remotely in Arabic until your first successful month-end close.
The financial sector package starts at SAR 229 a month before VAT and includes accounting, contracts, CRM, bank reconciliation and advanced permissions.
Compare plansThe start plan: from the chart of accounts to your first closed bank reconciliation
- Day 1A chart of accounts and controlsA chart of accounts, your products and their commission rates, approval limits, permissions and approval workflows.
- Day 2Migrate the portfolio and balancesWe enter your current policies and contracts, the commission balances owed to you and your bank accounts from Excel for free.
- Day 3Training finance and operationsTwo remote sessions in Arabic: working out a commission, an approval workflow, and reconciling a bank statement.
- Days 4–5Your first reconciliation and reviewWe run the first full bank reconciliation and review the differences and commissions report with your account specialist.
Questions financial companies ask
How does Furat work out commissions and brokers' shares?
Every product's rate and every broker's or adviser's share is fixed in the contract inside the system. When the policy or finance product is issued, the commission is worked out and posted as revenue receivable and the shares as a matching liability, so the collectable net shows with no side spreadsheets and no dispute over the figures.
Does bank reconciliation run automatically?
Yes. Bank statements are imported and matched by rules on amount, date and reference, and anything that doesn't match shows in a differences report with an owner to follow it up. The month-end close can't be approved until the differences are cleared, so they don't pile up for months and then get settled with one lump entry.
How are permissions and approvals controlled?
Every user has a role and a financial limit, and every type of transaction has an approval workflow. Whoever enters an entry doesn't approve it, and whoever approves doesn't make the payment. Every approval and change is recorded in an audit trail that cannot be deleted and keeps the value before and after the change, with its user and time.
How long does it take to get Furat running at a financial company?
Three to five working days. We set up the chart of accounts, commission rates, approval limits and permissions, migrate your portfolio, the commission balances owed to you and your bank accounts from Excel for free, train finance and operations remotely in Arabic, then run your first bank reconciliation with you.
Read also: Accounting · CRM · Contracts & e-signature · All industries · Pricing & plans
Enter one month's bank statement, and see its reconciliation yourself
Try it on data from your own company and pull a differences report — 14 days free, no bank card.