Business zakat calculator (stock, cash, money owed to you)

What goes into the zakat base?

• Cash and bank: the money in the till, in the bank and in mobile wallets.
• Stock: the goods you hold to sell, at their value on the day you work it out. Turkey’s Diyanet says the “current value at the time of calculation” counts, without the profit a later sale would bring; BAZNAS says the market price.
• Money customers owe you: the credit you expect to collect. Doubtful or hopeless debts are left out for now (see below).
• Minus debts due: what you must pay within the zakat year: suppliers, rent, wages, this year’s loan installments.
• Not counted: the shop itself, shelves, scales, vehicles and other fixed assets (Dar al-Ifta fatwa 456; Diyanet’s fatwa on companies).

The nisab: how much gold?

Zakat is due only on wealth that reaches the nisab and has been held for a lunar year. Every body below sets the nisab of business wealth in gold, but not the same gold. Type today’s price of one gram of gold of that purity; the calculator multiplies it by the body’s weight.

There is no single official gold price. Use the selling price of a jeweller or bank on the day you work out your zakat.

Money customers owe you: when is it counted?

• Diyanet: trade debts a customer will pay are “strong receivables”: zakat is due on them every year, and may be paid with the arrears once collected. Debts that are denied or hopeless are not counted every year; once collected, only that year’s zakat is due.
• Dar al-Ifta (fatwa 456): a company may add its good debts to the base every year, or pay zakat on each amount as it is collected.
• BAZNAS: only current receivables (“piutang lancar”) count.
• PPZ-MAIWP: trade debtors count in current assets; items not fully owned are taken out.

Which debts come off?

Diyanet reports three views: most Hanafi scholars deduct debts owed to people whether due or not; some deduct only debts already due; the Shafi’i view deducts none. For long loans it deducts only what falls due within the year. BAZNAS deducts short-term debts due; PPZ-MAIWP deducts current liabilities.

A lunar year or your financial year?

The zakat year is lunar (354 or 355 days). If your books run on the calendar year, 11 more days pass. Saudi Arabia’s ZATCA, for a fiscal year that is not a Hijri year, scales the rate by days: 2.5% ÷ 354 × 365 = 2.5777% (Implementing Regulations, article 15). The calculator offers this as an option; ask your own body whether to use it.

Your credit book makes the hardest part easy

The longest job in business zakat is the list of who owes you what, and which of it you will actually collect. In Baki Fast every customer’s balance is on one screen and long-unpaid ones stand out. See credit tracking and how to keep a credit book.