What is E-invoice and its Benefits

The e-invoice has been debated from year to year, and it will now be mandatory to use on 1 October, as that invoice can only be sent to the public domain as an e-invoice, and as a result, part of the e-invoice. Has increased significantly.

Know what is e-invoice and its benefits

What is an e-invoice?

First, it should be clear what an e-invoice is. The e-mail invoice is not an e-invoice, and the PDF invoicing is not like the XML, because the two formats are very different in terms of options.

Invoices in PDF format are basically sheets of paper on a computer screen, but an e-invoice is a digital invoice that runs from one information system to another. For example, one company’s business software to another company’s software or an individual’s Internet bank.


E-invoices can be used by all companies

Those whose partners are in the public sector, i.e. the state, should use e-invoices for their work. Private companies have more freedom in handling invoices, in fact, the whole world is moving towards e-invoicing, as it will make it easier to reduce shipments and workloads.

E-invoices are designed for all companies – both a few employees and very large companies can save time and reduce workload with the help of e-invoices. This is a universally attractive option, as sending, receiving, and delivering invoices is as easy and quick as it is for companies to work, communicate and collaborate between them.

E-invoicing makes the job easier

The biggest advantage of e-invoices is that they do not require separate work to send and receive – information systems do this for humans. Companies also get a real-time overview of financial transactions. Since e-invoices do not have to be entered manually across different systems, the chances of reducing data entry errors are significantly lower.

The e-invoice sender does not have to worry about whether the invoice is still running and whether it has arrived, since the movement of the invoice can be monitored on the system. Payment is made once, but the recipient of the invoice can also enter into a standing order agreement, meaning the invoice will be paid automatically on the due date.

How does it feel to send an e-invoice?

For sending e-invoices, an agreement with the e-invoice operator is required. Estonia has many options for this and all operators have information systems connected. This means that the e-invoice of a customer of one operator reaches directly to the customer of another operator. You can also choose whether to send the invoice as an e-invoice to the information system, email address, or paper mailbox.

To send an e-invoice, the business software needs to create an invoice that allows the operator to access another company’s business software, and the receiver of the invoice can send the invoice for money with the click of a button.

The job of business software providers is to constantly enhance user convenience so that sending and receiving e-invoices is as easy and convenient as possible. The purpose is to enable a wide network of operators so that the customer can provide the appropriate service provider.

Set and use

Once the operator is selected and the contract is signed, the business software should be configured to send and receive e-invoices. Standard books are linked to e-invoice operators with specific activation keys and e-invoices can start running.

E-invoicing greatly simplifies the life of an entrepreneur and accountant by reducing workload and ensuring the smooth operation of invoices. This is especially true for companies that send dozens or hundreds of invoices every day. Finally, it is very difficult to find a rationale as to why the introduction of e-invoices should be postponed.

The biggest advantage of e-invoicing

E-invoice saves work time which can be used more intelligently

E-invoice prevents human error

E-invoicing gives the company the opportunity to see the financial situation in real-time

Keywords: e-Invoice, Excellent.G, Accounts, Standard Book

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