eInvoicing

What are the benefits of electronic invoicing?

The changeover from postal invoicing to electronic exchange saves a company in costs and time. It dispenses with the printing, distribution and postage costs for the invoice issuer, and the costs of manual invoice processing for the invoice recipient. If the company already electronically processes paper invoices, then the scanning of documents and the recording of invoice data are dispensed with using electronic invoice delivery.

ComfortMarket will gladly accept your suppliers' online invoices, automatically check them against the order and directly forward them to the accounting department. Only in the case of discrepancies in the amounts is the event sent to purchasing for checking.

As an alternative, ePhilos offers the credit entry procedure. A credit note is normally based on all goods deliveries confirmed during incoming goods control.

 

How much cab I save on costs?

A European Commission study has revealed savings of 72 percent resulting from the changeover from conventional paper invoicing to electronic invoicing. In a further investigation, it was determined that an invoice sent by post costs on average 16.16 Euros, whereas the entire process using standardised data exchange costs just two Euros.

 

 

Legislation to simplify eInvoicing

From 1st July 2011, simplified legal regulations have been in effect for electronic invoice despatching. Companies can now forego the qualified digital signature or EDI, if they use internal checking procedures.

These new legal regulations adopted as part of the Law on Simplifiying Tax apply to all company revenues effected since 1st July 2011. This was initiated by an EU directive from the previous year, by which electronic invoices either provided with a qualified digital signature or sent via EDI are no longer mandatory.

Both of these procedures continue to be valid and be highlighted by lawmakers as particularly suitable procedures for electronic invoicing – but companies can now select a third variant. This variant specifies that companies are only obligated to ensure the authenticity of the invoice's origin and the integrity of the invoice's contents. This can be achieved by any in-house control process, creating a reliable audit trail between the invoice and the performance rendered.

Legislation to simplify eInvoicing

From 1st July 2011, simplified legal regulations have been in effect for electronic invoice despatching. Companies can now forego the qualified digital signature or EDI, if they use internal checking procedures.

These new legal regulations adopted as part of the Law on Simplifiying Tax apply to all company revenues effected since 1st July 2011. This was initiated by an EU directive from the previous year, by which electronic invoices either provided with a qualified digital signature or sent via EDI are no longer mandatory.

Both of these procedures continue to be valid and be highlighted by lawmakers as particularly suitable procedures for electronic invoicing – but companies can now select a third variant. This variant specifies that companies are only obligated to ensure the authenticity of the invoice's origin and the integrity of the invoice's contents. This can be achieved by any in-house control process, creating a reliable audit trail between the invoice and the performance rendered.