Thanks to computers and the Internet, companies, no matter what size they are, have access to cost control and accounting tools, in addition to the use of electronic invoices, which are increasingly common in different parts of the world.
Electronic invoicing allows companies to bill their suppliers and customers using software and virtual platforms, helping them manage their tax obligations.
What is electronic invoicing?
Computers are no longer expensive, and there is no business, no matter how small, that cannot access one of them; there is also software designed to manage finances and movements of large companies or SMEs.
Electronic invoicing is perhaps one of the most valuable tools for business and creates the typical bills in digital format and allows shipment to the customer or supplier and registration with the tax agency for each country.
Both the United States and the European Union, and other countries have a series of rules established to use electronic invoices. Even some nations began to put aside the use of paper invoices. In the coming years, only the use of these documents will be allowed in digital format.
Maintaining the order of invoices is easier than ever since both free and paid software allows an almost automatic electronic accounting system to avoid the typical human errors when calculating amounts, percentages and entering data correctly. Never the ledgers were so orderly.
Electronic invoices of different types, from those directed to suppliers to acquire goods and services that the company requires to deliver to customers in a sale, function as a completely valid and legal receipt. The collection of taxes such as VAT is recorded.
Another advantage of electronic invoicing is that it allows generating an almost unlimited number of copies, both for the records of the same company and also for those of customers, suppliers and very important authorities, so it is always ready in the case of tax audits,
Electronic invoicing can be used in international trade as long as it complies with the country’s standards from which it was issued and from which it will be received. To ensure that this goes smoothly, the United Nations has a unit dedicated to developing and integrating these types of financial elements in international business.
Although electronic invoicing is usually more related to companies that sell objects, small service providers can also use them. They are ideal for independent workers when it comes to keeping accounting and the registration of taxes to pay.
Doctors, home service providers such as cleaning SMEs, plumbers, electricians, etc., use electronic invoices and depending on the country, these can even be issued from mobile platforms.
In addition to the ecological advantage of using less paper than in the case of physical invoices, electronic invoices eliminate the hassle of accumulating paper documents to keep the accounting well, avoiding the problems that could be lost.
If you don’t use electronic invoices, you miss out on an excellent tool that makes your life easier and helps you save money. Go to the tax agency site in your country to find out what procedures you need to do to start using them and take full advantage of them.
Ecological, economical and above all ideal to save time and work for companies and independent workers, electronic invoices are here to stay and retire the old paper invoices, an advance at the service not only of the productive sectors but also of the Ordinary individual no longer has to drown in mountains of paperwork and spend hours finding that bill you need.