What you need to know about e-Invoicing (Electronic Invoicing)

What you need to know about e-Invoicing (Electronic Invoicing)
There is a dramatic transformation currently occurring with digital technologies around the globe and in Australia.  Businesses are implementing Electronic Invoicing, the automated digital exchange of invoice information between suppliers’ and buyers’ software through a secure network.

What is e-Invoicing?
E-Invoicing is helping businesses move away from the traditional paper invoices being physically sent in the mail and stored in a filing cabinet.  Invoices are now being sent from one accounting system to another as a digital exchange.  This allows for automated entry into your accounting system and automated processing of invoices.

The benefits of E-Invoicing:

• Universal electronic data interchange (EDI) – no need to purchase multiple software programs to transact globally
• Increased accuracy
• Removal of manual processing
• No lost invoices
• Faster payments
• Accurate business reporting with real-time financial information

There is no additional cost associated with e-Invoicing.  Many small business accounting software providers already offer e-Invoicing; as long as your business partners are connected to the Peppol network you will have seamless exchange of invoicing.
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If you need help getting started with e-Invoicing, please feel free to contact us or check out the link below for further information about Peppol.
https://www.ato.gov.au/business/eInvoicing/peppol/