Meeting up with people on WhatsApp. Sharing photos of your dinners, trips, and plans on Instagram. Checking out what your friends, family, and acquaintances near and far are up to on Facebook. Managing everything related to your day-to-day work with clients and suppliers via email. Not only in our personal lives, but also at work, we now do everything online. And if you don't, you're behind the times. Accounting and finance are also a digital reality, especially for public administrations and institutions. That's why electronic invoicing services are a necessity if you are a company, regardless of your size or sector.
But how far do they go and what kind of electronic invoicing services exist? That is precisely what we will try to explain in this article. And, of course, why easyap is one of the best options you will find on the market today.
What electronic invoicing services usually include
The best thing to do before developing this aspect of electronic invoicing and its most common services and advantages, is to define the concept precisely. What is electronic invoicing and what is it for? As its name suggests, electronic invoicing is exactly the same as the traditional invoicing used in any sale, but it is generated and recorded in digital format. It serves to ensure that a physical or legal buyer has paid the amount for a good and/or service correctly and in accordance with the corresponding legislation.
This definition of the functions of digital invoices is something you would already know if you are a regular reader of our blog and financial articles. However, we don't always talk about what electronic invoicing systems or services encompass.
As in any market, there are various companies that sell invoicing software and financial controls for companies. Among all of them, we can say that easyap is one of the most experienced due to our extensive track record. Likewise, with our solution, we offer you the following services for your electronic invoicing:
- Be able to issue all digital invoices for your business to all your customers.
- A digital space where you can receive invoices from your suppliers, as well as register those sent to you on paper.
- Approval of such invoices that are registered on the portal itself.
- Provide in the most detailed manner all the information about the status or situation of an invoice. And all this without the need to make phone calls, as the easyap solution is interconnected with any ERP.
- We provide you with a portal that brings together all the tax and fiscal information required by the Spanish Tax Agency (AEAT).
- A space where record employee expenses incurred by your company: meals, travel, and other costs that arise.
As you can see both on our own website and in this article, as well as when comparing us with other companies in the sector, at easyap we offer you a wide variety of services for your electronic invoicing.
Electronic invoicing and its requirements
You have already seen by reading all the online billing services we offer at easyap , you have already seen that the software is comprehensive and integrated. It includes many features and adapts perfectly to other systems and ERPs. Therefore, given that these issues intertwine finance and technology are not always easy to understand and manage, our goal is to make it easier, simpler, and more convenient for any financial manager.
The truth is that invoicing is a complex issue, whether electronic or conventional. Above all, because of the tax aspects surrounding it. To manage an electronic invoice and its requirements , you need to have certain knowledge, in addition to knowing precisely what the legal requirements are, which are as follows:
- The invoice must contain the mandatory and correct information of both the issuer and the recipient. That is, it must include the number, date of issue, description of the product or service being transferred, and a breakdown of the VAT.
- Ensure that all legal requirements are met in the billing process all legal requirements are being met, and that there is explicit consent from the recipient of the invoice to receive it.
- The signature on the invoice itself. This requirement for a digital signature requirement can, in fact, be carried out entirely electronically with a solution such as easyap.
Likewise, we could summarize by stating that the basic requirements for issuing an electronic or conventional invoice are that the data is correct, consent has been given by the recipient, and the information contained therein is authentic, complete, and legible.
Even so, in this regard, we must point out that in order to manage a billing process with the administration at present, invoicing process with the administration, the process must be online. By law and since 2015, in Spain electronic invoicing has been mandatory for any body dependent on the public administration in any of its sales.
To conclude on the subject of requirements, we at easyap would also like to remind you how important it is to take all these requirements into account. Why? Because the Spanish Tax Agency (AEAT) is always on the lookout for these kinds of issues and has the power to penalize those who do not comply properly. What's more, it can impose fines of 1% on each incorrect electronic invoice or related service issued. And if these incorrect electronic invoices or related services account for 20% or more of the business's total turnover, the penalty may be 2%.
The growing importance of electronic invoicing services around the world
With the solution we offer at easyap, as you have seen in these lines, all your needs regarding electronic invoicing and related services will be covered. In addition, as we have already mentioned, government agencies have already gotten to work to promote digital transformation.
That is why electronic invoicing in Spain is mandatory for any public institution in all its purchases and sales with companies of any kind. In fact, the government itself already has FACe, its own system for processes with facturaE (digital invoices are also referred to as such because of the XML format in which they are issued).
In turn, certain local administrations also have billing systems that comply with legislation. A good example of an electronic invoicing program from a local public body is TicketBAIin the Basque Country. This system records and facilitates everything related to taxes on transactions carried out by all companies with their customers and suppliers.
And beyond our borders, what is happening? Just a few weeks ago, we paused in this blog to comment on how the EU has just launched European funds for digital transformation. At the same time, we are seeing how countries on other continents are also rushing to support this digitization of the financial sector and businesses.
Across the pond, one of the countries that is placing the most emphasis on implementing an efficient national electronic invoicing service is Mexico with its SAT electronic invoicing system. This is the system enacted by the Mexican government, which has the same objective as that of our country. That is, to promote the digitization of the country's companies, both public and private.
At the same time, Colombia's electronic invoicing services, known as the DIAN system, are very similar to the Mexican system.DIAN invoicing system, and Chile's system, which has been named the SII electronic invoicing service. All three examples use what we have previously referred to as facturaE, in reference to its digital format.
In turn, we have the case of PEPPOL, about which we published an article a few months ago. Although it is not a standard electronic invoicing system or service, it is a security platform or protocol used in the transmission of data and information in digital invoicing processes.
Originally, PEPPOL (an acronym for Pan-European Public Procurement Online) was enacted by the European Commission for operations within Europe. However, its positive results led to its widespread use, and today it is used in Canada, Australia, New Zealand, South Africa, and the United States.
A customized solution for your online invoices
The solution we implement at easyap for electronic invoices uses PEPPOL. In addition, we have more than 20 years of experience working with companies and SMEs on projects around the world. Therefore, with our software, you can do business with other companies and institutions from virtually anywhere in the world.
In addition, we tailor the price of our solution to the turnover of each of our clients. This allows us to work efficiently on a wide variety of projects, as we adapt to all types of companies. Would you like to learn more about the advantages of implementing our services for your electronic invoices? Just get in touch with us. contact us.
