It can be said that July 2022 is a remarkable time for the accounting industry. Because from this point on, the use of electronic invoices is mandatory for all businesses. So how will businesses handle e-invoices, is reading e-invoices manually still consistent with the digital transformation trend in most industries? Follow Bizzi's post below!
1. How to format e-invoices to be standard and valid?
PDF files and XML files are two formats ofelectronic billeh. For e-invoices in PDF format, the image file represents the economic and business content of the e-invoice. This PDF file is like a regular paper invoice to help readers easily check the buyer's product and goods information.
However, the PDF version of the e-invoice has no legal value. The new XML format e-invoice is a file containing the full data of the invoice. This is a legally valid format when businesses file tax declarations and it is also a light file with high security, easy to store and transact with customers.
2. Actual situation of bill reading and invoice processing in enterprises
Does your business's accounting department encounter these problems:
- It takes a long time to download invoices
- Red eyes to read information from that bill
- Visual inspection and manual input,
- Stress accounting for all kinds of expenses
- Unsecured invoice storage system
Accounting companies often encounter a lot difficult and time consuming when you have just downloaded the invoice, check the invoice and enter the data into the accounting software or ERP software. Managing electronic invoices in XML file format is equally complex.
Most small and medium enterprises still have the habit save invoices in mail, Google Drive So when you need to retrieve it, it will take a lot of time to search.
For large enterprises, the problem is how to handle the volume of thousands of invoices per day forcing them to apply digital transformation technology to the processing process.
As for businesses with a smaller scale, fewer invoices, they wonder and feel that digitization is not necessary, despite understanding the importance of financial accounting in business operations.
Only after the lack of rigor, negligence in document management caused Tax-related mattersNew business owners pay more attention to systematizing and storing invoices in particular and standardizing accounting activities in general.
3. Electronic invoice reader software saves time and costs for businesses
Bizzi's solution helps businesses automate about 90% of invoice processing from suppliers such as downloading invoices, reading invoices, checking invoice information, Help reduce 80% time and Save the handling fee to about 1 cup of iced tea/per bill.
- Bizzi provides businesses with a free, private email to receive e-invoices
- Bizzi automatically downloads and reads e-invoices
- Automatically calculate the validity and legality of invoices
- Automatically extract data suitable for accounting and ERP software
- Store and search easily with 10-year archiving system
No more worrying about incorrect input, missing entries, or lost invoices. Bizzi is a diligent and meticulous assistant to read invoices, check invoices and process invoices including paper invoices and electronic invoices for businesses.
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