Mastering How to issue electronic invoice Not only is it a legal requirement, it is also the key to helping businesses cost effective management and save time operation. In the context of regulations such as Circular 78/2021/TT-BTC and Decree 123/2020/ND-CP is constantly updated, it is extremely important to understand and accurately implement the process.
Bizzi will provide a detailed guide on How to issue electronic invoice, help you confidently perform, ensure legality, accuracy, and explore advanced solutions to optimize processes to professional standards.
1. What is an electronic invoice? Overview of regulations and benefits for businesses
Electronic invoice (E-invoice) is an invoice presented in the form of electronic data, created by organizations and individuals selling goods and providing services using electronic means to record information on sales and service provision. Switching to using electronic invoices brings many outstanding benefits to businesses:
- Significant cost savings: Reduce costs of printing, paper, ink, shipping and storing invoices compared to traditional paper invoices.
- Improve management efficiency: Easy to look up, centralized management, safe storage, minimizing the risk of data loss or error. Convenience and accuracy significantly improved.
- Ensuring legal compliance: Response mandatory according to new regulations on electronic invoices belong to tax authority, typically Circular 78/2021/TT-BTC and Decree 123/2020/ND-CP, helping businesses avoid unnecessary legal risks.
- Environmentally friendly: Contribute to national digital transformation and environmental protection.
General Department of Taxation Vietnam has been constantly improving the electronic invoice system, creating favorable conditions for enterprise and business households in implementation and management.
2. What do I need to prepare before issuing an electronic invoice?
To process electronic invoice To take place smoothly and legally, businesses need to carefully prepare the following factors:
- Register to use electronic invoices with tax authorities: This is the first step and carries mandatoryEnterprises need to submit a declaration form for registration/change of information on using electronic invoices (Form 01/DKTĐ-HĐĐT Appendix IA issued with Decree 123) to tax authority direct management
- Choose a reputable e-invoicing software or service provider: The market has many electronic invoice service provider like Bizzi with solution Comprehensive electronic invoice B-Invoice, in addition there are MISA, Viettel, VNPT, Bkav. You need to choose software that meets standards, has a friendly interface, suitable features and ensures security high for data.
- Ensure necessary technical requirements:
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Digital Signature (USB Token or HSM): Must be valid digital signature, still valid by the legal representative or authorized person.
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Device and internet connection: Computer with stable internet connection to access electronic invoice software and perform operations.
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Plan electronic invoice storage: Ensure that invoice data is stored safely, securely and easily retrieved for a minimum period of 10 years as prescribed.
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3. Legal regulations related to electronic invoices
Electronic invoices (E-invoices) are a collection of electronic data messages on the sale of goods and provision of services, which are created, created, sent, received, stored and managed electronically. Using E-invoices helps businesses save costs, increase management efficiency and meet the requirements of modernizing accounting and tax work.
Overview of Circular 78 and Decree 123 related to electronic invoices
To provide detailed guidance on the implementation of e-invoices, the Ministry of Finance issued Circular 78/2021/TT-BTC dated September 17, 2021, guiding the implementation of a number of articles of Decree 123. This Circular specifically regulates the content, format, sample number symbols, e-invoice symbols, handling of erroneous e-invoices, as well as the conversion from paper invoices to e-invoices.
According to Circular 78, the electronic invoice must ensure mandatory contents such as: name, address, tax code of the seller and buyer; name of goods and services; unit; quantity; unit price; total amount; value added tax rate; total payment amount; digital signature of the seller and buyer (if any). In addition, the electronic invoice must be presented in Vietnamese; if there is a foreign language, it must be placed after Vietnamese and have a smaller font size.
The implementation Electronic invoices according to Circular 78 Decree 123 is an important step in modernizing tax management, contributing to creating a transparent and favorable business environment for enterprises.
4. Detailed instructions on the process of creating and issuing electronic invoices
Creating and issuing electronic invoices is an important part of modern business operations, helping businesses comply with legal regulations and improve management efficiency. Below is a detailed guide to two popular methods for implementing this process:
Method 1: Import data from Excel file
This method is suitable when businesses need to create multiple invoices at the same time, helping to save time and minimize errors.
Steps to follow:
Prepare Excel file:
- Use the sample file provided by the electronic invoice software or create an Excel file with necessary information columns such as: order number, customer name, tax code, address, product/service name, quantity, unit price, tax rate, total amount.
- Ensure data is entered accurately and completely.
Import data into the software:
- Log in to the electronic invoice software.
- Select function “Import” or “Import” from menu.
- Upload the prepared Excel file.
- Identify the sheet containing the data and the column header rows in the Excel file.
- Match the data columns in the Excel file with the corresponding fields in the software.
- Check and confirm the import.
Invoice issuance:
- After the data is successfully imported, check the information of each invoice again.
- Sign and issue electronic invoices.
- Send invoices to customers via email or agreed communication channels.
Method 2: Create directly on B-Invoice software
Step 1: On the Menu bar, select “Manage invoices”, then select “Create invoices” or “Sales invoices”. The system displays a list of sales invoices and click “Create new”.
Step 2: On the Invoice interface, customers need to note the following:
– Symbol section: Select the invoice symbol according to the created invoice template.
– Buyer Tax Code: Enter the buyer's tax code.
– Unit name field: Enter the buyer's name.
– Address field: Enter the buyer's address.
– Payment method section: select the corresponding payment method such as TM/CK, cash, bank transfer, etc.
Note: information such as Buyer, email, phone number, account number, bank can be filled in or omitted.
– Enter information about goods and services, select currency, exchange rate and other value fields appropriate to the business.
Step 3: Select “Send Draft Invoice” to the customer or “Preview” the created invoice. Then click “Create New” to save the created invoice.
Step 4: Select the newly created invoice, click “Issue invoice” to sign and send the invoice to the Tax Authority. Wait for the Tax Authority to issue the CQT code.
Note: Before signing, the enterprise needs to open the digital signature software and log in with the Pin code.
Note: The specific steps may vary depending on the software used. For example, the software B-Invoice Provides detailed instructions on invoicing directly on the system.
5. How to manage and store electronic invoices
Managing and storing electronic invoices not only helps businesses operate effectively but also ensures compliance with current legal regulations. Below are regulations on storing electronic invoices and effective management methods:
5.1 Regulations on storing electronic invoices
According to Clauses 1 and 2, Article 6 of Decree 123/2020/ND-CP, the storage of electronic invoices must ensure:
- Storage media: Electronic invoices must be stored electronically, in accordance with the specific operations and technological application capabilities of the enterprise.
Integrity and Confidentiality: Ensure safety, security, integrity, completeness, and no changes or deviations during storage. - Accessibility: Electronic invoices must be ready to print on paper or be looked up upon request.
- Storage period: According to Article 13 of Decree 174/2016/ND-CP, electronic invoices are accounting documents and must be stored for at least 10 years.
5.2 How to effectively manage electronic invoices
To manage electronic invoices effectively, businesses can apply the following methods:
- Use electronic invoice management software: Specialized software Bizzi Helps automate the process of receiving, checking and storing invoices, minimizing errors and saving time.
- Set up dedicated email: Create a separate email address to receive and manage electronic invoices, helping to focus and easily track.
- Cloud storage: Use cloud storage services to ensure data security and flexible access.
- Regular backups: Perform periodic backups of electronic invoice data to prevent loss due to technical problems.
- Employee training: Ensure employees clearly understand the process of managing and storing electronic invoices, and comply with relevant legal regulations.
Complying with regulations on electronic invoice storage and applying effective management methods will help businesses operate smoothly, minimize risks and ensure legal compliance.
6. How to handle incorrect electronic invoices and situations that arise
During operation, errors are inevitable. It is important to know how to handle erroneous electronic invoices according to regulations:
- In case the invoice has errors and has not been sent to the buyer: The seller cancels that invoice on the software and creates a new invoice.
- In case the invoice has errors sent to the buyer:
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Errors in the buyer's name and address but not the tax code and other information are correct: The seller notifies the buyer that the invoice is incorrect and does not need to re-issue the invoice.
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Errors in tax codes, amounts, tax rates, tax amounts, or goods that are not of the correct specifications or quality: You can choose one of two ways: Adjustment invoice or replacement bill for invoices that have been issued with errors. There must be an agreement between the seller and the buyer.
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- Always keep informed tax authority according to Form 04/SS-HDDT (if necessary) and comply with the instructions of General Department of Taxation.
7. Important notes when using electronic invoices
To ensure compliance with legal regulations and avoid errors during use, businesses need to note the following important points:
Comply with legal regulations on electronic invoices
- Roadmap for applying electronic invoices: According to Circular 78/2021/TT-BTC, from July 1, 2022, all enterprises, economic organizations, business households and business individuals are required to use electronic invoices. Non-compliance may result in penalties as prescribed.
- Register to use electronic invoices with tax authorities: Before using, businesses must register and be approved by the tax authority. This process includes sending a notice of electronic invoice issuance and the expected invoice sample to be used.
Choose and use appropriate electronic invoice software
- Selection criteria: The software must meet the prescribed technical standards, ensure safety, information security and be integrated with the enterprise's existing accounting system.
- Employee training: Ensure that accounting staff and relevant departments are fully trained in how to use the e-invoice software to minimize errors in the process of creating and issuing invoices.
Check information before issuing invoice
- Buyer Information: Make sure information such as company name, tax code, address and other relevant information is correct.
- Product/service details: Double check quantity, unit price, tax rate and total value to avoid errors.
Handling errors on invoices
- Case not sent to buyer: If an error is discovered after the tax authority has issued a code but has not yet sent it to the buyer, the enterprise must notify the tax authority according to Form No. 04/SS-HDDT and issue a new invoice to replace it.
- Case sent to buyer: If an invoice has been sent and an error is discovered, the business needs to make a record of agreement with the buyer to cancel the erroneous invoice and issue a new invoice to replace it.
Storage and security of electronic invoices
- Storage time: Electronic invoices must be stored for at least 10 years as prescribed.
- Information Security: Ensure that the storage system has security measures in place to prevent unauthorized access, loss or corruption of data.
Regularly update legal regulations
- Follow information from authorities: Regulations on electronic invoices may change, therefore, businesses need to regularly update information from the Ministry of Finance, General Department of Taxation and relevant agencies.
- Participate in training courses and seminars: To keep up with the latest changes and guidelines, businesses should participate in training programs and seminars on electronic invoices.
Periodically check the electronic invoicing system
- Performance Evaluation: Conduct periodic checks to ensure the electronic invoice system operates stably, meets business needs and complies with legal regulations.
- Troubleshooting in a timely manner: When an incident or error is detected, immediate corrective action must be taken to avoid affecting business operations and comply with the law.
8. Close cooperation with tax authorities
- Timely reporting: In case of errors or incidents related to electronic invoices, enterprises need to notify and coordinate with tax authorities to resolve.
- Comply with inspection and testing requirements: When the tax authority conducts an inspection, businesses need to provide full information and cooperate so that the process goes smoothly.
Ensuring the integrity and authenticity of electronic invoices
- Digital signature: Electronic invoices must be digitally signed by authorized persons to ensure legality and authenticity.
- Check verification code: For electronic invoices with tax authority codes, it is necessary to check the authentication code to ensure the invoice is valid.
Handling special situations
- Power outage, internet outageEnterprises need to have a backup plan to ensure that the creation and issuance of electronic invoices is not interrupted in these situations.
- Change business information: When there is a change in information such as address or tax code, businesses need to promptly update the electronic invoice system and notify the tax authorities.
8. Conclusion
Hold on How to issue electronic invoice and related regulations not only help businesses comply with the law but are also an important step in cost effective management, save time, and modernize operational processes. This is the foundation for sustainable development in the digital age.
For detailed advice on comprehensive e-invoicing solutions that help your business optimize processes and save costs, explore professional solutions like B-Invoice - designed to meet all business needs from basic to advanced.
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