Storing electronic invoices is not only a mandatory requirement under the law but also plays an important role in ensuring transparency and readiness for data inspection and reconciliation. However, many businesses and accountants are still confused about the storage regulations, retention periods and implementation methods suitable for the existing technology system. The following article will provide detailed instructions on how to store electronic invoices, the legal requirements that must be complied with according to Decree 123/2020/ND-CP, Circular 78/2021/TT-BTC, along with solutions to support businesses in storing safely and effectively.
1. What is an electronic invoice?
Electronic bill is becoming an inevitable trend in modern financial and accounting management, helping businesses save time, costs and easily comply with tax laws.
1.1. Basic concepts and characteristics
Electronic bill (Electronic Invoice) is a type of accounting document created, processed, sent, received, stored and managed entirely by electronic means. Electronic Invoice can be of the following types: with or without tax authority code, and has the same legal value as a paper invoice if it fully meets the regulations on format, content and issuance process.
Unlike traditional invoices, e-invoices are created on software and transmitted to buyers via an electronic system. At the same time, invoice data can be directly connected to the General Department of Taxation's system to serve quick inspection and verification, minimizing the risk of errors.
Currently, electronic invoice storage must also ensure compliance with regulations regarding timing, format and traceability when necessary.
1.2. Components of an electronic invoice
A valid e-invoice typically includes two main components:
- XML file: Is the original data file containing all the detailed information of the invoice. This is the file that has legal value, used to store and submit to tax authorities when needed for inspection.
- PDF file: Is a representation of the electronic invoice for users to easily read and check. However, PDF files have no independent legal value., for illustration purposes only.
In the process electronic invoice storageEnterprises need to keep both files in full to ensure validity and serve the purpose of searching, auditing, and comparing when required.
1.3. Common types of electronic invoices
According to Circular 78/2021/TT-BTC and Decree 123/2020/ND-CP, electronic invoices are currently divided into the following common types:
- Electronic invoice with tax authority code: Authentication code is provided by the General Department of Taxation before being sent to the buyer. Usually applied to businesses with tax risks.
- Electronic invoices without tax authority codes: Enterprises self-issue invoices and are self-responsible, suitable for reputable units with stable tax situation.
- Value Added Tax Invoice (VAT), Sales invoice, public property sale invoice, national reserve sales invoice, stamp, ticket, card, fare receipt, bank service fee receipt, etc.
Understanding the types of invoices helps businesses choose the appropriate form and manage and store electronic invoices scientifically and correctly.
2. Legal regulations on electronic invoice storage
To ensure legality and avoid risks when being inspected, businesses need to strictly comply with legal regulations related to the storage of electronic invoices. These regulations are stipulated in legal documents such as the Accounting Law 88/2015/QH13, Decree 123/2020/ND-CP and Circular 78/2021/TT-BTC.
2.1. Mandatory requirements for storing electronic invoices
Storing electronic invoices is not only a legal responsibility but also an important step to ensure the integrity of accounting data. Some mandatory requirements include:
- Storage method: Electronic invoices must be preserved by electronic means, ensuring the ability to retrieve them when necessary.
- Integrity and Confidentiality: Invoice data must be stored completely, without change or error during the storage period.
- Search and print capabilities: Businesses must ensure that the system can print invoices or look up information when requested by authorities.
- Flexible in storage form: Agencies, organizations and individuals have the right to choose storage solutions suitable to their scale and operational characteristics.
- Legal value of the print: Printouts from electronic invoices are only valid for internal storage for accounting purposes and are not valid for payment, unless they are invoices from cash registers connected to tax authorities.
- Electronic signature and book printing regulations: According to the Law on Accounting, electronic documents are not required to be printed if they meet storage conditions and have valid electronic signatures.
2.2. Electronic invoice storage period
The storage period of electronic invoices is regulated based on the accounting function of the invoice:
- Minimum term: Normally, electronic invoices are accounting documents so the minimum storage period is 10 years, as prescribed by the Law on Accounting.
- Destroy after the deadline: When the storage period ends, businesses can destroy electronic invoices but must ensure that they do not lose unexpired data and do not affect the accounting information system.
- Follow storage and disposal procedures: The storage and destruction of invoices must be carried out in a controlled process, in accordance with legal regulations to avoid legal risks.
3. Methods and experiences in effectively storing electronic invoices
Properly storing electronic invoices not only helps businesses comply with legal regulations but also helps accountants easily look up, compare and manage data in the long term. Below are common methods and practical experiences that many businesses apply to effectively store electronic invoices.
3.1. Common storage media and methods
Depending on the scale and operating conditions, each business will have its own way of storing electronic invoices. However, the common point is to ensure completeness, accuracy, ease of searching and compliance with legal regulations. Below are common storage media that accountants can flexibly apply to manage invoices scientifically and effectively:
- Use private email: A separate email should be set up for receiving input invoices from suppliers and related notifications from tax authorities. It is possible to set up automatic forwarding to the internal accounting department's email for convenient control.
- Store on electronic devices: Download the invoice XML and PDF files to devices such as USB, external hard drive or permanent storage folder on the local computer. Create a clear folder structure by month, year and supplier for easy reference.
- Using Cloud Storage: Google Drive, Dropbox, or OneDrive are popular platforms for storing and synchronizing electronic invoice data. The advantage is that it can be accessed anytime, anywhere and shared internally quickly.
- Manage with Excel file: Create a list of input invoices, including basic information such as invoice number, date, supplier, value, tax code, etc. and insert a link to the original file. This method makes it easy to summarize when settling taxes.
- Organize your bills systematically: Depending on needs, businesses can arrange invoices by issue time, format (XML/PDF), or supplier name for easy filtering and searching.
- Periodic data reconciliation: To ensure accuracy, accountants need to compare the list of received invoices with data on the General Department of Taxation's Electronic Information Portal (https://hoadondientu.gdt.gov.vn/) according to each tax declaration period.
3.2. Important notes when storing manually
Although many businesses have switched to software or cloud-based e-invoice storage solutions, many still maintain manual storage methods on physical devices. However, this method poses many risks if not carefully managed. Below are important notes to help ensure safety and compliance when applying manual storage methods:
- Regular data backup: If your business still uses the form of storing invoices on physical devices such as USB or hard drives, you need to have a plan to periodically back up data to another device or cloud storage system to avoid the risk of data loss due to technical errors, viruses or device damage.
- Printed electronic invoices have no transaction value: Job print electronic invoice The printed copy is for record keeping and reference purposes only. This printout has no legal effect in transactions, except in special cases such as cash register invoices that are not connected to electronic data transfer.
4. Professional software solution for electronic invoice storage
In the context of electronic invoices becoming a mandatory form according to the law, the application of specialized software not only helps businesses save time and costs but also ensures compliance with regulations, while optimizing the accounting and financial process comprehensively. This is an essential choice to help businesses transform digitally effectively, securely and transparently in invoice management.
4.1. Benefits of using invoice management software
Management software and electronic invoice storage not only helps businesses save time and costs but also improves accuracy, security and legal compliance in accounting and finance. Below are the outstanding benefits:
- 90% Automation of input invoice processing.
- Automated, centralized and secure storage: Save physical storage space, ensure safety and security of information with cloud computing technology and clear user authorization. Many software also apply Blockchain technology to increase safety, transparency, accuracy and prevent counterfeiting of invoice data.
- Easy to manage and search: Allows to look up invoices by multiple criteria (number, issue date, customer, tax code).
- Automatic checking and reconciliation: Automatically check the validity and legality of invoices, warn about risky invoices.
- Data integration and synchronization: Easy connection with accounting software, ERP, cash register and other systems.
- Always follow the rules: Automatically update new versions as required by tax authorities.
4.2. Bizzi Solution – AI Assistant for Finance and Accounting Department
In the context of strong digital transformation, the use of professional software to electronic invoice storage not only helps businesses save costs, increase management efficiency but also ensures compliance with legal regulations. Modern software integrates many automation features, high security and flexible expansion capabilities, becoming a powerful tool for the finance and accounting department.
4..2.1. Benefits of using invoice management software
The application of software in electronic invoice storage It is not just a paper storage solution, but also a strategic step in the digital transformation process of enterprises. The following benefits show why more and more enterprises are choosing this solution:
- Automate input invoice processing: Reduce up to 90% of manual work thanks to the integration of RPA and AI technology, saving time and increasing productivity for the accounting department.
- Centralized, secure storage: Invoices are stored on a cloud computing platform, highly secure, with clear decentralization. Some software also applies Blockchain technology to ensure transparency and prevent data tampering.
- Search and manage easily: Allows quick lookup by criteria such as invoice number, issue date, customer name or tax code.
- Automatic checking and reconciliation: The software can detect invalid invoices, warn of risks, and avoid losses and errors in accounting.
- Accounting system integration, ERP: Synchronize data between invoices and other financial accounting software, minimizing repeated data entry.
- Always comply with the law: The software is automatically updated according to the latest circulars and decrees from the tax authorities, helping businesses feel secure in long-term use.
4.2.2. Bizzi Solution – AI Assistant for Finance and Accounting Department
Bizzi is one of the pioneering platforms applying AI and RPA in cost management and electronic invoice storage. Bizzi's solution helps businesses automate the entire revenue and expenditure process, control costs and store documents transparently and securely.
Some outstanding features of Bizzi in storing electronic invoices:
Bizzi provides a comprehensive solution to help businesses manage electronic invoices intelligently, securely and in full compliance with legal regulations. Features are designed to optimize financial and accounting processes and enhance cost control:
- Processing and managing input invoices (IPA + 3-Way Matching): Bizzi Bot automatically downloads, checks and reconciles invoices with purchase orders (POs) and warehouse receipts (GRs) in real-time. Validates suppliers by looking up their tax codes and legal status.
- Long term storage: Automatically record and store input invoices on the cloud platform in accordance with regulations, with a minimum term of 10 years. Invoices are encrypted and access is decentralized, ensuring information security.
- Risk Warning: Detect and notify invoices that show signs of suspicion or discrepancy compared to the original order.
- ERP and accounting software integration: Synchronize invoice data with management systems such as SAP, Oracle, MISA, Fast, etc. to help data flow smoothly and seamlessly.
- Create and issue electronic invoices: Create invoices that meet the regulations of the General Department of Taxation in XML/PDF format, and can customize invoice templates according to your own brand.
- Connect to the tax system: Invoices are sent directly to the tax authorities for authentication, ensuring transparency and legality.
- Flexible invoice lookup, download and printing: The system allows searching for invoices by code, customer, issue date... and downloading them in PDF, XML format with digital signature.
- Manage invoice status: Track the entire invoice lifecycle – from issuing, sending to customer, paying, to canceling or adjusting – on one intuitive interface.
For Bizzi, business is more than just a business. electronic invoice storage but also build an automatic, transparent and standardized financial - accounting ecosystem.
Businesses register for trial at: https://bizzi.vn/dang-ky-dung-thu/
5. Conclusion
Storing electronic invoices in accordance with regulations is not only a legal requirement but also a key factor in helping businesses ensure transparency, data security and optimize accounting processes. It is very important to understand the regulations on format, storage period, and choose the appropriate method (from manual to software automation).
Professional software solutions like Bizzi offer outstanding benefits in automation, security, and integration capabilities, helping businesses manage invoices effectively, minimize risks, and save costs in the current context of strong digital transformation.
