Electronic invoices - Part 1: Advantages with every step

Although many companies now offer the service of sending their mail electronically, they still exist: paper invoices. Whether it is the fear of the uncertainties of the Internet or the recipients who "would like to have it in writing" that is responsible for this - electronic invoices and the advantages for companies seem to remain unrecognised.

Versino Financial Suite for SAP Business One Finance

Electronic invoices: Simple and fast

The hours of manual work they invest there should be a reason for every company to optimise itself. Because in addition to time and money, the use of electronic invoices saves on errors and losses. Such as filing, mailing time and paper. Of course, this process is particularly effective for other work steps if invoicing is integrated into the corresponding accounting system.

Electronic invoices: Without and With compared

If this argumentation is too cryptic for you up to this point, you can use the following list to understand the individual work steps without and with the system:

Without: The address must be researched
With: Address is inserted automatically

WithoutAmounts to be billed must be listed manually
withSystem has already saved the amounts

Without: Amounts to be invoiced must be summarised in the invoice
With: The invoice is ready with one click

Without: Total amounts even have to be calculated manually (VAT included)
withOne click

Without: Payment terms are added as text (and must always be checked and updated)
With: Current standard documents are stored in the system

Without: Invoice must be printed
With: Invoice is generated and saved - electronically (in the correct format)

Without: Invoice must be checked, signed and copied
With: is cancelled

Without: The copy goes to the accounting department, another one to your own filing system (including punching).
With: The invoice remains visible in the system and is automatically recorded in the accounting process,

Without: Further processing steps must be noted manually on the invoice
With: Processing steps are automatically documented and the processor and time are also noted in the system.

Without: Folding, inserting and franking invoices. There is also often a trip to the post office.
withOne click

Without: Dispatch time to the recipient: two days
With: Shipping time: none

Without: The recipient must also process the invoice. Payment: one week later
With: If the recipient also has a system, invoices can even be read in and billed automatically

Without: Queries (due to the errors that often occur with manual invoicing) must be clarified (also on the part of the invoice issuer) and a new invoice must be issued
With: Errors are avoided and if any do occur, the invoices can be found quickly in the system for corrections

Without: For evaluations or analyses, the invoices must be saved in Excel capture.
With: One click - sometimes two

Click here for the second part: "Wrong assumptions and right answers".

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