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 insecurities of the internet or the recipients who 'like it in writing' who are responsible for this - electronic invoices and the advantages for companies seem to remain unrecognised.

Electronic invoices: Simple and fast

The hours of manual work they invest there should be a cause for self-optimisation for every company. Because in addition to time and money, the use of electronic invoices saves well on errors and losses. Such as filing, mail 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 settled must be listed manually.
withSystem has already saved the amounts

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

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

Without: Payment terms are attached 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 stored ? electronically (in the correct format)

Without: Invoice must be checked, signed and copied
With: drops out

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, enveloping and franking invoices. In addition, there is often a trip to the post office.
withOne click

Without: Shipping 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 settled automatically

Without: Queries (due to the errors that often occur with manual invoicing) must be clarified (also on the side 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, one must convert the invoices in Excel capture.
With: one click ? sometimes two

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

One comment

By Mia - 22 January 2019 07:39

Thank you for the good information on accounting. For small companies, SAP is perhaps a bit too big. An acquaintance does it through a normal accounting company.

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