What Are e-Invoices?
April 12, 2024
What Are e-Invoices?
Electronic invoicing represents the exchange of an invoice in an electronic format between the buyer and the supplier. An e-Invoice is an electronic document (in an .xml format) that contains, in a standardized and codified format, all the information that can be found in a standard invoice, allowing for its electronic processing.
An e-Invoice includes the necessary data structured in a way that is easily machine-readable to be automatically processed and imported into the enterprise resource planning (ERP) systems. This way, it does not require manual entry from either party.
eInvoices are not:
- Invoice data that lacks a standardized format presented in a PDF or Word document.
- Images of invoices;
- HTML-based invoices without a structured layout on web pages or in emails;
- Scanned papers of invoices;
- Traditional invoices sent via fax machines.
eInvoices Require:
- Creating the eInvoice with the appropriate structure (to be machine-readable).
- Transferring the eInvoice from the seller’s system to the buyer’s system.