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How the e-invoicing works

Electronic Invoicing helps the people to leave their live easier compared to when they use paper based or manual based processes because the system is modern, secure, automated and simple.  It is the best way that people are embracing to do their businesses. With the e-invoice, you can reduce the complexity of the account payable and account receivable process while handling all the sales and purchasing the invoices using only one provider. You will also be able to have a better relationship with your suppliers and customers since the e-invoicing may enable greater profits for all the involved parties.

The electronic billing system is sending the invoice and payment electronically. The e-invoice has two parts which are the image and data components.  The reason to have the e-invoice data is to enable the customers and the business to access to the same information at once. If you are not sure if it is the right decision to start using the e-invoice, you have to know that you can start to save if you use e-invoice. This is because you can easily get rid of the time consuming manual process that involves keying, scanning, mailing, filling of the envelopes, printing on letterhead and keeping the invoice data. When you get the e-invoice software, you will be able to use a more efficient and faster method while reducing the errors and time taken to fill the manual work.  You will also be able to get greater control and visibility over the cash flow and the money you spend.

However, you have to know that the e-invoicing is not that simple. You will find out that there is no standard format that can be used for all the invoices. The customers and the suppliers may have different needs and the methods that they would like to receive and to send their invoices. Another problem is that the legislation about the electronic billing may differ from one country to another. To make sure that you can solve the problem of invoicing, you have to hire the people who are expert in invoicing software or you can outsource the services from the provider of electronic invoicing.

 Now many governments are making sure that there is the regulation that govern the digital invoicing via data format or CFDI (comprobante Fiscal Digital a traves de Internet).  Sending or issuing of the invoice under this law requires the person to use the CFDI format since the construction and the issuance of invoices have to undergo the steps that are recognized globally.  The invoice has to be generated using the system which will not exactly the time that it had been generated. The senders for the digital invoice may have to posses the digital certificate that has been approved by a required authority such as PAC. The authority in charge, after making sure that the invoice meets all the regulation, it will add the unique certificate number on the invoice. The authority may have to report the creation of the invoice within 72 hours.

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