Electronic invoicing (e-invoicing)

16/12/21 Written by Rob Brint

Electronic invoicing (e-invoicing) is the automated digital exchange of invoice information directly between a supplier's and buyer's software based on an agreed standard.

With e-invoicing:

• businesses will no longer need to generate paper-based or PDF invoices that must be printed, posted or emailed

• buyers will no longer need to manually enter or scan these into their software.

e-invoicing is the new fast and easy way to automatically send and receive invoices in your software. It doesn't rely on email and attachments, such as PDF files and transmits securely by approved ATO service providers.

Benefits of e-invoicing

• save time and money by reducing manual data entry, as invoices appear in your software, ready to be paid

• no need to fix errors, or chase missing information or lost invoices

• get paid faster and improve your cash flow

• reducing the risk of scams and fraud

• support the environment by reducing printed records

There are a number of 'e-invoicing ready' products available, including free or low-cost solutions.

You can only send e-invoices to businesses that are registered on the e-invoicing network. Let your trading partners know you're registered and encourage them to get started.

For the latest e-invoicing information visit the ATO or contact Outsource CFO about how to get started.