The New Business Guide To eInvoicing
19 October 2022
In a world with an ever-increasing online presence, it should come as no surprise that invoicing can now be done online, too. The new method of ‘eInvoicing’ (short for Electronic Invoicing’) allows sellers and buyers to exchange information digitally and securely through online software.
Why Make The Switch?
For some, it may be understandably difficult to make the switch from a process that has existed for so long. However, the more traditional method of posting invoices is fast becoming an outdated and inefficient way of exchanging information.
eInvoicing could save your business considerably in both time and money. Its efficiency, accuracy and simplicity are innovative; so it is worth seriously considering joining the countless other businesses that have already made the switch.
Reduced Impact On The Environment
With the need for printing and copying heavily reduced or eliminated altogether, businesses will consume significantly less paper and ink and require fewer delivery services. This reduction in travel and production will mean your business has a smaller carbon footprint; a positive change for the environment.
More Cost Effective
As well as benefiting the environment, eInvoicing will also benefit the back pocket of businesses. Printer paper and ink can be a costly consumable, so by eliminating it businesses will enjoy significant savings that can be invested elsewhere.
With eInvoices, key details are validated before the information is sent through the network. This means that they are more accurate and will eliminate wasted time spent making invoice corrections, re-typing and scanning or chasing missing information.
eInvoices travel through a digital network called the Peppol network; a secure platform that operates with approved access using the ABNs of the seller and buyer. The security offered by this system is a significant advancement on postal and emailing services. eInvoices can only be viewed by approved parties including the seller, buyer and digital software provided, if required. The Australian Tax Offices does not have access to eInvoices.
Keeping up-to-date with the latest advice and technology ensures your business remains efficient and competitive. eInvoicing offers simplicity, accuracy and efficiency that is second to none. With the inability to lose a digital invoice, this method of information exchange will simplify tax-time responsibilities and save your business considerably in time and money.
For assistance with Tax and BAS returns, debt negotiation or payment plans, contact our expert team at Tax Negotiators here today. Our service proudly assists 80% of our clients to keep their home and business and we are ready to help you find a tailored solution to your financial situation, too.
- Australian Government. ‘eInvoicing’, Australian Tax Office, Online, 2022, https://www.ato.gov.au/Business/eInvoicing/ (Accessed 11 July 2022)
- Australian Government. ‘Benefits Of eInvoicing’, Australian Tax Office, Online, 2021, https://www.ato.gov.au/business/eInvoicing/benefits-of-einvoicing/ (Accessed 11 July 2022)
Australian Government. ‘Make The Switch To eInvocing’, Small Business Newsroom, Online, 2022, https://www.ato.gov.au/Newsroom/smallbusiness/General/Make-the-switch-to-eInvoicing/ (Accessed 11 July 2022)