Invoicing is part of the day-to-day business of SMEs, requiring an effort in both time and resources. In this post we tell you everything you need to know about digital invoicing, as well as the solutions offered by the Kit Digital!
Thanks to its many benefits, the number of companies invoicing electronically has increased considerably in recent years. Such has been its importance that it is already mandatory for some companies, and will be for others in the near future.
In fact, since 2015, the use of electronic invoicing has been mandatory for working as a Public Administrator supplier. And from 2023, the obligation to issue and send electronic invoices will be extended to all commercial relations between companies and the self-employed. So that you can keep up to date with this new obligation, we explain all its features below.
What is an electronic invoice?
As indicated by the Ministry of Finance and the Civil Service, an electronic invoice is a conventional invoice, with the difference that it is issued and received in electronic format. Although it has the same legal effects as a paper bill, the digital version requires the prior consent of the recipient.
There are two types of electronic invoices:
- Structured format: the data is generated automatically by the invoicing systems.
- Unstructured format: issued directly in PDF format, but can also be scanned on paper.
When does it become mandatory?
Due to the implementation of the "Crea y Crece" Law, from 2023, electronic invoicing will be mandatory for all self-employed workers or companies with an annual turnover of more than 8 million euros. Those with invoicing of less than 8 million euros will have until 2025 to issue their invoices digitally.
What are the benefits of electronic invoicing?
Having in mind the above context, we would like you to know the benefits of implementing electronic invoicing in your company.
- Time saving: having electronic invoicing tools will streamline and simplify all accounting procedures, saving a considerable amount of time.
- Cost savings: thanks to the fact that digital invoices are sent online, you will save on printing and mailing costs.
- Improved and easier organisation of data: the electronic invoicing system makes it easier to organise and search for accounting data.
- Reduced human error: the higher the level of process automation, the lower the possibility of human error.
- Improved business sustainability: not only does it reduce the monetary impact for the company, but it also contributes to improving sustainability, as we go from having hundreds and hundreds of invoices in physical format to having them all in online format.
How can the Kit Digital help me?
Now that you know all about digital invoicing, you need to familiarise yourself with the solutions offered by the Kit Digital Programme.
This offers you a maximum grant of €2.000 for the digitisation of invoicing in SMEs. This aid is divided into the following segments depending on the number of employees:
- 0 < 3 employees: €1.000 (includes 1 user).
- 3 < 9 employees: 2.000€ (includes 3 users)
- 10 < 50 employees: 2.000€ (includes 3 users)
Thanks to this solution, you will be able to digitise the flow of issuing and receiving invoices from your customers and suppliers. Its functionalities and services include:
- Invoices in structured format: you will be able to issue invoices in structured formats.
- Unlimited invoices and clients: you can issue and receive an unlimited number of invoices and send them to an unlimited number of clients.
- Sending and receiving invoices: you will be able to send and receive electronic invoices directly, at least by e-mail.
- Periodic backups: possibility of making backup copies on a daily basis.
- Generation of an invoicing record: you can generate an invoicing record, simultaneously or immediately after invoices are issued.
As mentioned above, digital invoicing is increasingly necessary for SMEs and the self-employed because it streamlines, automates and greatly reduces the time we spend on this process. Not only because of its benefits, but also because of its mandatory nature, the time has come to digitise your invoices, so contact our Digitalising Agents to do it!