E-invoicing is new, has plenty of benefits, and is one of the biggest steps toward automating a business. How can e-invoicing benefit your small business, and how does it work?
What is e-Invoicing and why is it suddenly so important
E-Invoicing is the replacement for digital (through email or larger file formats) or paper invoicing.
The difference between an e-invoice and a digital invoice
E-Invoicing is so simple with software such as the Invoice24 App, you can cut out almost all admin involved. Simply select your format, input the information and you can bill the client then and there, it will even save said information for later invoicing. There is no longer a need for handwritten invoices or emails.
The Invoice24 app makes invoicing easy and simple. It takes less than a minute to sign up and send your first invoice. It even sorts all invoices into a comprehensive format so they can easily be looked through at a later date.
Why you would benefit from using e-invoicing
E-Invoicing introduces never before seen benefits in the world of business transactions. A few ways businesses can improve when using e-invoices are:
- Reduced time spent on admin – E-Invoicing cuts down on time spent invoicing. There’s no need to make unique invoice numbers, invoice formats, input data, price products each time. The software handles all of this for you.
- Far easier for business to be conducted across borders – The software makes invoicing across countries much more accessible. It does this by automating the transaction process and making currency exchange less of a headache.
- The money gets in far quicker – E-Invoicing allows for instant card payment. This means that payment often comes in quicker, if not instantly, and is released immediately.
- It’s far more secure than Digital Invoicing – Digital invoicing has always been susceptible to fraud or interception. E-Invoicing isn’t as it provides the option to avoid unsecured mediums such as email.
Important things to note
There are rules and regulations to E-Invoicing when it comes to VAT E-Invoicing. These rules are set by HMRC And must be followed if they apply. For more information regarding VAT, see our blog.