Electronic Invoice
The electronic invoice is a cost-and time-efficient alternative to the traditional paper invoice system, it also reduces the effort and time required from suppliers, and works as a more efficient system. And to improve the tax and legal situation of many companies, provide a professional way of creating and sending invoices.
Among the benefits of using an electronic invoice are improving the accuracy of financial records and accounts, reducing administrative errors, the cost of printing, shipping and paper storage. Some countries also require the use of electronic invoices instead of paper invoices, as they improve tax procedures and reduce fraud and manipulation of accounts and taxes.
The electronic invoice system includes several features, including a unique invoice number that does not repeat, a unified form and content of the invoice, a unified configuration of goods and services, an electronic signature to ensure full security of billing data and proof of legal authenticity for users of the system, instant notifications for both the seller and the buyer to share billing data, save invoice data and the possibility of reviewing and printing them.
Electronic invoice features & benefits
An electronic invoice is one of the digital documents used to prove transactions for the sale of goods and services, characterized by the following :
- Ease of electronic data exchange.
- Ease the burden of writing and collecting paper data.
- Keep records and not get lost.
- Reduced costs.
- Ease of tax examination.
- Elimination of the informal economy.
- In addition, it contributes to the protection of the environment by reducing the use of paper and conserving resources
- The application of the electronic invoice system comes in line with the state's policy to automate all its activities, which helps to develop the state and eliminate corruption and tax evasion.
