From January 1 2025, the obligation for electronic invoicing will come into force in Germany. invoicing comes into force. This legal change also affects foreign companies that maintain business relationships with German partners. with German partners. What is the situation in your company? Are your are your invoicing processes still paper-based or are you already working in compliance with the law?
What is the reason behind e-invoicing?
The introduction of e-invoicing aims to close the VAT gap in the EU and prevent tax fraud. and prevent tax fraud. Electronic invoices standardize and simplify simplify the settlement processes by enabling the contents to be checked automatically. content. In concrete terms, this means that the exchange of paper invoices will be a thing of the past from 2025. Invoices must now be sent in in a structured, electronic format in accordance with the European standard EN 16931 must be transmitted.
It is also no longer sufficient It is no longer sufficient to scan an invoice and send it as a PDF by email. Instead, the invoice data must be transmitted in a format that enables automatic electronic processing.
Companies that do not implement this changeover in time face serious consequences: Input tax deduction could be lost and tax penalties cannot be ruled out either. It is therefore crucial to make the necessary adjustments as early as 2024.
The right ERP solution as the key to e-invoicing
For companies that have not yet switched to e-invoicing, now is the time to act to prepare for the coming requirements. It is important to bear in mind that the switch to electronic invoices not only requires suitable ERP software, but also the adaptation of internal processes. This is the only way to ensure that all relevant data is transmitted correctly. Our company offers customized ERP solutions with which you can automate your invoicing processes and thus successfully master the transition to e-invoicing.
Advantages of working with electronic invoices
Even if the may seem complex at first, the changeover to e-invoices brings numerous numerous advantages. The elimination of paper invoices not only saves resources, but also time. Electronic invoices are processed faster. processed faster. This in turn reduces the error rate and – by eliminating media breaks – leads to optimized workflows. work processes.
Furthermore digitization enables more efficient verification of VAT, which VAT, which minimizes the opportunities for tax fraud. Companies, that switch to e-invoices at an early stage benefit from increased legal legal certainty and a smooth business process.
How can you prepare for the switch?
To prepare your ideally prepare your company for the changeover to e-invoicing, we offer a range of a range of modules that are compatible with the Iptor multiflex ERP software. software. These can be individually adapted to your invoice volume. The billing for these modules is based on a fair-use system: once or twice a year we check the actual number of exported or imported invoices and calculate the invoices and calculate the average from this. This means that seasonal fluctuations are balanced out for you.
The bottom line
The changeover to e-invoicing may seem like a challenge at first, but it offers great great opportunities to modernize and increase the efficiency of your business processes. Companies that act early not only ensure compliance with legal compliance with legal requirements, but also benefit in the long term from digitized, transparent and efficient invoice processing.
Arrange a free consultation with our team of experts today and find out how you can use our ERP software to make your business processes legally compliant and efficiently with the help of our ERP software.