Some sellers (and buyers) still do not trust electronic invoices – out of habit and fear of ignorance of the regulations, they issue paper documents. Or they don’t know the benefits of e-invoicing. So it’s time to catch up. Get to know the basic advantages of issuing electronic invoices.
What are electronic invoices?
Electronic invoices are nothing more than regular invoices sent to the customer online by invoice maker, usually as PDF. Invoice file reaches the customer by e-mail and they can pay via link, it will still be an electronic invoice even if it is printed.
Such documents are fully legal and are increasingly replacing paper invoices. This is because, for several years, you have not needed the customer’s consent to an invoice sent by e-mail. If he receives such an invoice and does not object, it is assumed that he agrees.
Fortunately, electronic invoicing has a lot of advantages!
Fast delivery to the customer
The path that an electronic invoice must go through is shorter than its paper counterpart. The seller sends the document from his computer to the client’s computer. The e-invoice is delivered to the addressee in just a few seconds. There is no need to use the mail services or visit the recipient of the goods or services yourself.
Moreover, by using the appropriate online application, the invoice can be issued during the meeting with the client and sent to him at the same time. Thanks to this solution, the document in electronic format can be issued and delivered to the recipient from any place with Internet access.
Saving – time and money
Supplementing the necessary data, printing and finally delivering the invoice to the customer in person or by mail – such a system can take a lot of time. This is true when the business grows, the number of transactions increases, and the amount of time spent on invoicing.
In addition, there are the costs associated with the purchase of an envelope and stamp, not to mention the ink needed for printing. In this context, an electronic invoice is a more economical solution. Instead of paper, an envelope and a stamp, an e-mail with the appropriate attachment is sufficient. And you can forget about queues at the bank or the post office.
Whether it is an electronic or paper invoice, the entrepreneur is obliged to store it. According to the regulations, such an obligation exists for 5 years. It is counted from the end of the year in which the tax payment deadline to which the document relates has expired.
Even in activities requiring only a few invoices a month, the number of stored documents will reach several hundred after five years. And this requires finding the right amount of space. In the case of paper prints, it may be necessary, for example, to allocate a separate cabinet for binders with invoices.
What does it look like with electronic invoices? Of course, some space is also needed, only on the computer’s hard drive. And this is a fundamental difference in favor of e-invoicing.
According to conservative estimates, to print the current number of paper invoices issued in U.S, it is necessary to process over 250,000. Additionally, billions of liters of water are polluted by the annual production of invoices. These are numbers that can make your imagination run wild. You should also remember a large amount of energy used to produce paper.
On the other hand, an electronic invoice is a convenient and practical solution and largely environmentally friendly. Entrepreneurs who care about environmental protection will surely appreciate it.
Electronic invoice has other known advantages.
As it is an electronic file sent by e-mail, there is nothing to prevent us from sending the customer and the invoice a very simple method of paying by online transfer. Just attach a link to Quick Payments.
When the customer clicks on the link, he will get access to an online payment “gateway” connecting to the selected bank. Payment by BLIK or credit card is also available. He can make a transfer without providing the account number and seller details, and the funds will go straight to the account “tied” with Quick Payments.
Fast Payments significantly simplify and speed up transactions – they are only possible by electronic invoices. In the case of a paper invoice, there is no such form of instant payment.