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How to use e-invoicing

Online invoicing gives a host of benefits. Time saving payments and instant deposits provide a very attractive option while following internet security.

E-voicing essentially dispenses with paper invoicing.

How Does It Work?
Simply e-voicing can work by e-mailing invoices to customers rather than printing and posting. But banks can have a secure form, or use electronic funds transfer with the BACS system, see here for an explanation.

Those registered for VAT need a slightly different system. VAT regulations state electronic invoices must include all information found on a paper invoice and follow a particular format.

Benefits
  • E-invoicing can help solve the problem of late payments when caused by postal and paperwork delays. An invoice can be sent and received on the same day.
  • E-invoicing software alerts you to late payments before they become a problem. See here for more details of available software.
  • Easier to keep records of invoices sent and gives a more accurate picture a customer credit situation.
  • Electronic payments don't run as much risk of going missing in transit, e.g. stolen/damaged mail, so the system is more secure.
  • Reduces postage, stationery, and ink cartridge costs.
Where should you go next?
To decide if e-invoicing is right for your business, find out more here:
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