Electronic invoicing

Most of us routinely pay for purchases by credit card, we use the internet or GSM banking for transfering money, we virtually trade stock. However, in the area of accounting, the so-called “paperless office” has been left behind and we are still re-entering data and archiving folders full of paper documents. Electronic invoicing significantly facilitates the workload and streamlines your company processes.

According to the analysis of Businessworld.cz, companies in the Czech Republic exchange about 250 million invoices annually, out of which only a little over 5% is made in electronic form. Most companies that receive electronic invoices print them and keep them in printed form. Moreover, around 20% of the firms who receive an invoice in PDF format, even print it repeatedly …

The installation of electronic invoicing is not a big deal technically – most accounting programs already contain this feature built in! The key factor is that you need a mutual agreement between the parties. Electronic invoicing provably saves costs – have you ever thought about how much time elapses from the moment the accountant issues and prints the invoice to the moment when the customer books and pays this invoice? Read the article where we will focus on two versions of the simple issuing of standard invoice between long-term business partners.

Lenka Tarabová
Adviser
Moore Stephens Consult s.r.o., Prague

Tel: +420 225 708 327

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