eInvoicing through Access Financials: a better way to do business
Sick of wasting time fixing errors and chasing invoices? Wish there was a better, faster, more accurate way to invoice? Enter eInvoicing...
eInvoicing allows you to manage your cash flow better and reduce business admin thanks to electronic invoicing. You can send and receive invoices with suppliers and customers, quickly, safely and easily – even if they don’t use Access software. It means less time chasing payments and manual data entry for you, and a more secure and reliable way for your customers, partners and clients to pay.
3 minutes
Written by Kit Morris
What is eInvoicing?
eInvoicing supports businesses by streamlining your invoicing and freeing up time for you to run and grow your business. eInvoicing is not email or PDF - eInvoices are exchanged directly between buyers’ and suppliers’ software, automatically appearing in software ready to be paid.
This removes manual data entry for receivers and the need for senders to generate email invoices, making the whole process faster, more efficient, accurate and secure.
Learn more about our eInvoicing solutions.
Why is eInvoicing being introduced?
The Australian Government will require all Australian Commonwealth Government agencies to be able to receive Peppol eInvoices by 1 July 2022. That means that if you do business with any government agencies, you will need to be set up to send and receive eInvoices, by then.
Other businesses are already lining up to benefit from this initiative by moving to eInvoicing, and many are offering beneficial trading terms for companies willing to transact in this way.
What are the benefits of eInvoicing?
- Safe, secure and reliable. eInvoices are exchanged securely through a standardised network called Peppol, which enables different accounting systems to connect and exchange data. The network uses the buyer's and supplier's business identifier number, and the information feeds directly into your Access Attaché Accounts, Access Financials or any other accounting software at the click of a button. Request a demo.
- Saves time. eInvoicing can save you time by not having to re-key or scan invoices, fix errors, chase missing information, overdue or lost invoices. Invoice data is accurate and complete as key details are checked before the eInvoice is sent.
- It costs less. According to the Australian Tax Office, it costs businesses around $30 to process a paper invoice and $27 for an emailed PDF invoice. The cost of processing an eInvoice is less than $10. Businesses are also paid faster using eInvoicing, which is great news for your bottom line.
- Faster payment. eInvoicing means fewer errors and lost invoices, avoiding unnecessary delays in getting paid. Federal government agencies are paying eligible eInvoices within 5 days.
- Eliminates human error. With the need for sorting, printing and keying in data removed, eInvoicing cuts out many manual functions that can lead to mistakes and even more time wasted on processing invoices. The technology uses standardised data that is validated before the invoice hits your Attaché software and is processed automatically.
- Connect once, trade with many. Australia has adopted Peppol, an international standard, that allows digital invoices to be exchanged between different software or systems. Once you’re connected to the Peppol network, you can exchange eInvoices with any business on the network that is also connected, regardless of their size or software.
- Track payments. No more lost invoices or wondering about the status of your payments. Track when they’ve been received, approved and processed. Follow your invoices from start to finish.
- Good for the planet! Say goodbye to paper invoices and emails with PDFs that need to be printed and reviewed. Less paper means a smaller environmental footprint, and that’s a feature we can all get behind.
How can I get access to eInvoicing?
Learn more about our eInvoicing solutions.
Also, we have teams of people ensuring our software does what it needs to do around compliance and legislation, so that you can focus on your business. Whether you run a boutique or a burger joint, our Customer Success Team can help you make the most of eInvoicing, and support your business with the freedom to do more.
