Electronic invoicing is a way of sending and receiving documents electronically in a structured data format that is machine-readable. This allows the documents to be processed automatically without the need for manual entry. The benefits of electronic invoicing include reductions in time, cost, and invoicing errors, and faster reporting. Some government authorities already require their suppliers to submit invoices electronically.
In this release you can send Accounting sales invoices and sales credit notes as electronic invoices and receive electronic invoices and create payable invoices and payable credit notes by connecting Foundations to Storecove. Storecove is a third-party electronic invoicing provider that uses the PEPPOL (Pan-European Public Procurement OnLine) network to deliver your electronic invoices.
When you send a document as an electronic invoice, Foundations converts it to an internal structured data format before passing it to Storecove. Storecove then converts it to the format required by the recipient, and delivers it to the recipient via the PEPPOL network.
If the recipient company is not connected to Peppol, the invoice is delivered as an email attachment if the recipient's account includes an email address.
When a vendor sends you an invoice, that document is first transmitted to Storecove in a machine-readable structured data format. Storecove then converts it to the format required by your Accounting system. Your org can then process the document and create a payable invoice automatically.
For a list of the supported Tax Scheme IDs , see Tax Scheme IDs Supported by Electronic Invoicing with Storecove.
How Do I Get Started Using Electronic Invoicing?
To get started using electronic invoicing, your organization must first subscribe to Storecove. When authentication credentials and URL connection details are obtained from Storecove, your administrator must:
- Go to Feature Console.
- Filter for Foundations features only.
- Find the Electronic Invoicing with Storecove feature and click it.
- Complete all the feature steps and additional setup explained in Setting up Electronic Invoicing with Storecove.
When all the setup is complete and electronic invoicing is available in your org, you can send Accounting sales invoice and sales credit note as electronic invoice by clicking its Send E-Invoice button.
You can also receive electronic invoices from Storecove and create payable invoices and payable credit notes.
To understand how an Accounting sales invoice is converted to an electronic invoice, see Sending Sales Invoices as Electronic Invoices.
To understand how an Accounting sales credit note is converted to an electronic invoice, see Sending Sales Credit Notes as Electronic Invoices.
To understand how an Accounting payable invoice is created from an electronic invoice, see Receiving Payable Invoices as Electronic Invoices.
To understand how an Accounting payable credit note is created from an electronic invoice, see Receiving Payable Credit Notes as Electronic Invoices.
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