Electronic invoices contain all of the information required in a traditional, paper invoice in an encrypted format, including data on the sender and recipient, such as their name and Tax ID number, the date of the invoice, the sender's legal address, the amount of the invoice and the percentage and amount of VAT, among other information. Furthermore, the document includes an electronic signature, which is generated using a digital certificate that has been provided to the sender of the invoice by a Tax Agency_approved certificate company. This combination of factors provides a Electronic Invoice with sufficient reliability so as to indisputably guarantee its integrity and the authenticity of its origin.
Benefits of Implementing Electronic Invoices (e_Invoices or eBills) _ Depending on a company's volume, the savings related to invoice management (receipt, storage, search, signing, returning, payment, shipping, etc.) can fluctuate between 40% and 80%. Some of the reasons for this savings are: Timeliness, both in receiving and sending the information. Savings on paper supplies. Ease of auditing. Increased security and document control. Decreased possibilities for falsification. Easy access to the information. Reduction in the space required for storing archival documents. Quicker and more efficient administrative procedures
Although we know perfectly well what an invoice is, its technical definition is "a document that reflects the delivery of a product or the provision of services, along with the due date and the amount to be paid in consideration." All invoices, regardless of the way in which they are sent (whether on paper or in electronic format), must include a series of mandatory fields. Article 6 of Royal Decree number 1496, Spanish law, which regulates the content of an invoice, establishes these fields as: Invoice number. Delivery date. Sender's and recipient's legal name. Sender's and recipient's Tax ID number. Sender's and recipient's legal address. Transaction description (tax base). Tax rate. Tax amount. Date of service (if different from the delivery date)