The Australian Taxation Office (ATO) has issued a release on the benefits of eInvoiving, especially when doing business with the government.
Consider the benefits of eInvoicing
Government agencies, business, and software providers across Australia are getting on board with electronic invoicing (eInvoicing). You might like to consider the benefits of eInvoicing for your organisation, including faster payments from government agencies.
What is eInvoicing?
eInvoicing is the new standardised way for you to send and receive invoices via existing software.
It allows sending of invoices directly to your business partner's accounting system removing the need for manual data entry and making the whole process safer, more accurate and efficient.
It automates invoice processing and helps reduce costs and payment times, among many other benefits.
If you do business with government, federal government agencies are paying eligible eInvoices within five days for contracts up to $1 million where both the supplier and buyer use Peppol eInvoicing.
How does it work?
To use eInvoicing, both you and your business partner need to connect to the eInvoicing (Peppol) network via eInvoicing ready software or a service provider.
Find out how to get started with eInvoicing for businesses