The Australian Tax Office (ATO) is running a series of eInvoicing activities and events, starting Friday 15 August 2022.
ATO eInvoicing Week is targeting small businesses to find out how eInvoicing can help them to do better business.
Are you tired of chasing invoices, correcting invoice mistakes and dodging email scams? Is this impacting your business cashflow? If yes, then eInvoicing is for you.
eInvoicing is the new, standardised way to exchange invoice data between a buyer’s and supplier’s accounting systems, irrespective of what software they are using
Most businesses think they are already doing eInvoicing by exchanging emailed pdfs. This is not the case.
To start eInvoicing you need to register in your software. Once you’ve registered, your suppliers’ invoices will automatically show up in your accounting software – ready for you to check, approve and pay.
This means you won’t have to manually rekey the invoice data, which often leads to mistakes and can take a lot of time - time better spent running and growing your business.
When you send eInvoices, they will go directly into your trading partners’ software using their ABN, so the invoice gets to the right recipients. This will save you time chasing lost invoices meaning you’ll get paid on time, if not faster – great for your cashflow.
eInvoicing uses a secure network and a common standard, managed by the ATO. The ATO can’t access or see your invoicing data. Instead, it ensures that service providers adhere to strict security protocols, making the eInvoicing much safer than emails, which can be intercepted by cyber criminals.
To find out how you can start eInvoicing, go to: ato.gov.au/eInvoicing.