The greater the diversity in the available options, the greater the responsibilities must become from the available and more effective options between them and the products purchased, and a step to stand out, systems and digital information systems led to the transformation of most operations to electronic. One of these processes is electronic billing.
What is electronic billing?
- It is a process that allows the sending of invoices through electronic means, where the invoices are created in digital form by electronic equipment, programs and various systems and sent to the person requesting payment (the payer or the payer) via e-mail or an electronic billing gateway, then processed and stored in one place.
What is an E-Invoicing?
- E-Invoicing are a paperless option for invoice delivery, where invoices can be submitted either on a website or as an electronic document in PDF file format which gives the customer the ability to accurately review their invoices before paying. This method replaces the traditional method that includes sending paper invoices to the customer and paying them by manual means such as sending checks or paying cash, where the seller – whether the seller is a company, organization or group – issues and sends the invoices to be paid online.
What is included in the electronic invoice?
- An E-Invoicing is similar to a traditional paper invoice, and in most cases the electronic invoice is just a digital copy of the paper invoice itself.
- An E-Invoicing usually includes all the basic information related to the payment such as seller and buyer details, quantity, date and payment terms.
- What distinguishes the content of some electronic invoices from the traditional one is that some sellers add an electronic link that allows the buyer to access an electronic payment gateway, which enables him to view the details of the invoice and pay it directly.
What are electronic billing systems?
- They are specialized computer systems that assist in the creation and delivery of electronic invoices.
- An invoice in an electronic invoicing system often goes through the following steps:
- Collect customer billing data in the billing system
- Create customer invoices by billing system
- Pass the invoice to the electronic invoicing system
- Collect invoices and send them to customers online
- The customer receives a notification of a new invoice
Simply e-invoicing benefits, the most important of which are:
- Fast and secure: through the use of electronic invoicing, you can eliminate many manual processes such as printing invoices, postal dispatch and storage, and the adoption of egypt invoicing allows the transfer and management of data and invoices quickly and effectively, and reduces the time it takes for the billing process to reach the payer and wait for his response with you.
- Ease of organizing and managing bills: Relying on traditional methods and using account books is not an easy matter and increases the possibility of damage or loss of some bills, especially once the payment process is completed. But fortunately, once you rely on electronic invoicing you will be able to keep all your invoices in one place and you will have the option to go back and access all the payment and payment data for your trade and search will be faster and easier when needed.
- Easy to object or modify invoices: If your customer needs or needs to change some invoices before making a payment, whether data related to basic data such as the name or address of the invoice recipient, the paying party, the amount supposed to be paid, details of the items and services required, or objecting to an invoice received through Error, you can easily submit a review and amendment request without the need to contact or visit the invoice issuer.
- Limiting the transactions of the hidden economy: The hidden economy is defined as an economy that is not subject to the control or management of the government in which the service is provided, as it includes hiding the outputs and inputs from the eyes of the state and covering up commercial operations, buying and selling operations, and may result in evasion of imposed international entitlements. Whereas, reducing the hidden economy was the primary goal of the Zakat and Income Authority’s implementation of the electronic billing law.
- An environmentally friendly option: by limiting or reducing the use of papers or envelopes to send invoices and checks on a daily basis, as reducing their use and replacing them with electronic processes and keeping them in a digital system instead of using additional papers and files to save and collect invoices contributes greatly to preserving the environment .
Electronic Invoice System
Key features
Grow your business and attract more clients with the best e-invoicing software in Egypt for invoice management and taxation. Get the CorporateStack integrated e-invoicing solution to manage your products and invoices most efficiently.
Gain statistical insights through interactive dashboards and track small details related to fully compliant tax.
Invoice management
Customer and Product Management
Integration with tax authorities