Often confused, e-invoicing and real-time reporting mechanisms are, nonetheless, distinct and entailing specific services. While e-invoicing refers to the exchange of an invoice in a structured, computer readable data format, allowing its automatic and electronic processing;[1] real-time reporting refers to the reporting of relevant invoice data to the tax authority.[2] Although both mechanisms can be implemented hand-in-hand, they can also be successful on their own.
In the following, we will explain the difference between real-time reporting and e-invoicing and how they relate to each other. Furthermore, we explain how summitto’s real-time reporting system can be integrated with open standards such as the EN16931 e-invoicing standard and the Peppol network.
Source: summitto.com
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