Electronic Invoice
Electronic Invoice
What is the electronic invoicing or e-invoicing?
An electronic invoice is an invoice that is issued and received in electronic format and is capable of being transmitted through electronic communications networks, such as the Internet.
There are two types of electronic invoice:
- Electronic invoice with a structured format, for example, the Facturae, which facilitates its automated processing. However, it is not readable by a natural person.
- Electronic invoice in an unstructured format, such as PDF, consisting of an image that can be read by a natural person, but which requires manual intervention or optical recognition (OCR), not always successful, to introduce it into the recipient’s accounting system.
Royal Decree 1619/2012, of November 30th, establishes the rules that invoices must comply with, both on paper and electronically. And, above all, it regulates that they must guarantee legibility, authenticity and integrity.
Who is obliged to issue electronic invoices?
In 2014, the European Union promoted the implementation of electronic invoicing in its member states, establishing a mandatory common format in European B2G relations.
On January 15th, 2015, the obligation to use the Facturae electronic invoice format came into force for any invoice addressed to Public Administrations, sending them through the FACeB2B electronic platform provided by the Ministry of Economic Affairs and Digital Transformation.
The issuance of the rest of the electronic invoices was conditional on the recipient’s consent. Therefore, the electronic invoice is a legal alternative to the traditional paper invoice.
However, this changes with the new Law 18/2022 on the Creation and Growth of Companies, better known as “Ley Crea y Crece” (Create and Grow Law), of September 28th, 2022, which establishes electronic invoicing as the only system that can be used in Spain in commercial transactions between companies and freelancers (B2B). Initiative born with the aim of promoting digitization and fighting late payment.
In addition, on 5 November 2024, ECOFIN gave the green light to the VIDA project, which requires all intra-community transactions to be invoiced in a European structured electronic format from 2030 or from 2028 on a voluntary basis.
Register for the B2B Electronic Invoice Webinar and find answers to your questions directly with our consultants
When does the electronic invoicing obligation come into force in B2B?
More than a year late, the regulation with the technical and information requirements to be included in the B2B electronic invoice is expected to be published before the end of 2024. However, what is already known is that:
- Companies with a turnover of more than €8M will have 1 year to implement it, after the publication of the regulations, then they will probably have to be ready in January 2026.
- The rest of the companies and freelancers will have 2 years to adapt and be prepared in 2027.
What other implications does mandatory B2B electronic invoicing have?
In the absence of the publication of the technical regulation that regulates the new electronic invoicing system, the law contemplates the following obligations in the private sector:
- Obligation to issue, send and receive electronic invoices in their commercial relations with other companies and professionals.
- Both the recipient and the issuer must provide information on the status of the invoices.
- Providers of technological solutions or platforms must guarantee free interconnection and interoperability between them.
- Recipients of electronic invoices may not force their issuer to use a predetermined electronic invoicing solution, platform or service provider.
- Recipients will be able to request free access to electronic invoices for 4 years. Even in the case of having ceased to be clients of the issuing companies, they must allow their access during the 3 years after the end of the contracts.
- The electronic invoice must include information that allows control of the payment date and facilitates the calculation of the average payment period.
- Sanctions for non-compliance can reach up to €10,000
Advantages of issuing in Electronic Invoice format
Download the B2B Electronic Invoice EBOOK with technical and legal specifications established by Create and Grow Law
How can we help you comply with electronic invoicingunder the Create and Grow Law?
In case your ERP does not have the electronic invoicing module incorporated, we will adapt to it. The Electronic Invoicing Module of our PuenteSIF Platform adapts to any ERP (Microsoft Dynamics, Baan, Navision, SAGE X3, Murano, AS400, SAP, Oracle, AX, Movex, M3 Infor, JD Edwards, own or custom ERP…) via a simple API call.
With PuenteSIF you can continue working as before. PuenteSIF will be in charge of exchanging the information required by the Create and Grow Law with the platforms of your clients and suppliers, as well as with the AEAT (Tax Agency).
With the Electronic Invoicing Module of our PuenteSIF Platform you can choose to receive electronic invoices from your suppliers in a friendly format and continue accounting for them manually or you can, by customizing the necessary fields, automate their integration for subsequent automatic accounting.
Likewise, you can also communicate the status of your electronic invoices manually or automatically.
Our Electronic Invoicing Module in accordance with the Create and Grow Law provides clients with the possibility of generating and issuing invoices in structured electronic format and in pdf format, generated by the client’s ERP or by the platform itself, also linking with the VeriFACTU Module if your invoices require to also be Verifiable Invoices.
Features of our Electronic Invoicing Module
This Electronic Invoicing Module in accordance with the Create and Grow Law of our PuenteSIF Platform hosted in the cloud and easily accessible through a link, facilitates the possibility of the platform itself receiving, issuing and sending the invoice to its recipients.
To do this, it has the following functionalities:
- Integrable into any ERP via Restful Call to our API
- Uploading of data via API to generate an electronic invoice, as well as manual upload
- Unlimited issuance of electronic invoices in any of the authorized formats and in PDF format.
- Receipt of electronic invoices in facturae format allowed.
- Inclusion of personalized fields in the facturae file, both for the client and in the one sent by the suppliers.
- Communicate the acceptance and payment statuses of electronic invoices.
- Receive acceptance and payment status communications from recipients.
- Interconnection and interoperability with other platforms or technological solutions guaranteed.
- Invoices are sent both to the AEAT and to the platform or technological solution selected by the client.
- Invoice storage capacity during the legally established periods.
- Download of electronic invoices, both in PDF format and in structured format, without limit or additional cost during the legally required periods.
- Client Portal and Recipient Portal, for consulting the history of electronic invoices, included.
- Integration Option with PuenteSII Platform: It allows the sending of invoices to the SII (Immediate Supply of VAT Information)
- Integration Option with the VeriFACTU Module of the same PuenteSIF Platform: It allows the sending of registration and cancellation records of verifiable invoices to the AEAT, as well as the inclusion of the QR code on the invoice, both in structured format and in PDF.
