What is electronic billing?

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The electronic bill is a tax receipt used to verify the purchase of goods or services. There are tools like Zoho CRM, Zoho Invoice and Zoho Books that can help us manage everything related to electronic billing.

The emission or creation method is by electronic means. Like any other fiscal voucher, the electronic bill can be incorporated in the accounting by the issuer as proof of income and by the recipient to deduct taxes.

The electronic bill replaces the traditional paper bill: it contains the same data (name of the organization, fiscal reference, fiscal address, detail of the product or service sold …).

In some countries, the electronic bill must have an electronic signature to identify the issuer and thus guarantee the validity of the voucher to the recipient. According to different laws, these digital vouchers must be stored for the same time as paper vouchers.

In the case of Mexico, the electronic billing solution is required by law. But if digital vouchers are not mandatory in the country, it is necessary to verify with the customer if electronic bills are accepted.

The main difference between the paper bill and the electronic bill resides in the process of generating the voucher. The provider issuing the bill can create it using an administration system, accounting system, an ERP or a specific tool.

Access to these systems is through a computer or a mobile device. There are several electronic bill formats, the most common are PDF, XML and EDI. The transmission of the electronic bill from the supplier to its customer is made by electronic means: email, USB, shared folders…

The electronic bill is already being used by government institutions, private companies, associations in different countries. In order to implement electronic billing, you must have the appropriate application and involve the administration department.

So, if you are thinking of implementing electronic billing or want to improve your electronic billing management, contact us and we will help you.

If you’re not using Zoho for electronic billing yet, the main tools that you need are Zoho CRM, Zoho Books and Zoho Invoice. Sign up for free HERE!