Introduction to E-invoicing on Xero
What is “E-invoicing”?
Electronic invoicing (E-invoicing) is the ability to send an invoice digitally between the accounting system of business suppliers and buyers.
What are the main benefits of E-invoicing to my business?
- No lost invoices: Invoices are received directly into your customer’s accounting system.
- Less manual data entry and risk of errors: Invoices you receive on the e-invoicing network appear automatically as a draft bill in Xero for approval.
- Get paid faster: E-invoicing can speed up your invoicing process – helping you get paid more quickly.
How does E-invoicing work?
You can connect your Xero organisation to an e-invoicing app: Invoici by Storecove to join the Pan European Public Procurement Online (PEPPOL) e-invoicing network and receive a unique PEPPOL ID.
- Give your PEPPOL ID to suppliers who are on the network so they can send invoices directly to your Xero organisation.
- If a customer is on the PEPPOL network, send an invoice to their PEPPOL ID to deliver it directly to their accounting software.
The E-invoicing Registration Grant provides businesses with a one-time payment of S$200 (terms and conditions apply) upon first registration to the E-invoicing network. After you’ve successfully registered, the payment of S$200 will be made by IMDA to your PayNow Corporate account (so make sure your business is registered for PayNow Corporate).
*Please note the above offer is limited to the first 50,000 businesses only.