The Benefits of E-Invoicing
The ATO has been promoting the benefits of e-invoicing – by simplifying and automating the exchange and processing of invoices.
According to the ATO, the benefits for business include cost savings, fewer errors and reduced payment times. In addition:
- a business will save time by not having to re-key or scan invoices, or chase missing information; and
- the e-invoicing network provides a safer and more secure channel than email. E-invoicing is also environmentally friendly.
The ATO recommends that you keep an eye out for digital service providers rolling out e-invoicing solutions in the second half of 2020.