Incoming invoices

An incoming invoice is a document sent by third parties. Third parties could be service providers, vendors, retailers, etc. The function and objective of the invoice document is to instruct the invoice recipient to pay an outstanding bill. Almost anything can be entered in an invoice. However, it is crucial that the invoice itself is not relevant to the origination of the bill. The latter already originated with the signing of a contract or the performance of a service, for example.

 

Media of choice for the incoming invoice

There has been a lot of movement here over the past ten years. Paper invoices and digital incoming invoices now have the same status. Various formats are available for digital invoices. Common formats include the XRechnung, the EDI or the ZUGFeRD format. However, there is a small catch. Keyword “retention periods”. Invoices have to be stored for ten years – at least in Germany. And what once ended up in file requests must now be stored differently. Irrespective of how high the invoice volume is, electronic invoices should therefore be stored in a format and storage type that is considered at a very early stage. Of course, it makes sense to rely on an archive. Here one possesses basically two options. Either the archive is hosted in-house (on-premises) or in the cloud. Of course, it is also possible to combine both, i.e. to choose a hybrid solution.

 

Find out more about the incoming invoice in the more detailed

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