Ensuring the invoicing process is in the fundamental interest of all business operators. Therefore, adapting to the present pandemic circumstances is also crucial in this area of the business. Using paper-based invoices may cause significant delays in payment processing, since difficulties may occur during postal delivery and/or receipt of invoices (e. g. numerous companies have implemented a quarantine on their postal deliveries).
As a consequence, making the transition to electronic invoicing and archiving at this time could be crucial. Due to the liberalization of e-invoicing and archiving rules in the past few years, even invoices in pdf format sent via e-mail may be compliant depending on invoicing processes and corporate governance system settings. Although invoicing and archiving rules should still be considered in order to avoid any potential tax exposure, they should no longer be an obstacle for companies looking to change to electronic invoicing.
In accordance with the information above, we suggest considering the level of effort involved, changes required and the time necessary to switch to electronic invoicing.
KPMG in Hungary has assisted numerous clients with the introduction of effective electronic invoicing and archiving processes.
© 2020 KPMG Tanácsadó Kft., a Hungary limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.