Electronic invoicing is a new digital format in which invoices are stored in a structured format. It contains information about the customer in a consistent way, and is designed to be easily imported into an AP system. Companies that use this format can avoid time-consuming processes and ensure greater security. Compared to a physical archive, which requires space and deteriorates with time, electronic invoicing is inexpensive and convenient.
A structured data file is a digital format that can be read by a computer. These files contain standardized formats based on publicly published specifications. They can also contain image files, which are commonly used in scanning solutions.
In the field of electronic invoicing, a structured message is a message that contains structured data. The format of an invoice may be structured or unstructured, and the format may change during exchange. The standard ISO 22022 provides a framework for the financial industries to create e-invoices. It defines how e-invoices can be structured, and the lifecycle of an e-invoice starts when it is issued.
Structured message codes are written in a way that tells the software where elements start and end. In the eInvoicing world, this is essential, as Access Points expect certain message structures to be followed.
FatturaPA XML file
The XML file FatturaPA is used to report electronic invoicing transactions in Italy. It is mandatory for a company in Italy to report all electronic invoices through the Italian Revenue Agency (SDI) before the 15th day of the month following receipt of a transaction document. It is important to note that the file must be signed by the party issuing it, and therefore must include a qualified signature certificate.
To process an electronic invoice through the SDI portal, the supplier must upload a FatturaPA XML file that contains a qualified digital signature. In addition, the file must meet the requirements of each country. The file can be created in various ways: by using Tecnoacquisti web portal, a PEC, or a direct connection to an SdI.
Storecove e-Invoice Cockpit
You’ve probably heard of Storecove e-invoices. These online platforms offer a robust platform for business owners who are looking to automate their invoice processes. They are designed to simplify global e-invoicing by requiring only a single API connection. As a result, over 42 countries around the world use Storecove to automate their invoice processes.
Requirements for storing invoices
When it comes to storing electronic invoices, companies should adhere to a few requirements. These include legibility, which ensures that the documents can be read by humans. In addition, the documents should be archived for at least ten years. This allows businesses to easily access and find historical documents, such as invoices, when necessary.
If an agency is storing electronic invoices, it must ensure that it has a secure method for storing these documents. It should also have backup facilities and firewalls. Additionally, it should have a system to retrieve the documents outside of the SFS.