Are your invoices ready for 2013?

Do your accountancy, payment and credit control departments know what an invoice should look like in 2013? There are both ‘legislative demands and cultural requirements’ changes required when ‘new cross-border VAT and internet based invoicing directives’ come into effect in 2013, according to the Accountancy Age website. In the article, 'Invoicing the European Way', e-invoicing is a major part of the legislation with paper and electronic invoices to be treated equally. With ‘seven of the top eight markets for UK business coming from the EU’, companies that are on board with comprehensive e-invoicing systems could be at an advantage. In fact they could be at a disadvantage if they are not ready to receive, recognise and process them. Often some companies who rely on paper-based invoicing may have a more ad-hoc approach to storing the electronic version and may need new systems. For full details read the article at http://www.accountancyage.com/aa/opinion/2168719/invoicing-european