What is eInvoicing?
eInvoicing is the digital exchange of invoice information directly between buyers’ and suppliers’ financial systems, even if these systems are different.
The transfer of invoice information is made possible by using enabled software or an access point provider who use common international standards (Peppol), allowing different systems to ‘speak’ to each other.
Check out our video to learn how eInvoicing will help Kiwi businesses:
Video Transcript
[Audio: Upbeat music plays]
[Visual: The teal and white branding for eInvoicing is used]
Narrator: If you’re in business today you’ll want to know about eInvoicing.
[Visual: The eInvoicing logo appears]
[Visual: The eInvoicing Icon appears and transition into an animation depicting scanning invoices]
Narrator: It’s a digital offering that brings a smart approach to invoicing so manual handling can become a thing of the past.
Narrator: Let’s set a few things straight: eInvoicing means no paper, no PDFs, no scanning and no email.
[Visual: Animations representing no paper, no PDF’s, no scanning and no email are shown respectively]
Narrator: It’s an exchange of invoice information directly between suppliers and buyers financial systems, even if these systems are different.
[Visual: Animation depicting an eInvoice flowing directly from one business (Carla’s Catering) to multiple businesses (Tihoi Tramping Trust, Larry’s Lawyers Ltd and Paua Bay School) is shown]
Narrator: It improves accuracy and security, reduces processing time, and speeds up payments - great news for cash flow.
[Visual: Animations depicting security, reduced processing time and faster payments are shown respectively]
[Visual: Animation of the eInvoicing icon filling with dollar signs is used to show benefits for cashflow]
Narrator: To get started talk to your accounting or financial software provider about their plans to provide eInvoicing enabled services
[Visual: Animation shows chat bubble transforming into the eInvoicing Logo]
Narrator: Find out more at einvoicing.govt.nz
[Visual: The teal and white branding for eInvoicing is used. The website address 'einvoicing.govt.nz' and 'eInvoicing | Pūtea Tāhiko' show on screen]
Narrator: eInvoicing – the smarter way of invoicing.
How it works
- A supplier’s financial system generates an invoice for the buyer.
- The invoice information passes through the eInvoicing network, where it validates information like NZ Business Number (NZBN).
- The invoice information is passed to the buyer’s financial system where it is reconciled against purchase details and is ready to be paid. (The NZBN is used to ensure the eInvoice is directed to the right buyer.)
NZ Business Number(external link) — NZBN
Access point providers (secure gateways) connect businesses to the eInvoicing network.
Benefits of eInvoicing
With eInvoicing, businesses no longer need to generate paper-based or PDF invoices that have to be printed, posted or emailed, and buyers no longer need to manually enter these into their financial system. It improves accuracy and security, reduces process time and speeds up payments.
By adopting eInvoicing, your business has the opportunity to share in the following benefits:
- Faster payment and improved cash flow
- Reduced admin
- Reduced processing costs
- Direct and secure information
- Universal connection
- Improved financial visibility
- Available to any business
- Improving our economy
How your business benefits
Last updated: 18 May 2022
