The Electronic Invoice is Coming
Our developers and project managers are currently working on the implementation of electronic invoice formats, with the main focus lying on the two most common formats: XRechnung and ZUGFeRD.
Our developers and project managers are currently working on the implementation of electronic invoice formats, with the main focus lying on the two most common formats: XRechnung and ZUGFeRD. A universal format is not going to be developed here, however, in order to ensure that future invoice formats can be reacted to in a flexible way.
The major advantage of electronic invoices lies in the elimination of invoice-processing by hand. The often manual accounting of invoice data can be completely replaced. Using electronic invoices is much quicker and saves resources. And the purely electronic forwarding and processing of electronic invoice data is also quicker, and less error prone. Billing in the form of electronic invoice formats is now increasingly being seen as a precondition for collaboration.
The XRechnung format has a strong legal component and is essential for the implementation of EU regulations. 2014/55/EU (See: https://eur-lex.europa.eu/legal-content/DE/ALL/?uri=CELEX%3A32014L0055). From 27 November 2020, public contractors will only accept invoices above 1,000 euros if they are in the XRechnung format. Unlike ZUGFeRD, XRechnung is machine-readable format. In the case of ZUGFeRD, a PDF is created and sent along with the XML file. This allows both people and machines to read the contents of the invoice.
Through the embedded XML file, ZUGFeRD also meets the requirements of public contractors. Unfortunately, two German states have already decided not to use “ZUGFeRD”. nexnet will thus be using both formats for its customers, who will be able to decide for themselves which format they need. In order to allow for future requirements, the creation of further electronic invoice formats is already planned in the development process.