Finvoice is an XML standard format for electronic invoices. Finvoice is the contraction of FiNancial & inVOICE. Just as a paper invoice, it contains both invoice details and payment details.
- Invoice section contains all legally mandatory fields.
- Financial section contains all fields required for payment. This is SEPA ready
- Business section: free format for all additional business information.
- Accountant section : explains “Accounting entry”.
Finvoice can be forwarded through the banks just like payment transactions. Finvoice is equally well suitedto invoicing in large, medium-sized and small companies.
Finvoice is the key to success of electronic invoicing in Finland, Norway, Sweden and Denmark. Many other European countries are working on a local Finvoice implementation. Obviously, this standardisation wave will open the door for roaming agreements and interconnection.
Finvoice is based on W3C and UN-Cefact ebXML standards.
The Belgian implementation was developed by Isabel in co-operation with the IAB-IEC. The Business section was extended with the dedicated info required by the Accountant : the “Accounting token”.