Electronic invoicing is booming. Various software houses and operators are proposing solutions and many companies are sending or receiving electronic invoices and quit paper completely.
The IAB-IEC (Instituut van de Accountants en de Belastingconsulenten – Institut des Experts-comptables et des Conseils fiscaux) has been monitoring the multiplication of these so-called “solutions” that where mostly driven by technology or marketing and not by sound accounting and business practices. The increased demand for advice from her members has led to the creation of an interdisciplinary workgroup “E-Invoice Bridging”.
The workgroup “E-Invoice Bridging” is a joint initiative from the “IAB-IEC” and “Isabel SA/NV”. The objective is to define best practices in the implementation of electronic invoicing. The workgroup started with the modelling of the flows from invoice sender to receiver, including all stakeholders like software vendors, operators and of course, the accounting firm. The second delivery from the workgroup is the modelling of the exchanged data with a specific attention for the requirements of the accountant.
It is the workgroup’s intention to share the result of his work with the market in order to standardise the implementation of electronic invoicing in line with the business, the accounting best practice and legal requirements.