In the Era of Fully Digitalized E-Invoices, How Can Electronic Accounting Archives Be Managed Efficiently?

Since July this year, the invoicing scope of fully digitalized e-invoices has covered the whole country, and more and more enterprises have begun to receive fully digitalized e-invoices. But after receiving a fully digitalized e-invoice, how to archive it is also a problem. In what format should fully digitalized e-invoices be archived? PDF, OFD, or XML format?

First, what we need to clarify is that fully digitalized e-invoices, as a type of electronic accounting archives, must strictly comply with electronic accounting archives management regulations in their archiving management. These regulations specify the format requirements for electronic accounting archives, as well as how to archive, preserve and utilize them.

Early stageThe released Electronic Voucher Accounting Data Standard - Fully Digitalized Electronic Invoice (Trial Version) provides the answer. The document clarifies the preservation method for reimbursement, bookkeeping, and archiving of fully digitalized e-invoices:

I. According to Articles 3 and 5 of the Notice, the recipient may use only the XML file of the fully digitalized e-invoice containing a digital signature for reimbursement, accounting, and archiving, and may no longer keep it separately in paper form.

II. If the recipient needs to use paper printouts of the PDF or OFD format files of fully digitalized e-invoices as the basis for reimbursement, bookkeeping, and archiving, it shall, in accordance with Article 4 of the Notice, simultaneously retain the XML format electronic files of the fully digitalized e-invoices containing digital signatures.

That is to say, after an enterprise receives fully digitalized e-invoices, regardless of whether they are printed and archived, it must save the XML format files of the fully digitalized e-invoices with digital signatures. As the scope of fully digitalized e-invoicing covers the whole country and the proportion of fully digitalized e-invoices issued and received by enterprises increases day by day, electronic accounting archives replacing traditional paper archives has become an inevitable trend. Enterprises and business-finance-tax personnel must keep up with the pace of fully digitalized e-invoices and quickly learn and master the management requirements for electronic archives, including receipt, verification, detection, archiving, maintenance, audit, and destruction!

Many enterprises still use manual methods or manual plus a single system to collect, summarize, and manage archives. This approach is inefficient and creates the following pain points during business operations：

For enterprises with a comprehensive digital system layout, how can invoicing system upgrades be organically combined with voucher upgrades, electronic archives upgrades, supply chain collaboration, and digital system upgrades to meet the needs of the full lifecycle management of fully digitalized e-invoice issuance, circulation, storage, invoice receipt, and invoice acceptance? How can digital transaction infrastructure be built well at the source, allowing data to drive business, promote decision-making, and accelerate business growth?

Beijing Kailing Technology Co., Ltd. isOneProvider of enterprise business-finance-tax digitalization solutions. The team has senior talent deeply engaged in the business-finance-tax field, with a deep understanding of the current state and future trends of enterprise business-finance-tax operations and management. Our services cover all aspects of fully digitalized e-invoices, using industry experience to provide customers with suitable system management solutions and information technology services, including: automated business contract management processes (sales/procurement), tax invoice management (input invoice collection, output invoicing), electronic management of financial content (electronic imaging systems, electronic accounting archive systems), financial process automation (AR, AP automated reconciliation), etc.

Provide enterprises with comprehensive data-driven decision support, helping enterprises achieve collaborative upgrades of multiple business processes with minimal cost investment,Inject strong power into enterprise business-finance-tax digitalization upgrades.

Some content is from the internet

Beijing Kailing Technology Co., Ltd.——an enterprise business-finance-tax digitalization solution service provider.

Kailing Technology provides solutions for sales management systems, procurement management systems, output invoicing systems, input invoice collection systems, imaging management systems, financial posting systems, electronic accounting archives and other businesses according to enterprise needs, professionally and efficiently helping enterprises transform and upgrade their business-finance-tax digital management.

If you have any business-finance-tax digital transformation needs, welcome to contact us. Beijing Kailing Technology will serve you wholeheartedly.