About "fully digitalized e-invoices": Three key issues enterprise managers need to pay attention to

Whether to download a fully digitalized e-invoice as PDF, OFD, or XML is usually a concern for technology vendors, digital platforms, or a company's internal finance and IT departments. What enterprise managers should pay more attention to is—after the large-scale rollout of fully digitalized e-invoices, what impact will they have on the company's overall business. The following three challenges cannot be ignored:

Q1 InFully Digitalized E-invoiceIn the archiving stage, is only XML file archiving compliant? How can enterprises achieve full-chainFully Digitalized E-invoiceObtain, parse, verify authenticity and signature, archive, store?

Electronic invoices used to look like this:

CurrentFully Digitalized E-invoiceThe XML file looks like this:

The latest "Accounting Data Standards for Electronic Vouchers—Fully Digitalized Electronic Invoices (Trial Version)" stipulates: enterprises receivingFully Digitalized E-invoiceAfterward, no printing is required; XML files can be directly used for reimbursement, accounting, and archiving; if printing is indeed requiredFully Digitalized E-invoiceyes, in addition to keeping the paper invoice, the XML format electronic file must also be kept. According to the Accounting Law of the People's Republic of China, failure to keep accounting materials in accordance with regulations, resulting in damage or loss of accounting materials, may result in administrative penalties. Therefore, forFully Digitalized E-invoice's preservation, enterprises need to treat it with special attention.

So forFully Digitalized E-invoiceFor this new species, how can enterprises solve issues such as acquisition, parsing, authenticity and signature verification, archiving, and storage? How can they ensure the XML file is authentic and the information is correct? How can they ensure that the XML content is consistent with the content of the formatted file during archiving? These are all difficult problems.

Q2 Fully Digitalized E-invoiceComprehensively linking business information, how can enterprises fully connect business and finance data?

Fully Digitalized E-invoice's information dimensions are not limited to the face information of previous paper invoices, but broadly connect multi-party business information, such as contract numbers, the association status between business documents and invoices, bank receipt numbers, and other business information; such as whether payment has been made, bank receipt numbers, and other payment details; such as voucher numbers, accounting periods, voucher summaries, debit and credit directions, and other accounting voucher information.

At the same time, fully digitalizedIssueUnder invoices, audit supervision and tax inspections will also monitor enterprise business more comprehensively. Information sharing and verification channels have been established among ministries and commissions, the People's Bank of China, and other participating institutions. Enterprise personnel mobile phone numbers, enterprise tax payment status, and enterprise registration information can be verified online, placing higher demands on the transparency of enterprise data and information.

Therefore, enterprises not only need to pay attention to how to take on the accounting treatmentFully Digitalized E-invoice, and more attention needs to be paid to how business information can connect with fully digitalized e-invoicesIssueOnce the invoice process is fully connected, enterprises will also face challenges such as "how to achieve structured association of multiple business data" and "how to deeply integrate business and finance data."

Q3: How should enterprises face more intelligent tax audit methods?

Fully digitalized e-invoiceIssueIn the invoice era, big data coverage is more comprehensive and in-depth, tax audits are more intelligent, and tax supervision methods are stricter. So how can enterprises makeFully Digitalized E-invoiceMeet anytime access and audit needs, truly delivering both compliance and convenience?

Fully Digitalized E-invoiceNot just an iteration of invoice form,Fully Digitalized E-invoiceIt can only be read, circulated, and retained through the system. An enterprise's invoice management platform needs to be able to connect broadly with business documents, payment information, voucher information, deduction certification information, etc., which requires enterprises to establish a complete digital system to address the above issues.

This digital system needs to cover the entire business operation process of invoice issuance, receipt, booking, and archiving, not only completing fully digitalizedIssueOnline issuance and receipt of invoices also require fully digitalizedIssueinvoices intelligently match with their business documents, payment records, and bookkeeping vouchers, maintaining fully digitalizedIssuerelevant information in the invoice, ultimately integrating the fully digitalizedIssueInvoices are stored in the electronic accounting archives management system.

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.

Content source: Internet