E-invoicing and e-reporting: a guarantee of tax compliance and a source of opportunities
Published on 21 April 2022
In order to meet the future e-invoicing and e-reporting requirements, which will be gradually implemented from 2024, Generix has developed an ecosystem of solutions capable of guaranteeing companies' tax compliance. However, these complementary and interoperable software packages do more than just ensure your compliance. They also promote data centralization, activity control and the automation of certain tasks, thus turning a regulatory constraint into a business opportunity.
An ecosystem of solutions dedicated to the digitalization of invoicing
As stipulated in the Order no. 2021-1190 of September 15, 2021, companies subject to VAT will have to issue, transmit and receive invoices in electronic format, but also communicate their invoicing data to the tax authorities. While the obligation to receive in electronic format concerns all companies as of July 1, 2024, the duty to transmit is gradually being implemented:
- from July 1, 2024 for large companies;
- from January 1, 2025 for medium-sized companies (ETI);
- from January 1, 2026 for SMEs and micro-enterprises.
To meet this dual obligation, companies subject to VAT will have two options:
use the public invoicing portal, equivalent to the current Chorus Pro used for invoices to public service actors; use a dematerialization platform partner of the administration.
The Generix platform is registered with the French government and enables companies to comply with the electronic invoicing obligation as of today. In addition to ensuring their tax compliance, companies have access to an ecosystem of solutions, guaranteeing centralized and compliant management of their business:
- Generix Omnichannel Sales, a solution for animating the purchasing process and securely recording sales and receipts (certified under article 286 of the French Tax Code) from various sales fronts (cash registers, tablets, kiosks, etc.), enabling you to manage your entire business from a single interface;
- Generix Invoice Services, a solution that can be connected to your ERP to digitalize the customer and supplier invoicing process.
An enabling environment for e-reporting
However, the switch to electronic invoicing is not the only obligation that companies will have to face. According to the same timetable, companies subject to VAT will also have to transmit additional transaction data to the tax authorities in electronic form. Called e-reporting, this new obligation mainly concerns three types of information:
- transactions with a non-taxable person, mainly B2C invoices;
- transactions between non-domestic taxable persons (intra-Community trade and exports);
- payment data for the provision of services.
Once again, the Generix ecosystem will enable you to comply with your future e-reporting duty. In addition to guaranteeing companies' compliance (nature of the data to be transmitted, transmission deadline according to the invoice recipient's situation, etc.), Generix can count on its experience in other European countries with a mechanism close to the future French e-reporting.
Turning a constraint into an opportunity
Nevertheless, the obligation of e-invoicing and e-reporting should be seen as an opportunity, not as a simple additional constraint. Just as the implementation of the RGPD has optimized several areas of the business, including customer relationship management, the digitalization of invoicing processes can be a real strength for companies, especially when using the Generix ecosystem.
- Guarantee your compliance: as a partner platform of the administration, Generix guarantees the authenticity of your invoices, the integrity of their content and their readability over time. This way, you don't have to worry about your tax compliance anymore since it is automatically guaranteed by your software publisher.
- Monitor its activity: thanks to the interoperability and interconnection between its different solutions (purchase path animation, invoicing, etc.), the Generix ecosystem makes it easier to control the company's invoicing function. This is particularly true for VAT, insofar as it is possible to check that sales and the associated VAT are in compliance, particularly as regards the rate applicable to each operation.
- Centralize data: the move to e-invoicing and e-reporting is also an opportunity to centralize all sales and related data within a single interface, regardless of their origin (B2B and B2C invoices, VAT tickets, in-store or web sales, intra-Community trade, exports, etc.). The company thus has a better view of its activity, simplifying its strategic decision-making.
- Automate time-consuming tasks: instead of manually integrating data and invoices on the administration's public site, using a partner platform is ideal for automating many aspects of the activity, allowing you to save time, avoid data entry errors and allocate your human resources to higher value-added tasks.
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