eInvoicing can digitally swap invoice information between buyers’ and suppliers’ financial systems — even if the systems are different.
The benefits of eInvoicing
eInvoicing streamlines business processes and improves efficiency by:
- removing the need for paper-based or PDF invoices
- reducing manual entry
- improving accuracy
- speeding up payments.
Exchanging information using eInvoicing
Information is exchanged through the Peppol network using the software business specifications for eInvoicing.
GST return figures
To enable eInvoicing to operate with GST, new laws, which took effect on 1 April 2023, replaced the requirement to use tax invoices with a more general requirement to provide and keep certain records known as taxable supply information. For example, there is no longer the requirement to have the words ‘tax invoice’ included.
To back up the figures in your GST returns, you can now use various records on their own or you can combine them. These records include:
- purchase orders
- ledgers
- bank statements
- supplier agreements contracts.
Taxable supply information for GST
Inland Revenue uses eInvoicing for purchasing
We prefer our suppliers to send us eInvoices instead of sending PDFs via email. Sending us eInvoices helps the processing and payment of your invoice to run more securely and smoothly.
You can read about eInvoicing on the New Zealand Government website.