eInvoicing Mandates Turn Bills Into B2B Payment Data
By PYMNTS
AI summary of the source article
European eInvoicing mandates aim to standardize how businesses deliver information to approve and collect payments. Under these mandates, accounting software reads defined fields containing invoice amounts, tax details, and transaction references.
Why it matters
The system aims at "establishing a common basis for exchange between suppliers, buyers and their providers."
Key facts
- European eInvoicing mandates seek to standardize how businesses deliver data used to approve and collect payments.
- Invoice amounts, tax details and transaction references enter defined fields that accounting software reads and processes.
- The rollout extends across companies of different sizes.
Source excerpt · PYMNTS
European eInvoicing mandates seek to standardize how businesses deliver the information used to approve and collect payments. Invoice amounts, tax details and transaction references enter defined fields that accounting software reads and processes, establishing a common basis for exchange between suppliers, buyers and their providers. The rollout extends across companies of different sizes and acr…