On the 13th September 2021, as part of the CEF funded project “eInvoicing across borders”, Trojan IT announced the completion of their e-invoicing module in Thrive Accounting Software. This system is fully compliant with the European Directive for e-invoicing for use by all private and public organisations. 

EU Directive on e-invoicing

When the European Commission issued Directive 2014/55/EU on e-invoicing, the goal was to make the procurement process more efficient for public contracting.

CEF Programme

The EU CEF funded project aimed to increase the uptake of e-invoicing by simplifying the adoption process through community based shared services. The three communities involved in this project were the Smart Community of Tubbercurry, Sligo, the Education community of Educampus and a community of business software companies that provide systems to SMEs. These communities were responsible for developing e-invoicing compliant software solutions and providing publicly available training on e-invoicing.

What is e-Invoicing?

e-Invoicing (electronic invoicing) is the exchange of an invoice document between a supplier and a buyer in an integrated electronic format. An electronic invoice should contain data from a supplier in an agreed structured format, following PEPPOL guidelines, that can be automatically entered into the buyer’s accounts system without requiring any data input from the buyer’s accounts team. 

Benefits of Invoicing

Facilitates cross-border trade

PEPPOL aims to achieve a common global standard for all e-Invoicing formats allowing the exchange of invoices with any country in the world, without having to worry about locations or e-invoice formats allowing e-invoices to be sent and received in a secure and time efficient manner from any location.

Automated process

e-Invoicing enables the sending of invoices directly into the accounts payable software system of the recipient. This automated process reduces time-consuming and error-prone tasks like data entry and approvals allowing your staff to be more efficient and focus on higher-value tasks.

Faster payments and better cash flow

e-Invoicing can help achieve significant time and cost savings. By removing the manual accounts payable processes which is heavily depended on paper, invoices can be received, approved and paid in much quicker time.

Secure documents and data exchange

Encrypted file transfer, digital signatures and secure networks all make e-invoicing the safest way to send and receive invoices. There’s also no risk of invoices being lost in the mail or sent to junk email.

Real-time delivery and processing

View live delivery and processing status of documents on cloud-based platforms or directly from your ERP.

Tendering

All Public Bodies across the EU are eInvoice ready and e-invoicing is already a requirement of many EU Tenders.

Thrive Accounting Software and e-Invoicing

Thrive Accounting Software with it’s e-invoicing module is now available to all private and public organisations across Ireland and the UK. Our team have worked hard to build this compliant system and will continue to work in collaboration with organisations to further develop Thrive software for our clients.