In this article we explain the benefits and challenges of each system.
Do you know the differences between Verifactu and electronic invoicing? Both are digital tools for managing your invoices, but they have different characteristics and objectives.
The Verifactu Regulation was approved by Royal Decree 1007/2023 and requires the modernization of the billing systems of entrepreneurs and professionals.
This regulation will establish a new electronic billing system that will provide significant benefits to companies, self-employed workers and the Tax Agency .
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What is Verifactu?
Main features of electronic invoicing and Verifactu
Key differences between Verifactu and electronic invoicing
Why should companies know the differences between Verifactu and electronic invoicing?
What makes Verifactu unique?
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What is Verifactu?
Verifactu is an electronic invoicing system that requires companies and self-employed workers to issue and register their invoices with a specific format and structure .
In addition, certain computer security elements (chained hashes and electronic signature) are added to the invoice to ensure that said record cannot be modified, after it has been produced, without leaving the corresponding record of said modification.
Billing records produced by computer systems must comply with the following legal requirements :
Integrity.
Conservation.
Accessibility.
Readability.
Traceability.
Unalterability.
Verifactu emerges as an extension of traditional electronic invoicing , but focusing on transparency and the prevention of tax fraud. Unlike conventional electronic invoicing, Verifactu not only stores and records invoices, but also automatically validates them with the Tax Administration , thus guaranteeing greater control over the invoicing process .
Knowing the differences between Verifactu christmas island b2b leads and traditional electronic invoicing is essential to avoid errors and optimize your invoicing processes.
Main features of electronic invoicing and Verifactu
Traditional electronic invoicing involves the creation, issuance, sending and storage of invoices in digital format, allowing for more efficient and secure management of commercial transactions.
While issuing invoices in electronic format has revolutionised the way companies manage their invoices, Verifactu goes further. It introduces new requirements and functionalities for greater fiscal control.
