Companies and organisations of all shapes and sizes across Australia are adopting eInvoicing as part of the drive to digitise the business community and align to international markets. Whilst it’s not yet mandatory outside of the public sector, the business benefits make it a very attractive proposition.
One of the primary reasons for shelving paper and PDF invoicing in favour of an automated digital exchange of invoice information – is efficiency. As well as reducing processing costs by up to 70% (to less than $10 an invoice in many cases), it can significantly speed up business-to-business payments. Even state and government agencies are now reporting that they pay eligible eInvoices within 5 days! So eInvoicing is proving to be efficient and good for cashflow.
As eInvoices are exchanged securely between suppliers’ and buyers’ software, the risks of human errors, lost, fake or compromised invoices, and email scams and ransomware attacks, are all well-mitigated. You’ll still need to apply all your internal checks and assurance processes before paying your invoices, of course, but eInvoice processing is much faster and more secure than traditional methods.
If you are using Dext Prepare, the good news is that you already have the tool you need to receive eInvoices. Your already established rules in Dext Prepare will seamlessly apply to eInvoicing as well, so you can continue to streamline your bookkeeping and pre-accounting processes.
If you are not a Dext Prepare user, read on to find out how it enables Australian businesses of all shapes and sizes to receive eInvoices…
With eInvoicing offering a more efficient and secure way for businesses to transact, Dext Prepare has your eInvoicing submissions covered. Dext Prepare already makes it easy to submit cost documents directly, via the mobile app, invoice fetch, and email – and now it can receive eInvoices from your suppliers too. Giving you a centralised repository to receive, process and categorise all your invoices (no matter the submission method) before auto-publishing to your accounting software. Dext Prepare also allows you to bulk categorise line items saving you even more time when processing eInvoices. And if you’re using Xero, you can also auto-validate ABNs.
These are just some of the many Dext Prepare features designed to give you confidence that you are in control of your business administration and finances – and that the financial records you are working with are up to date and accurate. No more messy expense management and missing documents. Digitise and store your receipts and bills, all in one place.
Dext’s cloud-based accounting software also keeps your documents and information safe and secure for up to 10 years. Helping you stay on top of all your data records, while remaining compliant with the ATO’s requirements.
Accountant or Bookkeeper?
With Dext Prepare, you and your clients only need to learn how to use a single eInvoicing product regardless of which accounting software you are both using. (Something that sets Dext Prepare apart from your other solution options). This means you both benefit from all the partner-side product features that are native only to Dext Prepare.
Beyond eInvoicing, and transforming the way you process other types of cost documents, Dext’s features fast-track the client jobs that your firm performs day in, day out. So from client onboarding, to GST returns and year end – Dext’s pre-accounting processing platform helps you keep your clients’ accounts and finance information accurate, compliant and secure.
So whether you support clients in the private or public sector, trading on retail terms, e-commerce, on credit or invoice – you can rely on Dext Prepare to turn their bookkeeping data into invaluable insights that create better outcomes for their businesses, and your practice.
Ready to put Dext Prepare to the test? Get your free trial here