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11/09/2019

That special Xtra something for your invoices

Hardly a workday goes by without a company receiving an annoying paper invoice. Even if your invoice receipt workflow is optimised with automatic processing of scanned invoices through OCR software, this still requires manpower. How can you put that effort to better use? With the new XRechnung standard.

What is XRechnung and when is it coming?

XRechnung is an XML-based data model that allows for the continuous electronic exchange of invoices across different technologies. Not only does this significantly increase efficiency within a company – it will soon also be legally binding for the exchange of invoices with public authorities. By introducing this new standard for the receipt and creation of XRechnung, Germany is setting its own legal foundation for the corresponding EU Standard. This Standard has incrementally become legally binding for the public sector. Following introduction in federal authorities and constitutional organs, April 2020 will bring the next implementation deadline for all other authorities, states and municipal governments. In a final step starting in November 2020, all federal government (and, potentially, state government) suppliers will also be required to send invoices via XRechnung.

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