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Revamping Ireland's VAT Landscape: Overhauling IT Systems and Business Processes for a National e-Invoice System - My Vat Calculator

Revamping Ireland’s VAT Landscape: Overhauling IT Systems and Business Processes for a National e-Invoice System

"Invoicing Revolution Poses Challenges for Accountants and Clients, Says Tax Advisor"

The introduction of the new e-invoicing system, known as KSeF, has brought about a significant change in the way invoices are processed and managed. However, it is not without its challenges. One major obstacle is the inability to send attachments along with invoices, which can be problematic for certain businesses that rely on additional documentation to support their invoices. Additionally, the system lacks the capability to include corrective notes, making it difficult to rectify any errors or discrepancies in the invoices.

Another issue that arises with the implementation of KSeF is the settlement of employee expenses. When invoices are received through the system, it becomes challenging for accountants to process and settle these expenses accurately. This can lead to delays and confusion, causing inconvenience for both the accountants and their clients.

To shed more light on the implications of this invoicing revolution, we spoke with Janina Fornalik, a tax advisor and partner at MDDP. Fornalik provides valuable insights into how KSeF affects accountants and their clients.

Fornalik emphasizes that the inability to send attachments with invoices can be a significant drawback for certain businesses. Some industries, such as construction or engineering, often require supporting documents like contracts, specifications, or drawings to be attached to their invoices. Without this capability, it becomes challenging for these businesses to provide a complete and accurate record of their transactions.

Furthermore, the absence of corrective notes in the system can create complications when errors are discovered in the invoices. In traditional invoicing methods, accountants could include a corrective note to rectify any mistakes. However, with KSeF, this option is not available, making it harder to address and resolve discrepancies.

Regarding employee expenses, Fornalik explains that the lack of a seamless process for settling these expenses can cause frustration for both accountants and employees. In many cases, employees need to submit expense reports along with their invoices, detailing the nature and purpose of the expenses incurred. However, with KSeF, these reports cannot be easily integrated into the system, leading to additional manual work for accountants and potential delays in reimbursement for employees.

Despite these challenges, Fornalik believes that the introduction of KSeF is a step in the right direction towards digitalization and automation. She highlights the benefits of reduced paper usage, improved efficiency, and increased transparency in the invoicing process. However, she also acknowledges the need for further enhancements to address the current limitations of the system.

In conclusion, the implementation of KSeF has brought about a significant change in the invoicing landscape. While it offers several advantages in terms of digitalization and automation, there are also challenges that need to be addressed. The inability to send attachments and include corrective notes, as well as the difficulty in settling employee expenses, are some of the issues that accountants and their clients have to navigate. As the system evolves, it is crucial to find solutions to these challenges to ensure a seamless and efficient invoicing process for all parties involved.

Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE

Barry Caldwell

Barry Caldwell

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