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law creates and grows SME electronic invoicing

The Create and Grow Law comes with obligations for SMEs, such as electronic invoicing

Promoting the creation and growth of companies in Spain is the objective that the Government has proposed through the Create and Grow Law. This is the positive aspect of said Law, but it also comes with an obligation for SMEs: the issuance and receipt of electronic invoices. In this way, they push small and medium-sized companies (which, as a general rule, are the most reluctant to digital transformation, due to the supposed costs) to take the step towards digitization.

What is the Create and Grow Law project

The Create and Grow Law Project is one of the main measures of the Recovery, Transformation and Resilience Plan. As it appears in the bill, the purpose is to reduce the cost and simplify the administrative processes to set up a company. In this way, a limited company can be created from one euro, while currently the minimum amount of 3,000 euros is required. In addition, creation by telematic means is prioritized, which is faster than traditional procedures.

Another measure that can generate more controversy is the obligation of electronic invoicing. The positive part is avoiding delinquencies in commercial operations. However, it can be an extra effort for small and medium-sized companies, which until now had done the invoicing in a traditional way.

Create a company from one euro

This is one of the measures that will give a boost when it comes to creating a company, since only one euro can start an SL.

The text is already in the Senate, waiting for the green light to be given on September 8.

Mandatory electronic invoice

Once the Create and Grow Law is approved on September 8, the receipt and issuance of invoices electronically will be an obligation. However, its application will not be immediate, but deadlines are established depending on the size of the company:

  • For companies that invoice more than eight million euros per year, the term for its implementation will be twelve months.
  • Freelancers, professionals and small and medium-sized companies. The term is extended to three years.

Advantages of electronic invoicing

The main advantages of having an electronic invoice are:

  • Time reduction. With automation, time is reduced, which is an important advantage because that time can be dedicated to other important business tasks that require human intervention.
  • Avoid errors. Automation ensures that the handling of invoices is carried out without errors. In this way we will avoid the possibility that an invoice does not reach the recipient, is not received, with the risks that this entails at the time of filing taxes.
  • Avoid delinquency. By having all invoices connected to public bodies, the risk of non-payment by suppliers is minimized. Everything is registered.
  • Reduce costs. Although a priori it may seem like an extra expense, the truth is that the #ERP for the implementation of electronic invoicing does not have as high a price as one might think. In addition, the reduction of time represents a significant saving in labor costs for the company.

Choose ERP for electronic invoicing. B2Brouter

Regardless of the approval of the Bill, the truth is that the digital transformation of companies is already a fact and sooner or later this automation must be done, not only to comply with the regulations, but as a springboard for business growth. .

There are different ERPs for this implementation. One of the effective solutions is B2Brouter, a cloud solution that automates the sending and receiving of invoices. At Emiral we implement it quickly and easily in those companies that work with Microsoft Dynamics 365

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