Regulations and ways to store input/output electronic invoices

Below are the Regulations on storing electronic invoices and detailed instructions on how to store them according to Decree 123/2020/ND-CP. Watch now

With the development of information technology today, work store electronic invoices has become much easier and more effective than traditional paper storage. However, businesses still need to clearly understand the requirements and procedures for storing electronic invoices to ensure compliance with legal regulations. In this article, Vindoo will provide complete information about regulations and how to effectively store electronic invoices.

Regulations on how to store and preserve electronic invoices

Storing electronic invoices is an essential part of financial management and compliance with tax laws. Properly storing and preserving electronic invoices will help businesses manage their finances effectively, comply with the law and avoid violations. Learn in detail the regulations on how to store and preserve electronic invoices below:

Before storing electronic invoices

  • According to the provisions of Circular 32/2011/TT-BTC, electronic invoices need to have full legal basis as follows:
    • There is a guarantee of sufficient reliability and integrity of information contained in electronic invoices. Integrity is understood as the information in the electronic invoice is complete and has not been changed (except for changes in form that arise during the exchange, storage or display of the electronic invoice).
    • Information in Electronic invoices can be accessed and used in complete form when necessary.
  • According to Circular 39/2014/TT-BTC guiding regulations on invoices under Decree No. 51/2010/ND-CP, the storage of electronic invoices needs to comply with regulations on sales and supply invoices. service response. Specifically, important regulations that businesses need to pay attention to include types of invoices, content on issued invoices, information on creating and issuing invoices,...
Store electronic invoices

Regulations on how to store and preserve electronic invoices. (Photo source: Internet)

  • Form of invoice: Stored invoices must ensure the same form as the issued form and content as the electronic invoice was created or sent to demonstrate the absolute accuracy of the invoice as well as ensure ensure work quality.
  • Information on the invoice: The electronic invoice needs to have full information about the date, time, and originator when creating and setting up according to regulations.

When storing and preserving electronic invoices: According to Article 11, Decree 119/2018/ND-CP regulates the storage of input electronic invoices need to comply with the following regulations:

  • Electronic invoices must be preserved and stored by electronic means.
  • Organizations and individuals have the right to choose and apply forms of preserving and storing electronic invoices to suit their business characteristics and technological capabilities.
  • Storing electronic invoices must meet at least the following 3 requirements:
    • Security, integrity, completeness and invoice information are absolutely not changed or distorted during the storage period.
    • Electronic invoices must be stored correctly and for a sufficient period according to the provisions of accounting law.
    • Electronic invoices can be printed on paper or searched upon request.
  • Invoices have expired according to regulations. If there is no other regulation from a competent state agency, invoices will be allowed to be destroyed.

How to store input and output electronic invoices

Unlike a paper invoice, which has only one copy, which is a paper copy, an electronic invoice includes two files that are always accompanied by a PDF file (representing the professional content of the invoice, similar to a paper copy, helping users easy to view and print) and XML file (Contains the original data of the invoice, has legal value when not modified). Users should note that XML files have legal value and PDF files are for reference only. Therefore, individuals or businesses need to carefully store both of these files to ensure accuracy and compliance with regulations

Store electronic invoices

Detailed steps for storing input electronic invoices. (Photo source: Internet)

In addition, in case of data loss due to computer problems, users should back up both XML and PDF files to external storage devices such as USB, portable hard drive or cloud storage service.

For input electronic invoices

Below are detailed steps for storing input electronic invoices to help users manage storage in the easiest way.

Step 1: Create a separate Email

  • Set up a separate email to receive and store electronic invoices.
  • Notify all suppliers of this email so they can send invoices to the correct address.
  • Set this email to be forwarded to management's email for tracking.

Step 2: Create a Google Drive folder

  • Create a separate Google Drive folder for storing electronic invoices corresponding to archived emails

Step 3: Download and store invoices

  • When receiving an email with an invoice, the accountant downloads and stores the invoice file in a folder created on the computer.
  • Rename files according to uniform rules including tax code, supplier name, invoice number for easy lookup.

Step 4: Check and update information

  • Open the invoice to briefly check the information.
  • Update necessary information such as supplier tax code and invoice lookup code into Excel file.
  • Insert the link in the corresponding invoice file to facilitate future lookup.

Step 5: Synchronize data

  • Sync computer folders containing invoices to Google Drive for backup and safe storage.

For output electronic invoices

Store and manage output electronic invoices effectively with the following steps:

Step 1: LStore invoices and update information

  • Create a folder on your computer to store electronic invoices.
  • Download invoices from email and store them in the created folder.
  • Update important information from electronic invoices into Excel files such as: Customer name, Tax code, Amount before/after VAT and Invoice lookup code

Step 2: Synchronize data:

  • Back up the Excel file containing electronic invoice information to Google Drive to ensure data safety.
  • Synchronize the electronic invoice storage folder on your computer with Google Drive to access and manage data anytime, anywhere.

Store electronic invoices with software Vindoo Invoicing

Method of storing electronic invoices with software Vindoo Invoicing brings many outstanding benefits, helping users optimize management efficiency and store invoices.

  • Vindoo Invoicing comprehensively automates invoice management, helping users reduce work completion time by up to 80% compared to manual methods. 
  • Instead of storing invoices scattered across many different devices and software, the system allows storing and synchronizing all invoices on a single platform.
Store electronic invoices

Benefits of using electronic invoice storage software Vindoo Invoicing. (Photo source: Internet)

  • Optimize accounting work with invoice management software. Automatically record, filter and search intelligently to help users closely control invoices and limit errors.
  • Manage the invoicing process
    • With just one click, a sales or purchase invoice will be automatically generated from the corresponding order. Can limit errors caused by manual data entry and ensure the accuracy of invoice information.
    • The system provides smart filtering and search tools to help users quickly search for specific invoices based on customer name, tax code, invoice number,...
    • Allows setting up rules to automatically notify relevant individuals/customers when invoices are recorded. 
    • Tracking increases and decreases in revenue recorded on invoices is the basis to help Managers calculate and predict trends in the following weeks and months.

Hope this article of Viindoo has provided readers with useful information about regulations and methods store electronic invoices input/output. In addition, businesses also need to pay attention to regularly updating the latest regulations on electronic invoice storage to ensure legal compliance.

Regulations and ways to store input/output electronic invoices
SEODO June 17, 2024