Secure, accurate and tax-compliant e-invoices without any extra work - all with Banqup.
An e-invoice is a digital file of a fixed standard that can be "read" by a computer.
EU countries are introducing more and more additional requirements for sending invoices, both to business and to the governament, in order to reduce the share of uncollected VAT.
These changes will not only benefit governments, but also business itself. A common invoice format will reduce costs. This means no more manual input of invoice data and no more documents that appear in automated accounting systems.
A few years ago, the requirement to submit a sales invoice through the E-Centre of Registers was adopted as part of a public procurement procedure. Invoice" platform (which will be replaced by the new SABIS system from 1 July 2024). In doing so, the LR has implemented the EU directive that all public authorities must accept genuine e-invoices from businesses. Lithuanian public sector companies have thus become part of the Peppol network.
From the Banqup platform they have the possibility to send invoices to Peppol/RC "E. Account/SABIS. This way you will not have to re-enter the account data and you will avoid the RC invoicing fee.
From 2028, the European Union will make it mandatory for all Member States to exchange electronic invoices via the Peppol network when trading between EU countries.
An increasing number of countries, including Poland and Latvia, are making the exchange of e-invoices mandatory between businesses and within a country. We can probably expect similar requirements in Lithuania in the near future.
So switching to e-invoicing today would mean smoother changes for business in the future.
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Simplify your invoicing and receipt processes with Banqup.
The Banqup platform aims to simplify invoicing and receiving by eliminating manual work and digitalising processes.
