Finmatics has extensive functionalities for processing e-invoices. This article summarizes the most frequently asked questions regarding the processing of e-invoices.
What is an e-invoice?
An e-invoice is an invoice that is issued, transmitted, and received in a structured electronic format.
In principle, an e-invoice is a data record containing all invoice information that is sent from the supplier to the customer. How such an e-invoice should look like is defined by a European directive 204/55/EU. E-invoices are either XML files or PDF files with embedded XML data. XML stands for "Extensible Markup Language".
How can e-invoices be transferred to Finmatics?
E-invoices can be transferred to Finmatics via the following ways (out of the box):
- Upload via REST API
- Upload in the web frontend
- E-mail inbox
- Integration through a third-party software
Likewise, e-invoice transfers can be implemented via SFTP upon request. More information about transferring documents and data to Finmatics can be found here:
How can I transfer documents and e-invoices to Finmatics?
How is the data from the XML used for processing?
After the e-invoice has been transmitted, it is sent to the Finmatics E-Invoice-Transformer. There it will be checked regarding which e-invoice format it is and the data is interpreted for further processing. A variety of common e-invoice formats can be interpreted.
Do the algorithms for Data Enrichment, Tax Checks run analogously to PDF and scanned invoices?
Yes! G/L accounts, workflow user prediction, tax code predictions, and USTG, Tax Checks run analogously to the processing of documents transmitted in pdf, tiff, jpeg, or png format. One difference: of course, the automatic page separation (automation feature for scanned documents) is not necessary for e-invoices and therefore disabled.
More information can be found here:
Data Enrichment: Predict G/L Accounts, Tax Codes, Workflow Users, etc.
Does anything change in the export?
No. Data and documents can be retrieved via the existing export channels.
If an e-invoice is an XML, how is that displayed in the frontend?
The e-invoice is converted and displayed as a PDF.
Often an e-invoice is transferred as a ZIP (pdf and XML), how does Finmatics handle this?
ZIP file with exactly two files: XML and PDF
If a ZIP file with exactly two files is transferred (XML and pdf), then it is assumed that it is an invoice document and PDF and XML are merged (PDF is displayed in the Accountant Cockpit, data for processing is extracted from the XML).
ZIP file with more than two files
For each XML file, Finmatics checks if there is a PDF file with the same name. If so, they are merged and processed as one invoice. If not, it will be treated as a separate invoice.
Which formats are supported?
All common European e-invoice formats are supported and the list of formats is continuously updated. Contact our support if your format is not supported (email@example.com).