XML invoicing, E-Accounting. Who will be the next after Luxembourg and Mexico? If you’re a global company, better get ready!

January 2015 - Over the past years, the importance and the use of electronic payments (e-payment) and electronic invoicing (e-invoicing) have increased constantly.

The ever-increasing use of online payment solutions, the improvement of secured solutions, the constant rise of e-commerce and the extraordinary popularity of mobile devices (smartphones, tablets) have enabled new ways of making electronic transactions and offer great opportunities for innovative solutions. Advantages of electronic payments and transactions are huge: quick processing, reduction of costs, time and paper and easier retrieval of money.

This new way of e-accounting and invoicing was already introduced in Luxembourg and Mexico recently and LLP gained the knowledge and the experience how to manage this new requirement in SunSystems.

LLP were requested to develop a solution for the new accounting requirements in Mexico named “E-Accounting” which involve to be able to keep and organize all the information of the electronic invoicing detail and execute the regulatory reports requested by the local taxes administration.

According to this new regulation every Mexican company should be able to provide an XML file which contains all the information of the invoices received or generated. The XML file is validated on line from different systems with the taxes authority and are part of the Mexican accounting regulations today.

Luis Mariel and LLP Mexico took the challenge and successfully implemented this new development in SunSystems for Don Ramis with the support of LLP Luxembourg’s consultants.

Not only Luxembourg and Mexico but the EU countries will continue soon as e-accounting and e-invoicing are priorities for the European Council as well.

If you’re a global company, better get ready!

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