Commerce Glossary

A comprehensive resource to help you master the language of commerce.
What commerce term are you interested in?
Search Results for ""...

What is Electronic Invoice?

e - lec - tron - ic in - voice
noun
Is also known as an “e-invoice” and represents an invoice that is generated, transferred, and received in an electronic format. This type of invoice can be sent in an XML or EDI (Electronic Data Interchange) and it cannot be modified after sending it. The process consists of exchanging the invoice document between a merchant and a customer in an electronic format. Electronic invoices can reduce manual tasks, errors, and extra costs.

The market trend is towards e-invoice automation, for online as well as offline transactions, in order for merchants to manage orders and invoices more efficiently, eliminate mistakes, and speed up purchasing processes, even for complex B2B deals that require package and pricing configurations. When selling internationally, it is important to localize not only the online purchasing process, but also the invoices that are being sent to customers. Another point worth considering is invoice-related compliance, not only related to sales tax management that needs to be correctly reflected in the invoice – and differentiated for B2C and B2B purchases – but also to regulations requiring the state to receive a copy of each invoice issued, for example in India, Taiwan, or Turkey.

Simplify the eCommerce process. Try 2Checkout.
The most flexible digital commerce platform that can give your business a real boost.