E-invoicing: How Can it Protect You?

• DJ Grigg
• 02/01/2022

E-invoicing: How Can it Protect You?

Is your business using e-invoicing? It’s a fantastic way to protect yourself and your customers from invoice scams. It can also help you get paid faster. E-invoices replace emailed PDF invoices or links to online invoices. Instead, e-invoices are delivered securely to your clients, even across different accounting systems.

Preventing invoice fraud

Invoice scams are surprisingly common and can be quite sophisticated. For example, everything looks exactly right with intercepted invoices, but scammers alter the bank account number. When it happens to you, your client thinks they’ve paid you, but the money has gone to a scammer. Notifications from suppliers that their bank account number has changed – but it’s not actually your supplier, it’s fake. In the event of an invoice scam, it can be very difficult to get your money back.

E-invoicing prevents these types of scams because the invoices travel directly from one accounting or payment system to another. There’s no opportunity for scammers to intercept the invoices by directly connecting suppliers with their clients.

Start sending and receiving e-invoices

We can help you set up your accounting software to send and receive e-invoices immediately. You can learn how to set up e-invoicing in Xero at this link. Also, you can get in touch with us and we can help. You can also use e-invoicing if you don’t use an online accounting platform. One of the free e-invoicing enabled software providers can help with this.

It only takes a little bit of time to learn how to use e-invoicing, and once you have the hang of it, it will protect you from invoice fraud – so it’s well worth the effort!