Law 18/2022 on the Creation and Growth of Companies, also known as the Law Creates and Grows, continues in full development, despite the fact that not much has been said about her in recent months. And it is that its entry into force is expected to occur next year, although it is still difficult to specify the month. In addition, there is an event that worries companies and the self-employed: the general elections.
Since Pedro Sánchez called for the early elections, some professionals have felt somewhat insecure about what could happen with the implementation of the e-invoice. Can this influence their development? According to Diana Salazar, B2B Integration Sales Manager at Generix Group, “this process, in principle, should not be affected by the holding of early general elections”.
And it is that, as he affirms, “The Create and Grow Law is currently in the process of drafting the Technical Regulation project which, before its final approval, will go through the process of a public hearing”. Therefore, everything is developing according to plan and, as he adds, this law can be passed even if the government is in office. So there is no reason to worry.
The important change that companies and the self-employed will experience from 2023
The Law Creates and Grows seeks improve transparency and, for this, among other measures, it advocates the implementation of the e-invoice. A tool that will be mandatory and in which all the transactions that businesses carry out will be reflected in order to “combat delinquency”, confirms Diana Salazar. Although, it should be clarified that, when the law is finally approved, this will develop gradually.
Therefore, those companies that have been working with invoicing on paper or through Excel for years will have a certain amount of time, which will be specified, so that they can carry out the transition to the new model of e-invoice. Can small businesses continue to keep their accounts as before the approval of the Create and Grow Law? The answer is emphatically “no”.
Diana Salazar explains that “The Create and Grow Law obliges all companies and professionals who work for other companies, regardless of size or billingto adopt electronic invoicing”. So, from large businesses to SMEs and small businesses, they will have to prepare to start working with e-invoicing when the Technical Regulations are finished being drafted.
The advantages of electronic invoicing, what does it offer professionals?
Electronic invoicing has not been a randomly chosen measure, but has the goal of improving the administration of companies and help them be more effective thanks to the digitization of invoices, as in this case. Thus, Diana Salazar mentions some advantages such as “cost savings, improved efficiency, integration with the company’s internal management applications”.
It also includes “optimization of the treasury, obtaining information in real time, reduction of management times, automation of administration and accounting”, among other benefits. And it is that, it must not be forgotten that e-invoice is a means to avoid the excessive use of paper, so it will be a way of saving and contributing to the improvement of the environment.
Also, a remarkable aspect of electronic invoicing is that all invoices will be safe. Gone are those situations of tension in which a document of these characteristics could get lost, lost or damaged. Thanks to e-invoice, companies and freelancers will have greater control and will be able to feel more at ease regarding the preservation of these documents.
What is the biggest challenge of electronic invoicing?
Despite all the advantages of the implementation of the e-invoicing, there is a significant challenge to face. And it is that “Currently, the creation of a public platform for electronic invoicing within the framework of the Create and Grow Law is not planned”, as confirmed by Diana Salazar. Therefore, companies will need to go to the private sector and ensure that they comply with the requirements of the law.
To support companies in this transition, The Government maintains the Digital Kit aid active so that those businesses that need it can now implement electronic invoicing. So it might be interesting