The e-Invoice and Fatorty Middleware

The e-Invoice and Tying it to Fatorty Middleware:

Electronic Billing System

A system issued by the Ministry of Finance and the Egyptian Tax Authority (ETA), which stipulated the cancellation of paper transactions and their replacement with electronic transactions, was launched in November 2020.

How e-Invoice works

Digitalization of the invoicing process as a whole is already in full swing, and electronic invoicing is at the core of the operation. Electronic invoicing, or e-invoice, describes the process of replacing the usual exchange and processing of invoices, credit notes & debit notes to an electronic structure format between buyer and seller through an integrated electronic solution.

The facilities provided by the e-Invoice system

Registration with the E-Invoice System

The registration of the taxpayers with the E-invoice system differs according to the following:

· Taxpayers who do not have ERP System:

They shall register themselves on the E-Invoice Portal. Only companies which do not have an ERP System can be registered with the E-Invoicing Portal. And the website of the Egyptian Tax Authority provides a full guide on how to register. Fatorty can automate its invoicing cycle by acting as a financial app to issue invoices.

· Taxpayers who have ERP System:

They need to Integrate with the E-Invoice System, according to the technical guidelines provided by the Egyptian Tax Authority.

Fatorty Middleware and the e-Invoice System

Fatorty Middleware provided by Advanced Computer Technology (ACT) is a secure link between your company's financial applications(ERPs) and the electronic platform of the Tax authority, which automatically carries your billing data from your company's financial applications. The latter is responsible for processing accounting transactions and managing accounts, in addition to the following functions:

Outlines of Fatorty Middleware