arvepidamist

Arvepidamine, or invoicing management, is the systematic process of issuing, sending, tracking and recording invoices and managing a company’s receivables. It encompasses creating invoices for goods or services, transmitting them to customers, and recording the transactions in the accounting system. It also includes monitoring due dates, processing received payments, issuing credit notes or refunds, and reconciling receipts with bank statements and the general ledger. Effective arvepidamine supports cash flow, financial accuracy, and regulatory compliance.

A typical invoice contains essential information such as the date and a unique invoice number; seller and buyer names and addresses; a description of goods or services; quantity and unit price; total price excluding VAT; applicable VAT rate and amount; terms of payment and payment instructions; and reference to orders or contracts if relevant. Invoicing can be performed in paper form or electronically, with e-invoicing increasingly common in Estonia.

In Estonia, arvepidamine must comply with national accounting and tax requirements. Invoices should meet statutory data standards and be retained for the period required by law, typically several years. VAT invoices must include correct VAT information, and businesses often use electronic invoicing for efficiency and accuracy, supported by national tax and customs processes. In cross-border trade, invoices may also reflect EU VAT rules and currency considerations.

Best practices include standardizing invoice templates, automating reminder and collection workflows, integrating invoicing with existing accounting or ERP systems, ensuring data accuracy, and maintaining clear internal controls over invoice approval and payment processing.