Norway Tax Agencies started to ask for SAF-T reporting

In the past weeks, Norway Tax Agencies have started to ask for SAF-T reporting from businesses. This is a definite sign that Norways’ authorities are stepping up their efforts to combat VAT fraud. What is SAF-T reporting? SAF-T is an XML format that contains...

What is SAF-T and why do accountants need to know about it?

Unless you’ve been living under a rock for the past few years, you’ve probably heard of SAF-T. SAF-T is a data standard that was developed by the OECD (Organisation for Economic Co-operation and Development) in order to improve the efficiency and accuracy...

What is EDI and How Does It Work?

EDI stands for electronic data interchange. It is the process of transferring electronic data between two systems, usually in order to facilitate business transactions. The most common type of EDI is between two businesses, but it can also be between a business and an...

E-Invoicing in SAP: How to Make the Transition

SAP E-Invoicing Transition E-invoicing is the process of issuing, managing, and settling invoices electronically. The transition to e-invoicing can be a daunting one, especially for large organizations that have been using paper-based invoicing for years. However,...

What is e-Invoicing? And How Does It Benefit My Business?

Chances are, if you’re running a business, you’re familiar with invoices. An invoice is a document that businesses send to their customers to request payment for goods or services rendered. In the past, businesses would typically generate invoices...