Working with Financials Account Europese Open Invoicing
| Article Index |
|---|
| Account Europese - Open Invoicing |
| Advantages / Disadvantages |
| Setting Up |
| Unpaid Account Summary |
| Open Invoice Instructions |
| All Pages |
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Account Europese - Open Invoicing
Open invoicing or the European Accounts standard is a process whereby all payments are allocated to specific invoices rather than to a general account. This style of invoicing is more popular in Europe, where it is the base accounting standard. This is where the Account Europese moniker comes from.
Open invoicing is an excellent way of keeping track of payments and allocating income directly to areas of expenditure. However, the time cost and level of complication of the system means that it may not be the best option for veterinary practices that are not required to abide by the standards according to law.
In simple terms: your accountant will appreciate open invoicing, but your staff will probably not.
