Factur-X: a new electronic invoicing standard that will be mandatory from 2024
Factur-X is the new European standard for electronic invoicing (EN 16931). It simplifies exchanges and the automatic processing of invoices by providing both a readable document in PDF format and structured data in XML format. It will enable automated exchanges for B2B and B2G transactions.
From 2024 all business in France and Germany will be required to emit invoices complying with this standard (Reform 2024-2026).
Factur-X makes it possible to structure the key information of an invoice, such as the amount to be paid, the references of the products or services provided, the contact details of the supplier and the customer, etc.
Businesses can process electronic invoices directly by their IT systems, reducing errors and costs associated with manual data entry.
In addition, Factur-X also makes it possible to embed additional documents, such as purchase orders or contracts, directly in the invoice. This simplifies the management of invoice-related documents and facilitates their interpretation and validation.
For more details on the standard and its rollout, consult the National Forum for Electronic Invoicing and Public Procurement.