Business Franchise Australia

E-invoicing: A Better Way to Do Business

“Australian businesses are owed around $26 billion in unpaid invoices at any given time” – Martin Mane, Assistant Commissioner, Australian Taxation Office.

 

As a franchise owner, I bet you’ve been owed money in unpaid invoices at one point or another. The existing challenges of keeping your business running is time-consuming without the added burden of chasing overdue invoices.

With the many hats you wear in your business, it’s not uncommon to be flat out keeping up to date with your paperwork when you consider that currently over 1.2 billion paper and PDF invoices are being manually processed and exchanged annually in Australia.

Shockingly, Australian businesses are owed around $26 billion in unpaid invoices, at any one time. For small business owners, this can be the difference between keeping afloat or going under.

 

Visit www.ato.gov.au/e-invoicing for more information

Martin Mane is Assistant Commissioner at the ATO leading the ATO’s partnership with the Digital Service Provider community, the ATO’s Digital Strategy and the Australian Government’s e-invoicing initiative.