The answer is clearn on HMRC website. There you can read that for HMRC you can keep your invoices on paper, digitally or as part of a software program as long as invoices are accurate, complete and readable.
Therefore, there is no reason why not to get your PaperLess Office for Sage and start benefiting from the unique automation features this Sage Approved Software has to offer.
Going PaperLess is the best way for Sage users to store invoices digitally. To achieve this all they need to to is to implement their PaperLess Document Management Software, which offers fully compatibility with Sage 50 and Sage 200.
PaperLess allows Accounts Teams to automatically scan invoices into Sage and to also automatically attach invoices to Sage transactions. This way, with all invoices attached to Sage, companies can ensure that all invoices are are easily accessible.
To retrieve invoices all Sage users need to do is to login to Sage and do a live lookup of the invoices directly from the corresponding Sage transaction lines.
As you can see, for Sage users to go PaperLess is a quite simple and straightforward process. PaperLess stores all invoices in a digital format and makes them easily accessible by attaching invoices to Sage.
Now that HMRC position on to archive invoice is clear, it is important to focus on some of the many advantages of going PaperLess.
Besides automatically attaching invoices to Sage, by going PaperLess companies can also automate invoice processing with Sage. Since PaperLess processes all invoices digitally, this makes it possible for companies to implement invoice processing automation mechanisms like Automatic Invoice Data Capture.
PaperLess Automatic Invoice Data Capture enables the automation of invoice data input processes. This is possible because PaperLess automatically captures all invoice data with PaperLess OCR for Sage so that Sage users no longer have to spend time on manual inputting invoice data into Sage
By working in a fully integrated manner with Sage, PaperLess OCR is the best way to automatically process invoices and post transactions to Sage.
With PaperLess, Accounts Teams can process a much higher volume of invoices, since they do not have to spend their valuable time in the time-consuming process of manually keying in invoice data into Sage.
At the same time, by making invoice data capture into a fully automatic process, PaperLess OCR for Sage also increases data accuracy levels.
PaperLess OCR for Sage captures all data Sage users require to post an invoice to Sage. That can go from the basic invoice data such as amount, date and invoice number to invoice description, department, project and/or cost centres.
The difference is that instead of having someone spending hours on manual invoice data input, Automatic Invoice Capture for Sage extracts all invoice data in just a few seconds.
For companies who need to multi line invoices to Sage in an automatic manner, PaperLess has available Multiline Recognition for Sage. An even more powerful OCR Software for Sage, where PaperLess OCR capture invoice data on a line per line basis.
PaperLess Multiline Recognition is the ultimate invoice data capture technology for Sage. The invoice data capture automation levels achieved are so great that even tax codes and nominal codes can be automatically retrieved from the invoice.
As an example, if your invoice lists the VAT Amount or the VAT rates on the accounting lines, the powerful intelligence module built-in the PaperLess Multiline Recognition Module will automatically identify which VAT code and nominal code to populate.
Multiline Invoice Recognition, also makes it possible for Sage users to automatically capture data from invoice summary lines. This way, Sage users that only need to capture invoice summary lines can do that in a fully automatic manner.
As we have seen, for HMRC companies can go PaperLess and store invoices in a digital format. Thus, you no longer have to print and store each and every single invoice your company receives.
However, going PaperLess is much more than just storing invoices digitally. It is about automating accounts payable processes and increasing productivity levels.
Only by going PaperLess is that companies cope with the increasing number of invoices, while keeping labor costs under control.
Even though digital invoice storage and invoice data capture play an important role on automating invoice processing, going PaperLess offers a lot more than that.
An example of this is the approval of invoices with PaperLess for Sage. With a built-in invoice approval software for Sage, PaperLess enables Sage users to gain control over invoice authorisation processes.
PaperLess turns the process of authorising invoices with Sage into a simple and straightforward process. With PaperLess Invoice Approval, Sage users have real-time overview of the entire invoice workflow process and, if required, can take immediate action to ensure invoices are approved on time.
The is a lot more to PaperLess than to just scan, capture and archive invoices. Book your free online demo to learn more about the best software to automate invoice processing, invoice capture and invoice approval processes with Sage.
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