Collecting payments with e-invoices

A handy solution for submitting invoices and collecting regular payments

  • Allows companies to decrease time and money spend on handling invoices, while ensuring that clients get the invoices.
  • Suitable for companies whose clients prefer to receive electronic invoices.
  • Automatic payment of invoices helps the company plan its cash inflow; the number of unpaid invoices decreases.
  • Different reports give a great overview of applications, invoices and payments.

Collecting payments with e-invoices

An e-invoice is an electronic document that complies with the Estonian e-invoice standard, and that is created, transferred and stored in an electronic environment, therefore it is also machine-readable. The client can pay the e-invoice sent to their internet bank conveniently with a pre-filled payment order. For the option of automatic payment of invoices, the client shall enter into an e-invoice standing order agreement, on the basis of which transfers for future e-invoices shall be made by the bank.

  1. The e-invoice sending service includes sending e-invoices from the company to the client and receiving e-invoice applications from clients via the bank channel.
  2. In addition to the bank’s internal e-invoice service, we also offer a domestic e-invoice service, which means that we can forward e-invoices to other channels as well (e.g. other banks, operators).
  3. In order to use the domestic e-invoice service, the company has to submit an application for every additional channel.
Additional services
  • E-invoice design that is based on the company’s symbols; created and paid for by the company.
  • Additional reports on standing order agreements and on payments made on the basis of standing order agreements. The reports can be ordered separately and the company shall pay for them according to the price list.

There are two options for sending an e-invoice to the bank

Send e-invoices to the bank yourself
  • When sending e-invoices to the bank, the business software used by the company should enable the creation of XML format e-invoice files that comply with the standard, or the company has to use the option of compiling XML files online – for example, e-arved.korteriyhistu.net, e-arved.eu, arved.ee.
  • In order to send e-invoices, the company has to have a current account in Swedbank and comply with the technical conditions for e-invoices.
  • A company can use the business client internet bank for sending e-invoices; in the case of extensive volumes, we recommend using the Swedbank Gateway.
Use an operator
  • The company will enter into agreements for sending e-invoices with an operator who mediates the transfer of e-invoices to a bank. The service of mediating e-invoices is offered, for example, by AS Eesti Post (Omniva) and Fitek AS.
  • It is not mandatory to sign an e-invoice sending agreement with the bank when the company uses an operator; however, that agreement gives the company’s clients an opportunity to submit e-invoice applications through the bank channel and the opportunity for the company to order reports concerning standing order agreements.

Signing an agreement

The e-invoice sending agreement can be signed on the internet bank by a member of the board who has the right to sign agreements or who holds sole right of representation according to the Commercial Register.

Application for signing an agreement

An application has to be submitted for signing the agreement, if you wish to add additional conditions into the agreement or hold joint right of representation.

  • The company can send e-invoices only to those clients who have given the relevant permission.
  • E-invoices can also be sent to clients who do not use the internet bank, but still wish to pay with standing orders.
  • An e-invoice must be sent to the bank at least 3 business days prior to the due date specified on the invoice.
  • If a company has specified a period of payment dates in an e-invoice agreement, the e-invoice file must be sent to the bank 2 business days prior to the specified period. In this case the payer who has entered into an e-invoice standing order agreement can rely on the fact that a payment is made on a specified payment date.
  • If an e-invoice is sent to a client whose payment date has passed but the due date specified on the invoice is still ahead, the bank makes an automatic payment on the due date.
  • The bank does not accept e-invoices, the due date of which has expired.
  • The bank cannot cancel e-invoices already sent to the bank by a company. An e-invoice already sent to the bank and the linked e-invoice standing order can be terminated with a credit invoice by the company itself. An e-invoice can be cancelled only in its entirety. If a company sends a partial credit invoice to the bank, the bank shall cancel the entire e-invoice. After the cancellation of the e-invoice, the company is obligated to send a new, correct e-invoice to the bank.
  • When signing an e-invoice sender agreement, the company will also gain access to a report about e-invoice applications sent by clients. A company should check at least once a month, whether there are new clients who want to receive e-invoices for the company’s services. The report provides information about payers who have expressed their wish to receive an e-invoice from the company in the current or previous month in the internet bank or at a bank branch.