Prepare for KSeF with the right accountant
In the era of digitization of financial and accounting processes, a new obligation for entrepreneurs appears on the horizon – the National e-Invoice System (KSeF). The system introduced by the Ministry of Finance aims to improve the circulation of invoices between business entities and increase the transparency of transactions. Everyone is wondering how KSeF will affect the everyday work of accountants and what it means for entrepreneurs.
For whom will KSeF be mandatory?
From January 1, 2022, KSeF began operating in Poland as a voluntary system, but over time it will become a mandatory tool for all entrepreneurs. This means that every company, regardless of its size and business profile, will have to adapt its accounting processes to the requirements of the new system. Therefore, it is worth starting preparations now so that when KSeF becomes mandatory, we will be able to smoothly transition to the new rules. Ask ASK if KSeF will cover you.
How does KSeF work?
The National e-Invoice System is based on a central database to which electronic invoices are sent. Each invoice issued in the KSeF system receives a unique identifier that ensures its authenticity and integrity. This makes the process of invoice verification by tax offices much faster and more effective.
What are the benefits of using KSeF?
Switching to electronic invoice circulation brings many benefits. Firstly, it reduces the costs associated with printing and archiving paper documents. Secondly, it speeds up the process of exchanging invoices between contractors, which translates into faster settlements and better cash flow in the company. Additionally, the KSeF system increases data security by using advanced cryptographic mechanisms and reduces the risk of manual data entry errors.
Will paper invoices disappear from circulation due to the entry of
KSeF?
Although KSeF is a step towards full digitization of invoice circulation, at this stage paper invoices can still be issued and accepted by companies. However, over time, we can expect that electronic invoicing will become a standard, which may lead to the gradual phasing out of paper invoices.
Will KSeF replace OCR?
The KSeF system does not replace OCR (Optical Character Recognition) technology, which is used to convert paper documents into electronic format. KSeF is a rather complementary solution that allows you to generate, send and receive invoices in electronic form without the need to scan them first.
How to join KSeF?
To start using KSeF, an entrepreneur must register in the system via the Electronic Services Platform (PUE) of the Ministry of Finance. After registration, you receive access to your individual account at KSeF, where you can manage invoices and communicate with contractors. It is worth working with an accountant who knows the system and will help in its effective implementation. Since the beginning of the introduction of the voluntary KSeF, specialists from ASK AUDIT have been training in its use and preparing the companies cooperating with us for the introduction of the obligation to exchange invoices via KSeF. The IT systems we use are prepared for full implementation of KSeF in the companies we serve.
Authorization to use KSeF for an accounting office
Accounting offices must obtain appropriate authorization to be able to service KSeF on behalf of their clients. There are different types of authorizations: 1. to grant, change or withdraw authorizations to use the National e-Invoice System, 2 to issue or access to structured invoices and 3. to issue invoices referred to in Art. 106d section 1 of the VAT Act, which are structured invoices. ASK-Audit helps its clients choose the model of cooperation with an accounting office appropriate for the type and method of running their business and establish appropriate powers of attorney for the office and internal employees.
Issuing invoices in KSeF
KSeF will revolutionize the circulation of invoices in companies. The diagram below shows what the invoice issuing process will look like in KSeF. A very important function will be the very fact of issuing a structured invoice and sending it to the Ministry of Finance system, because then it will trigger a tax obligation. It will also be important to monitor delivery certificates (UPO) and number assignment in KSeF. Therefore, cooperation with a professional accounting office such as ASK AUDIT with experience and properly trained staff will be crucial for every company.
Receiving invoices at KSeF
Issuing an invoice in KSeF by the supplier will involve simultaneously delivering it to the recipient and authorizing him to settle the input VAT. The document flow among recipients is well shown in the diagram below. Therefore, cooperation with a professional accounting office such as ASK AUDIT, with experience and properly trained staff, will allow the entrepreneur to be sure that each invoice received will reach him and will be included in his documentation at the right time and in the correct amount.
Although the obligation to introduce invoicing based on KSeF has been postponed, it will be finally implemented and it is better to prepare for it in advance to eliminate possible risk factors and prepare your company’s team for the upcoming changes. To implement KSeF, it is worth hiring specialists who have appropriate experience and will approach each case individually, because each company is different. Therefore, ask ASK for advice.
