2 posts tagged with "accounting"

Issuing a corrective invoice and cancelling an invoice are not the same thing. They are two distinct operations with different requirements, different VAT consequences and different technical treatments in the new electronic invoicing systems. Confusing them can lead to loss of VAT deduction rights, errors in quarterly returns and problems in a tax inspection. This guide explains when each applies, what the regulations require and what happens in the system when either is used.

Mandatory e-invoicing introduces invoice status fields — acceptance, rejection, payment — as a mechanism for traceability and late payment control. They are a valuable tool. But there is a technical and accounting risk that Position Paper No. 3/2026 by Economistas Contables EC-CGE identifies with precision: if those status fields are not managed correctly in the software, they can indirectly push businesses towards recording income and expenses at the moment of actual cash receipt or payment, rather than at the point of accrual. For advisors, accountants and economists, understanding this distinction is essential.