Billing software in Europe: Bulgaria

Electronic invoices started in Bulgaria in 2007. In business-to-business (B2B) sector the amount of electronic invoice is 3-5% of total invoice volume. In business-to-consumer (B2C) sector electronic invoices also are sent. So the popularity of billing software is quite big.

There are two big companies, which provides e-billing service in B2C segment. That companies offer their customers receive bills online and make payments with debit or credit cards. The volume of payment processing, for example, by company is 300 000 payments monthly. The market of billing software provides different solutions for e-invoicing.

In 2010 new solutions for creating and sending online invoices appeared in Bulgaria. Almost all of them are aimed at micro business. For using billing software and provided solutions companies don’t need to sign any paper contract. There is a possibility to use billing software free of charge. However, the number of features is limited. It is normal practice for all providers of the billing software. Usually free version of the program is aimed to try it. And for full access to the features you need to pay monthly charge.

As in most European countries electronic invoicing in Bulgaria is regulated by VAT law. This law requires invoice either to signed with electronic signature or be sent using Electronic data interchange (EDI). Also it could be sent in some other way, but it has to ensure authenticity. Most of the billing software nowadays guarantees delivery and safety of your invoices and other data. I think it’s right decision to substitute paper invoice with an electronic one.

20 Apr 2012