Government launches E-receipt system of electronic checks

What changes do Ukrainian businessmen expect in connection with the introduction of electronic checks?

On October 12, 2018, Order No. 773 of the Ministry of Finance of Ukraine came into force, according to which significant changes were made to the registration of cash registers.

A pilot project to switch to modern cash accounting and introduce electronic checks was launched much earlier. During the same period, a resolution was adopted, according to which entrepreneurs are given the opportunity to register cash registers with the tax authorities online for free within one day.

These innovations will allow entrepreneurs to save up to UAH 20,000, as instead of a fiscal registrar or cash register with buttons, they can buy a computer, laptop, tablet or smartphone and install the E-receipt system on them. Once registered, they will send electronic receipts directly to the tax authorities. In today's environment, entrepreneurs are increasingly trying to choose devices that can store information about their company's activities in the cloud.

It is important that with such reporting, paper receipts will be replaced by electronic ones, which means that there is no need to paste them into the Payment Transaction Ledger, which saves time.

The positive aspect of electronic reporting is that there is no need to purchase cash drawers, check printers, and scales. This means that you can save a lot of money on their registration, inspection and certification.

The changes also apply to customers: they will be able to control fiscal receipts through electronic offices.

Such a system attracts small business representatives the most, since, having, for example, a laptop, they can keep records of their company quite effectively.

Anyone can join the pilot project. To do this, entrepreneurs need to download software for Android and Windows and follow the online instructions of the State Fiscal Service.

Electronic fiscalization has been successfully implemented in a number of European countries for several years. It has proved to be effective, as it is designed to automate services, avoid bureaucratic red tape with the preparation of the necessary documentation, improve the reporting system of entrepreneurs and legalize business.

According to some experts, the main problem that entrepreneurs may face in the process of introducing an electronic receipt system is the combination of E-receipt with popular accounting systems for stores, because they are used by numerous businessmen and it is convenient.

Torgsoft always tries to follow modern trends and keep up with the times. Therefore, if E-receipt proves to be effective for our users, we will definitely integrate with this system.