eReceipts make financial administration easier

eReceipt automates receipt data transfers, because in an eReceipt the data is automatically combined with the transaction. To make this possible, the information on the receipt must be transmitted in structured format. Otherwise, different types of software and data analytics systems cannot use the information. In this manner, the customer can share information entered on the receipt with its partners, such as entrepreneurs, consumers, the tax administration and financial institutions.

Structured product details and the VAT rate of each product are integrated into the eReceipt. For example, when making purchases with a charge card, there is no longer need for paper receipts or to scan them to the system in which expenses are entered in bookkeeping accounts, checked and forwarded for approval. The eReceipt information allows for automating posting and value-added tax itemisation.

Concrete benefits from the eReceipt

Using the eReceipt reduces manual work in financial administration, leaving time, for example, for making more detailed analyses and forecasts.
Up-to-date financial information can be used to support decision-making.
Receipts are never lost
The legibility of the receipts remains unchanged.
With manual entry of data in many places eliminated, the possibility of errors also decreases.
With the commissioning of eReceipt, the benefits of automation can be gained in the company’s financial administration.
The eReceipt reduces the amount of paper needed in financial administration and helps it operate more responsibly and in an environmentally friendly manner.

The aim is to make the eReceipt part of companies’ daily routines

One purpose of the Real-Time Economy project was to encourage companies to use the eReceipt and make it part of their everyday routines. Companies can use the data contained in eReceipts in their own financial administration systems. The aim in the project was that at least 20% of receipts transmitted between companies in Finland are eReceipts by the end of 2023. By the year 2025, at least 80% of all receipts transmitted between companies should be in structured format.

Real-time economy – Valtiokonttori

The eReceipt Rulebook presents the minimum requirements for transmitting receipt data

The rulebook has been prepared in the eReceipt working groups of the Real-Time Economy project. The purpose of the document is to clarify cases of use and operating methods so that structured receipts can be forwarded in the eReceipt ecosystem.

The eReceipt Rulebook is based on the principles defined in the RTECO project and supports the objectives of the Nordic Smart Government project in transmitting cross-border eReceipts.

The purpose of the rulebook is to describe the safe transmission of eReceipts in a four-corner model based on payment cards and using them as payment instruments. The rulebook describes the basic requirements, responsibilities and obligations of those operating in the eReceipt ecosystem in order to be able to trust the transmission and operation of eReceipts in the market. The rulebook does not restrict the introduction of current and future transmission models or circles of trust.

The rulebook will be updated when new technical implementations, such as a circle of trust, new wishes or payment methods, have been presented and are in production. The State Treasury prepares the amendment proposals and convenes a working group.