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Tax compliance

EN Mandatory e-Invoice from 1 January 2024. Choose wisely and enter the e-invoice era with Banqup!

What is EN e-Invoice? Find out more about what RO e-Invoice entails and how it can help you streamline your invoicing processes.

Dashboard of Tax compliance

Mandatory e-invoicing in Romania from 2024

From 2024, according to the Emergency Ordinance No 120/2021 on the administration, functioning and implementation of the national e-invoice system RO e-Invoice and e-invoicing in Romania, all companies will be obliged to issue invoices exclusively via the RO e-Invoice system within a maximum of five days from the date of issue of the invoice.

Specifically, all companies, such as PFA, SRL, SME, II and FI, are obliged to use only e-invoices when transacting with each other. And, in other words, all invoices must be created and managed via RO e-Invoice - a simple and efficient way to issue and receive invoices.

So it's time to get ready! Banqup is here to give you all the information you need and make the transition to e-Invoice as simple and efficient as possible.

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What is EN
e-Invoice? What do you need to do before 1 January 2024?

RO e-Invoice is an electronic system for issuing and transmitting invoices to ANAF, in the form of an XML file, containing specific and coded information and allowing tax authorities to accurately monitor the collection of VAT and other taxes. Thus, through e-Invoice ANAF can access, in real time, information about invoices issued between companies.

Currently, in Romania, 99.8% of electronic invoices sent to ANAF are validated instantly, without errors.

To prepare for the implementation of electronic invoicing, it is essential:

Make sure that you have created a VPS (Virtual Private Space ANAF) account in your company's name as legal representative (both you and your accountant must have VPS accounts - you as the owner and the accountant as the authorised representative).

Register in the e-Invoice Register.

Now that you know what you need to do, opt for Banqup to make it easy to register and manage your e-invoices!

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Benefits of Banqup

Why choose Banqup

By integrating with ANAF Banqup ensures that all tax data and documents generated and submitted are in line with current tax requirements and eliminates the risk of errors, ensuring that invoices issued are valid.

Banqup facilitates the process of sending invoices to ANAF by processing invoices and sending them automatically in the technical XML format required by ANAF, which are then validated in SPV. With Banqup you ensure that your documents are fully compliant with the authorities' tax requirements.

With Banqup, you benefit from a secure archive that automatically stores documents for 10 years, starting from the end of the financial year in which they were issued.

Moving image of the invoicing dashboard in the Banqup app
Choose the right package for your business

Discover the benefits of Banqup subscriptions

Banqup offers 3 packages, each with specific benefits, which can be customised on request. Whether you are a small, growing business or a large corporation, Banqup has a solution to meet all the administrative needs of small and large companies.

Free

Up to 50 documents

RON
0

per month

Up to 50 documents per year
Archive period 12 months
Create invoices with ease
Premium

Start 100% digital administration quickly and easily

RON
117
50
71
94
136
177
256
316
389

per month

Get started quickly and easily with 100% digital management
10 years archive period
Payments are provided with CODA data
Optimum

100% digital administration with integrated payment solution.

RON
265
110
173
212
283
345
478
606
730

per month

Make and receive payments in the shortest possible time
Linked with two bank accounts
Pay multiple bills in one go

Issue your first e-invoice using Banqup

Start here for FREE

Penalties for failure to submit e-invoices in e-Invoice will be applied in two phases, according to the timetable for the transition to the widespread use of this system in B2B relations.

The draft fiscal measures, sent for promulgation, establish the following:

First phase, between 1 April and 30 June 2024: issuers who do not submit e-invoices in e-Invoice within five working days may be fined between 1.000 to 10.000 lei;

Second phase, from 1 July 2024: only e-invoices sealed by the Ministry of Finance, after their transmission to e-Invoice, will be recognised as original documents with fiscal effects. Recipients will be liable to penalties if they accept invoices from issuers in a format other than that established for the RO
e-Invoice system.