Avoid accounting divergences

In Portugal, purchases are not integrated in the SAF-T file, contrary to what happens in other countries. Companies can only find information on purchases, in a complete and automatic way, through the E-Fatura submitted every month by their suppliers, on the TA (Tax Authority) Portal.


As a result, each company, through its portal, can consult the supplier invoices that were reported by it through the SAF-T Invoicing. From there, the documents are automatically exported from the TA portal and integrated into col.bi, where a set of rules are run (such as data quality, to check if the information is complete), thus obtaining a complete view of all the company's purchases and more efficient control of purchases.

This information is also browsable by suppliers and their details, and it is also possible to navigate the company's own information, such as the issuing of invoices, i.e. SAF-T invoicing and E-Fatura invoicing. On col.bi, the way of navigating the platform is very agile, versatile and detailed, and is now extended to purchases and acquisitions.

With col.bi the companies can:

• Reduce the time spent on checking and controlling acquisitions;

• Avoid inconsistencies between the accounting information on purchases and the information that is on the TA Portal;

• Improve control over certain purchases or acquisitions that, for example, should not have been made with the company's tax number, are not part of its needs, nor have been authorized for that.

Col.bi E-Invoice therefore allows the company to control these invoices and to match their records with what is reported to the TA.

Col.bi E-Invoice can also help in certain emergencies, such as with the VAT declaration. One of the deficiencies of SAF-T in Portugal is not having Purchases (as mentioned above). If the Purchases were available, the Deductible VAT would also be available, as is the Output VAT in the SAF-T for invoicing.

Through Col.bi E-Invoice the information from both VATs (Purchases and Sales) will now be available in a consolidated form, being able to access what is reported by suppliers in terms of VAT declaration in its entirety and verify that the values converge with the aggregate amount of Deductible VAT placed on the VAT Periodic Declaration or other Tax Returns.

There are a number of checks that can be done to ensure that the information is congruent and that there are, in fact, no discrepancies.