Electronic invoicing requirement: Issuing single-copy invoice
In Iceland, you must send a report to the government if an invoice is printed more than once. This report includes legal text, which confirms that the invoice originates from an Enterprise Resource Planning (ERP) solution that complies with legislation.
Using this feature, you can send a legal statement with terms and limitations for using single-copy invoices to the tax authorities. The Printing FastTab on the Sales & Receivables Setup page contains a legal statement (terms and limitations for using single-copy invoices) and also provides an Electronic Invoicing check box, which you can select as a reminder that you need to print a statement for the tax authority. You can then print the IRS Notification report from the Sales & Receivables Setup page. On the Home tab, in the Report group, choose Print Statement.
On the standard posted invoices (invoice and credit memo), legal text is inserted stating that the invoices originate from an ERP solution that complies with Regulation No. 598/1999.
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