Corporate News
Ahead of the upcoming implementation of the consumption tax invoice system next month, uSonar Co., Ltd. (Headquarters: Shinjuku-ku, Tokyo; Chairman: Nami Fukutomi; President: Katsuhito Nagatake; hereinafter "the Company"), which maintains one of Japan's largest corporate databases, is pleased to announce the availability of "Invoice Countermeasure Support Special Content" to assist businesses. uSonar remains committed to supporting the streamlining of corporate invoice compliance.
The uSonar invoice countermeasure support special content is recommended for businesses facing the following challenges
• You are planning to assign invoice numbers to your large volume of existing client data.
• You have already assigned invoice numbers to your internal data but intend to handle future data updates manually.
• Your internal data contains many office-based notations, and you lack confidence in the accuracy of your invoice number mapping.
Guide to Special Content on Invoice System Compliance
■ Feature 1: White Paper "Practical Guide to Assigning Invoice Registration Numbers"
We have prepared a white paper (free eBook) that explains everything from the basics to advanced applications of invoice system compliance, titled "Practical Guide to Assigning Invoice Registration Numbers: Data Maintenance You Can Start Today." You can download it here.
Key Contents (from the Table of Contents): What is the Invoice System? / How to Verify Invoice Registration Numbers / 3 Data Maintenance Tasks You Can Start Today / Challenges of Manual Processing / Improvements with uSonar
■ Feature 2: Free Seminar Video "Invoice System Compliance: Addressing Hidden Challenges in Number Assignment"
This is an archived video of a seminar (approx. 20 minutes, held this spring) presented by Takuro Nakamura from our Sales Headquarters Customer Success Group, who has addressed the concerns and challenges of our clients regarding invoices. If you would like to watch it, please apply here.
■ Feature 3: Blog Article Summary - 6 "Understand in 5 Minutes" Invoice Articles
This year, uSonar has been providing key points regarding the invoice system on our blog. We have compiled 3 articles for understanding the basics and 3 articles on specific practical know-how for your reference.
• Understanding Section
A Comprehensive Guide to Supplier Compliance for the Invoice System! Explained Clearly with a Checklist
[Understand in 5 Minutes] A Detailed Explanation of the Purpose, Benefits, and Drawbacks of Introducing the Invoice System
[With Illustrations] Do This Before October! An Easy-to-Understand Explanation of the Invoice System
• Practical Section
[Understand in 5 Minutes] What is the Corporate Number (Registration Number) Required for the Invoice System? Searching and Applying
[Understand in 5 Minutes] I Want to Search for Invoice System Registration Numbers! Explaining What Can Be Verified
[2023 Latest Edition] Assigning "Invoice System Registration Numbers" Using Office Data
※ The list page for all 6 invoice-related blog articles can be found here
Challenges in Invoice Compliance for Businesses and the Strengths of uSonar
Under the invoice system, businesses are required to apply to the National Tax Agency and obtain an invoice number.
In particular, businesses with many clients (suppliers) need to identify the invoice numbers of their clients for consumption tax payment procedures. Failure to do so may prevent the deduction of consumption tax, resulting in an increase in your company's tax payment burden.
Identifying the invoice numbers of clients (suppliers) can be done through searches on the National Tax Agency's public website.
However, since the company names on the public site are those registered by the applicants themselves, automatic mapping can be difficult in cases where the name differs from the notation in your own client data.
Example: The applicant registered as "Nippon Electric Co., Ltd.," but your internal client data lists them as "NEC Corporation."
Unlike corporate numbers, invoice numbers are not necessarily one per company; there are cases where multiple numbers are assigned to a single organization, which can make the process of assigning the correct invoice number time-consuming.
To address these challenges, uSonar maintains LBC, one of Japan's largest corporate databases, covering 8.2 million domestic business establishments. We perform data matching between the corporations contained in LBC and the latest invoice numbers (excluding sole proprietorships). This enables us to support companies struggling with the management of supplier and business partner data.
