Electronic invoicing and ISO 20022 standards
Introduction
Since 30 June 2020, Switzerland has adopted a new invoicing standard: the QR-invoice. This change is not simply aesthetic. Behind this QR code lies a technical infrastructure based on the ISO 20022 standard, an international standard that structures financial data exchanges.
For businesses and freelancers invoicing in Switzerland, understanding this standard is no longer optional. It guarantees that your invoices will be accepted by all Swiss banks, that your payments will be identified correctly and that your bank reconciliation can be automated.
But in practical terms, what is ISO 20022? How does it impact your daily invoicing? And how can you ensure that your invoices are compliant without becoming a technical expert?
This guide deciphers the essential aspects of ISO 20022 electronic invoicing for Switzerland. You will discover the technical elements to respect, the concrete benefits for your business and the method for creating compliant invoices in just a few clicks. No unnecessary jargon, only what matters for invoicing with peace of mind.
📌 Summary (TL;DR)
The ISO 20022 standard structures Swiss QR-invoice data to guarantee their automated processing by banks. It defines the format of the QR-IBAN, structured references and payment information. Complying with this standard ensures banking compatibility, facilitates automatic reconciliation and protects your data according to international standards. BePaid automatically generates ISO 20022 compliant invoices without complex technical configuration.
📚 Table of contents
- What is the ISO 20022 standard?
- The link between ISO 20022 and the Swiss QR-invoice
- Why ISO 20022 compliance is important for your business
- The technical elements of an ISO 20022 compliant invoice
- Security and data protection according to ISO 20022
- How to create ISO 20022 compliant invoices with BePaid
- Frequently asked questions about ISO 20022 and electronic invoicing
What is the ISO 20022 standard?
The ISO 20022 standard is an international standard that defines how financial institutions exchange electronic data. It establishes a common language for payment messages, transfers and banking transactions.
Adopted progressively in Switzerland from 2017, this standard replaces old formats such as DTA (Data Transfer Agreement) or first-generation pain.001 files. The objective: to harmonise financial communications on a global scale.
In practical terms, ISO 20022 structures payment information in a standardised XML format. This allows banks, businesses and invoicing software to "speak the same language" and automate transaction processing.
For Swiss SMEs, this standard primarily translates into the mandatory use of the QR-invoice since 2020.
The link between ISO 20022 and the Swiss QR-invoice
The Swiss QR-invoice, introduced in July 2020, is entirely based on ISO 20022 standards. The QR code integrated into the invoice contains all payment data structured according to this international standard.
Each element of the QR code (amount, reference, IBAN, creditor information) follows the ISO 20022 format. Result: banks can process payments automatically, without manual entry or risk of typing errors.
The benefits are immediate. Your clients scan the QR code with their e-banking, the data fills in automatically, and the payment arrives with all the information necessary for bank reconciliation.
Since October 2022, the old orange payment slips (BVR) are no longer accepted. The ISO 20022 compliant QR-invoice is now the only valid option in Switzerland.
Why ISO 20022 compliance is important for your business
An invoice that does not comply with the ISO 20022 standard will simply be rejected by Swiss banks. Your client will not be able to pay, which leads to delays, unnecessary reminders and administrative complications.
Conversely, compliance brings concrete benefits. Automated processing accelerates payments and reduces errors. You save time on manual entry and verification of received payments.
Your cash flow is improved. Payments arrive more quickly, with the correct references, which facilitates tracking and reduces disputes with clients. You also project a professional image.
For freelancers and SMEs, compliance is not a technical option: it is an operational necessity to be paid correctly and quickly.
Compatibility with Swiss banks
All Swiss banks have adopted the ISO 20022 standard and have only accepted compliant payments since 2022. UBS, Credit Suisse (now integrated into UBS), PostFinance, Raiffeisen, Banque Cantonale de Genève, Banque Cantonale Vaudoise: all use this standard.
This standardisation guarantees that your invoices will be accepted regardless of your client's banking institution. The QR code can be scanned from any Swiss e-banking or mobile banking application.
If you issue invoices with a non-compliant format, banks will automatically reject payment attempts. Your clients will receive an error message and will have to contact you to obtain a valid invoice.
Universal compatibility with the Swiss banking system is therefore only guaranteed by compliance with the ISO 20022 standard.
Automated bank reconciliation
The ISO 20022 standard transforms bank reconciliation into an automatic process. Each payment received contains a unique structured reference that corresponds exactly to your issued invoice.
Your invoicing software can thus automatically identify which client paid which invoice, without manual intervention. No more need to compare amounts and dates to guess who paid what.
The time saving is considerable, especially if you issue several invoices per month. You eliminate data entry errors and oversights that can occur during manual reconciliation.
With BePaid, this reconciliation is carried out automatically as soon as payment is received. The management of your invoices becomes smooth and you maintain a clear view of your cash flow in real time.
The technical elements of an ISO 20022 compliant invoice
A QR-invoice compliant with the ISO 20022 standard contains several mandatory elements structured in the QR code. First, the IBAN or QR-IBAN of the creditor, which identifies the destination bank account.
Then, the QR reference or creditor reference, which allows unique identification of the invoice and automates reconciliation. The amount and currency (CHF or EUR) must be specified.
The information of the creditor (your business) and the debtor (your client) complete the QR code. Name, address and data structured according to the ISO 20022 format.
All this data is encoded in the QR code according to a precise format. The banking system can thus read it automatically and process the payment without error. Compliant software like BePaid automatically generates this QR code with all the required elements.
The QR-IBAN and structured reference
The QR-IBAN is a special IBAN that starts with "CH" followed by a unique identifier assigned by your bank. It allows the use of a 27-character QR reference to identify each invoice.
The classic IBAN, on the other hand, works with a creditor reference (free text up to 140 characters). Both formats are ISO 20022 compliant, but the QR-IBAN offers superior automation.
The QR reference is purely numerical and automatically generated by your software. It guarantees the uniqueness of each invoice and facilitates automatic matching when payment is received.
If you use a classic IBAN, you can indicate a free reference (invoice number, client name, etc.). Automation will be less advanced, but the payment remains compliant.
Additional structured information
Beyond mandatory data, the QR code can contain additional information structured according to the ISO 20022 standard. For example, invoicing details, payment conditions or internal references.
Certain business sectors include the AVS number for social or medical services. This data facilitates administrative processing on both the payer and creditor side.
The advantage of this structured information: it is automatically readable by computer systems. No need for manual entry or interpretation, which reduces errors and accelerates processing.
Compliant invoicing software manages these fields automatically according to your needs. You do not have to worry about the technical format: the system takes care of everything.
Security and data protection according to ISO 20022
The standardisation provided by ISO 20022 facilitates the implementation of robust security measures. Structured data can be encrypted and transmitted securely between different actors.
The standard also guarantees complete traceability of transactions. Each payment leaves an electronic trace compliant with Swiss and European audit and compliance requirements (GDPR).
Personal data contained in invoices (names, addresses) are protected by banking security standards. Financial institutions apply strict protocols to guarantee confidentiality.
To explore security aspects related to the storage of your accounting data in greater depth, consult our article on online accounting data security. BePaid applies the same protection standards for all your invoices and sensitive information.
How to create ISO 20022 compliant invoices with BePaid
With BePaid, compliance with the ISO 20022 standard is automatic. You have no complex technical configuration to carry out nor obscure parameters to understand.
The process is simple: you create your invoice normally by entering the client, services and amount. BePaid automatically generates a compliant QR code with all the elements required by the standard.
The system automatically checks the presence of all mandatory data before generating the invoice. If an element is missing, you are notified immediately to complete it.
You can preview your invoice before sending or printing it. The QR code is integrated directly into the generated PDF, ready to be scanned by any Swiss e-banking. No additional manipulation is necessary.
Initial configuration
To get started, simply enter your bank details in the BePaid settings. Enter your IBAN or your QR-IBAN (if you have one): the system automatically verifies its validity.
Then add your business information: name, address, identification number (IDE or VAT number if applicable). This data will appear on all your invoices.
Configure your VAT settings according to the rates applicable to your activity (8.1%, 3.8% or 2.6%). BePaid automatically calculates VAT on each invoice according to your settings.
Once this initial configuration is completed (5 minutes maximum), all your generated invoices will automatically comply with the ISO 20022 standard. You will no longer have to worry about technical compliance.
Creating a compliant invoice in 3 steps
Step 1: Select your client from the list (or create a new one) and add the invoiced services or products. Indicate quantities, unit prices and applicable VAT rates.
Step 2: Check the displayed information: total amount, VAT, client details and payment conditions. Modify payment deadlines if necessary or add notes.
Step 3: Click on "Generate invoice". BePaid automatically creates the unique QR reference and the ISO 20022 compliant QR code. Your invoice is ready to be sent by email or printed.
The system manages all the technical complexity in the background. You focus on your business, BePaid takes care of compliance and QR code generation.
Frequently asked questions about ISO 20022 and electronic invoicing
Can I still use the old orange payment slips (BVR)? No. They have been obsolete since October 2022 and are no longer accepted by Swiss banks.
Can my clients pay with their usual e-banking? Yes. All Swiss e-banking and mobile banking applications allow scanning of ISO 20022 compliant QR codes.
What happens if I make an error in the QR code? The bank will automatically reject the payment. Your client will receive an error message and will not be able to make the transfer.
Do I have to pay to issue compliant invoices? No. With BePaid, you can create up to 10 free invoices per month, all compliant with the ISO 20022 standard. No hidden fees or mandatory subscription to get started.
The ISO 20022 standard constitutes the technical foundation of the Swiss QR-invoice and guarantees standardised communication between your invoicing software and banking systems. This compliance is not just a regulatory matter: it enables automatic reconciliation of payments, drastically reduces data entry errors and accelerates your collections.
Structured elements such as the QR-IBAN, standardised reference and formatted additional information ensure that each payment received is automatically associated with the correct invoice. This traceability simplifies your daily management and saves you hours each month.
With BePaid, all your invoices automatically comply with the ISO 20022 standard and Swiss requirements. No complex configuration or technical training: create your compliant QR-invoices in just a few clicks and focus on your business whilst the system manages compliance for you.
