Company Setup Guide

Before creating your first invoice, you need to configure your company information in Factumo. This setup ensures every invoice you create meets Spanish legal requirements and displays your business information correctly.

Accessing Company Settings

Navigate to Settings → Company from the main menu. You'll see several tabs for configuring different aspects of your company profile.

General Settings

The General tab contains your basic company information that appears on every invoice.

Company Name

Enter your legal business name or full legal name (for freelancers):

• Companies: Use your official registered company name exactly as it appears on your CIF/NIF
• Freelancers (autónomos): Use your full legal name (first name and surnames)

Example: "María García López" or "Desarrollo Web S.L."

This name will appear prominently on all invoices, estimates, and credit notes.

Tax Identification Number

Your Spanish tax ID is mandatory on all invoices. Enter one of:

• NIF (Número de Identificación Fiscal) - Spanish nationals
• CIF (Código de Identificación Fiscal) - Spanish companies
• NIE (Número de Identidad de Extranjero) - Foreign residents

Format: Include the letter prefix/suffix (e.g., "B12345678" for companies, "12345678A" for individuals)

Important: Verify this number carefully - incorrect tax IDs can invalidate invoices for tax purposes.

Company Address

Provide your complete business address. All fields are required for Spanish legal compliance:

• Street address (including building number)
• Additional address line (apartment, floor - optional)
• Postal code (5 digits)
• City
• Province/State
• Country (España for Spanish businesses)

Example:

Calle Gran Vía, 28
Piso 3, Puerta B
28013
Madrid
Madrid
España

Contact Information

Add contact details for customer communication:

• Email - Primary business email (appears on invoices)
• Phone - Business phone number (optional but recommended)
• Website - Your business website (optional)

These details help clients reach you with questions about invoices.

Company Information Tab

This tab contains additional company details specific to your business.

Business Registration Details

• Business registry number - Número de registro mercantil (if applicable)
• Tax regime - Your fiscal regime (General, Recargo de equivalencia, etc.)
• Economic activity code (IAE) - Industry classification code

Bank Account Information

Add your bank account details for payment instructions on invoices:

• Bank name
• IBAN - Spanish IBAN format: ES + 22 digits
• SWIFT/BIC - For international payments (optional)

Example IBAN: ES91 2100 0418 4502 0005 1332

This information appears in the payment details section of your invoices, making it easy for clients to pay you.

Invoice Settings Tab

Configure how Factumo generates and numbers your invoices.

Invoice Numbering System

Spanish law requires sequential, chronological invoice numbering without gaps. Factumo supports several compliant formats:

Simple sequential: 1, 2, 3, 4...

Format: {number}
Starting number: 1

Zero-padded: 0001, 0002, 0003...

Format: {number:4}
Starting number: 1

Year-based: 2025-0001, 2025-0002...

Format: {year}-{number:4}
Starting number: 1
Reset: Annually

Custom series: FAC-2025-001, FAC-2025-002...

Format: FAC-{year}-{number:3}
Starting number: 1
Reset: Annually

Important rules:

• Once established, maintain your numbering system consistently
• Never skip numbers or reuse numbers
• Issue dates should align with number sequence (newer numbers = newer dates)
• If you need to correct an invoice, use credit notes instead of deleting

Default VAT Rate

Set your default VAT (IVA) rate that will be pre-selected when creating invoices:

• 21% - General rate (most professional services, goods)
• 10% - Reduced rate (hospitality, transport, some food)
• 4% - Super-reduced rate (basic necessities)
• 0% / Exempt - Certain services (education, medical, financial)

You can always change the VAT rate for specific invoice line items, but this default saves time.

Payment Terms

Configure default payment terms for new invoices:

• Net 15 - Payment due in 15 days
• Net 30 - Payment due in 30 days (most common)
• Net 60 - Payment due in 60 days
• Due on receipt - Immediate payment
• Custom - Define your own terms

Spanish B2B Law: The default legal maximum for B2B transactions is 60 days unless specifically agreed otherwise.

Invoice Footer

Add custom text that appears at the bottom of every invoice:

• Payment instructions
• Late payment terms
• Additional legal notices
• Thank you messages

Example:

Gracias por su confianza. Para cualquier consulta sobre esta factura,
no dude en contactarnos. Los pagos recibidos después de la fecha de
vencimiento pueden estar sujetos a intereses de demora según la
Ley 3/2004.

Estimates Settings Tab

Configure defaults for creating estimates (presupuestos/quotations).

Estimate Numbering

Similar to invoice numbering, estimates need their own sequential system:

Recommended format: PRES-2025-001, PRES-2025-002...

Format: PRES-{year}-{number:3}
Starting number: 1
Reset: Annually

This distinguishes estimates from invoices while maintaining organization.

Estimate Validity Period

Set how long estimates remain valid:

• 15 days - Short-term quotes
• 30 days - Standard validity (most common)
• 60 days - Long-term projects
• 90 days - Extended validity

After this period, you may need to revise pricing or issue a new estimate.

Estimate Footer

Add custom text for estimates:

Example:

Este presupuesto es válido por 30 días desde la fecha de emisión.
Una vez aceptado, se convertirá en factura con las mismas condiciones.
Los precios incluyen IVA al tipo indicado.

Branding Settings Tab

Customize the visual appearance of your invoices and estimates.

Company Logo

Upload your company logo for a professional look:

• Recommended format: PNG with transparent background
• Recommended size: 200-300px width, proportional height
• Max file size: 2MB

Your logo appears in the top-left corner of all documents.

Brand Colors

Customize the color scheme (coming soon):

• Primary color - Used for headers and accents
• Secondary color - Used for highlights

Currently, Factumo uses the default teal theme (#09C3AD).

Document Template

Choose your invoice layout (coming soon):

• Classic - Traditional invoice layout
• Modern - Contemporary design
• Minimal - Clean, simple format

Multi-Currency Settings

If you invoice international clients, enable multi-currency features.

Enable Multi-Currency

Toggle this on to activate multi-currency invoicing:

• Your base currency - EUR (Euro) for Spanish businesses
• Exchange rate source - Automatic daily updates from European Central Bank
• Supported currencies - USD, GBP, SEK, NOK, and 100+ more

See our Multi-Currency Guide for details on invoicing in foreign currencies.

Compliance Settings

Configure compliance-related options for Spanish legal requirements.

Verifactu Preparation

Enable Verifactu preparation mode to start generating QR codes and digital signatures on invoices:

• Verifactu mode - Toggle on when you're ready
• Certificate upload - Upload your digital certificate (when regulation becomes mandatory)
• QR code generation - Automatically adds QR codes to invoices

See our Verifactu Guide for preparing for 2025-2026 requirements.

Data Retention

Factumo automatically stores all invoices, estimates, and credit notes for 7 years as required by Spanish law. No configuration needed - this happens automatically.

Audit Trail

All changes to invoices and company settings are automatically logged in the audit trail. Enable notifications for:

• Invoice changes - Get notified when invoices are modified
• Team actions - Track what team members do
• Payment updates - Monitor payment status changes

Saving Your Settings

After configuring your company information:

1. Review all fields - Ensure accuracy, especially tax ID and address
2. Click "Save Changes" - Changes apply immediately
3. Test with a draft invoice - Create a draft to see how it looks

Important: Some settings (like invoice numbering) cannot be changed retroactively without affecting compliance. Choose carefully before creating your first invoice.

Common Setup Mistakes to Avoid

Incorrect Tax ID Format

Wrong: "12345678" (missing letter) Right: "12345678A" (includes check letter)

Always include prefix/suffix letters in your NIF/CIF/NIE.

Incomplete Address

Wrong: "Calle Mayor, Madrid" Right: "Calle Mayor, 15, 28013, Madrid, Madrid, España"

Spanish invoices require complete addresses including postal code.

Inconsistent Numbering

Don't change your numbering system after creating invoices. If you must change it:

1. Document the change in your records
2. Start a new series with proper justification
3. Maintain old series for reference

Wrong Default VAT Rate

Most professional services use 21% VAT. Using 10% or 4% by default can cause errors if you forget to change it on individual invoices.

Next Steps

Now that your company information is configured:

• Create your first invoice - Put your setup to work
• Add clients - Build your client database
• Understand Spanish requirements - Learn about compliance

Need help with company setup? Contact support at support@factumo.com or check our FAQ section.