E-invoicing is an invoicing system under the GST regime through which you could authenticate B2B invoices electronically by GSTN and use them wherever required over the common GST portal. The Invoice Registration Portal (IRP) would issue an identification number against each invoice that could be used across the GST Network (GSTN).
The GST Council in India has made e-invoicing mandatory for businesses that have a turnover of more than Rs.20 Crores. Regardless of this, it would be a game-changer for your business for the following reasons:
The new system would require careful navigation that only a reliable software from a trusted vendor could provide.
Focus Softnet was one of the earliest ERP and accounting software providers who helped businesses navigate the complex terrain of the GST regime when it was introduced in 2017. Our accounting and financial software has been widely used by enterprises and SMEs to simplify the entire GST computation and filing process.
Seamlessly integrate it with our standalone e-invoicing system to prevent duplication and manual processing errors. It would allow you to automate the invoicing process and take control over every invoice issued.
Our e-invoicing solution is cost effective and ready to integrate with your SAP ERP or other existing ERPs. With the SAP-ready e-invoicing system, you could define the formats you want to send or receive the invoices or alter them when necessary. This makes managing invoice formats for customers and suppliers much easier and hassle-free. You no more need to manually create invoices or worry about processing errors; e-invoicing integration would save time and increase the efficiency of the process.
Our e-invoicing system is completely automated and lets you decide when and how to act. You could take action at any of the following times or scenarios:
You could use any of the above files for e-invoicing and choose one of the following options:
You could define the location of the input files so that even if you forget or miss registering an invoice, the system would obtain them from one of the following sources:
Focus Softnet’s e-invoicing system lets you track the history of all invoices and take control of your business data. You could:
You could use our one-stop e-invoicing system for all your business units. The software’s capabilities include:
Eliminate errors in e-invoices and reduce the chances of rejections.
Stay on top of all updates and business information with our advanced dashboard that is equipped with smart info-panels.
Following are some of the major benefits of e-invoicing:
The basic process of generating invoices through ERP systems is the same under the e-invoicing model. However, there would be a defined standard, schema, and format for e-invoicing to ensure uniformity so that machines and computer systems could easily read these invoices. The taxpayer would be responsible for generating the invoice.
An e-invoice has to be reported to the Invoice Registration Portal (IRP) at the time of its generation. The IRP would generate a unique Invoice Reference Number (IRN) and add a digital signature to the invoice. It would then return the same to the taxpayer. The IRP would also send the signed e-invoice to the seller on their registered email ID.