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What is e-invoicing?

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).

e-invoicing solution

Why should you opt for e-invoicing?

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:

  • E-invoicing would help you overcome the data reconciliation challenges and reduce data mismatch errors in GST.
  • You would no longer have to manually feed invoice data in tax return filing as the details would be auto-populated through e-invoicing.
  • It would let you track supplier invoices in real-time.
  • The input tax credit would be available much faster.
  • As e-invoicing provides transparency at the transaction level, the likelihood of audits and surveys by tax authorities would become minimal.
e-invoicing solution
e-invoicing solution

Unsure how to get started and whom to rely on for e-invoicing?

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.

6 reasons why you should opt for Focus Softnet’s e-invoicing system

Minimal Manual Intervention

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:

  • Act instantly, as soon as a new sales invoice is available
  • Act at a fixed time of the day that you could set and define
  • Check for new invoices multiple times at fixed timings throughout the day
  • Act only when you yourself initiate the process (manual mode)

You could use your own MS Excel, CSV, or JSON files

You could use any of the above files for e-invoicing and choose one of the following options:

  • Opt for template Mapping to comprehend your data the way you want us to view it
  • Use ready-to-use MS Excel, CSV, or JSON templates
  • Define a format of your choice for input and output
  • Customize the files in any format for integration

The ever-ready e-invoicing system

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:

  • Local Drive
  • FTP

Track history and take control of your data

Focus Softnet’s e-invoicing system lets you track the history of all invoices and take control of your business data. You could:

  • Track the history of all e-invoices generated in a specific time frame
  • Decide whether you want us to store or delete your data

One solution for multiple business units

You could use our one-stop e-invoicing system for all your business units. The software’s capabilities include:

  • Generation of e-invoices for multiple business units with GSTIN support
  • Options to log in via the desktop version or the web version
  • Print e-invoices from within the application

Error-free e-invoicing with in-built validation tools

Eliminate errors in e-invoices and reduce the chances of rejections.

  • Use in-built validation tools to identify errors in your data
  • Correct invoices before uploading them to the Government Portal
  • You could also connect with our experienced support team if you need assistance

Advanced Dashboard

Stay on top of all updates and business information with our advanced dashboard that is equipped with smart info-panels.

  • Easy-to-understand visuals to make sense of complex data
  • Graphical representation of statistical information
e-invoicing solution

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E-invoicing - FAQs

What are the benefits of e-invoicing?

Following are some of the major benefits of e-invoicing:

  • E-invoicing eliminates the need for reporting in multiple formats for B2B invoices and enables one-time reporting.
  • The e-invoicing data could be used to generate e-way bills.
  • You could also enable real-time tracking of invoices prepared by a supplier.
  • E-invoicing reduces the verification issues related to the tax credit.
  • By using the e-invoicing system, you would have most of the data ready for filing in GSTR-1.
  • The need for data reconciliation between your books and GST returns filed would be minimal.
  • Overall automation and improved handling of the entire tax-filing process.

How does the e-invoicing model work?

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.

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