The taxpayer or any business owner will continue to generate Invoices on a daily basis. However, it is required to be done as per eInvoice regulations with compulsory parameters. It is important to ensure the Billing and eInvoice software is capable of generating eInvoice within the existing ERP system.

eInvoice is continuously becoming a painless procedure for interoperability of data across GST systems, such as IRP, eWay Bill, or GSTIN, saving ample time and efforts to file returns. It can allow real-time tracking of Invoices, prevent errors and frauds, and automatically produce eInvoice details in GST returns and e-way bills.

TaxPro - Fully Connected and Reliable eInvoice System

From generating eInvoices to keeping track of them via eInvoicing summary, TaxPro will take care of all aspects to deliver Taxpayers a hassle-free experience. It comes with an additional advantage of API for ASPs to integrate eInvoices in Accounting, Billing, and ERP system.

Also, eInvoice Integration is vital for ASPs and ERP developers using eInvoice APIs and Java Library, .NET Core, and .Net DLLs offered by TaxPro GSP. It will eliminate the role of JSON files and visits to IRP as you can generate and perform eInvoice operations within your ERP. It acts as a link between IRP and ERP via eInvoice APIs so that any action taken on the ERP is updated to the IRP without any errors or mistakes.

TaxPro GSP allows businesses to save energy, manpower, time, and cost because you don’t need to make major changes to the existing Billing system. Through its APIs and Free Java Library or .Net DLLS integration with your existing Accounting, ERP, or Billing software, you can easily generate and validate eInvoices, create IRN/QR code and even cancel the eInvoice in bulk.

Further, we will talk about what is eInvoice and how the process works differently than a regular invoicing system. Keep reading!

What is an eInvoice?

According to GST rules, registered people or organizations need to prepare an Invoice by uploading a specific set on Invoice Registration Portal (IRP) and obtaining an Invoice Reference Number (IRN). Because of Standard Schema, eInvoice facilitates the exchange of Invoice documents between a buyer and seller in a structured electronic format.

How eInvoicing System Works Different than Invoicing System?

Registered Individuals or Businesses need to create their GST Invoices on their ERP, Billing, or Accounting system as they are doing at the present. Under eInvoicing, Invoices are generated through the same process but will be reported to IRP with a unique IRN after digitally signing and adding a QR code. For reporting Invoices generated through the existing system to IRP and obtaining IRN/QR code, you can use eInvoice API from TaxPro GSP.

Advantages of eInvoicing for Businesses

eInvoice offers significant benefits to Businesses, such as reporting of Invoices under GST, and auto-generation of eWay bills. It can help facilitate standardization, reduce the chances of disputes among transacting parties, improve payment cycles, and greatly enhance overall business efficiency.

• Reduce reporting of the same Invoice information multiple times

• Seamlessly handle eInvoice details in GST returns and eWay bills

• Enable real-time tracking of Invoices

• Reduction in input credit verification

• Prevent fraud and human errors

• Save ample time and effort to file returns

Conclusion:

You can achieve significant cost and time-saving benefits by removing paper-based and manual processing in Invoicing. For accounts payable in particular, eInvoice System Login can enable seamless processing through reporting of Invoices to IRP, which can be easily done within your existing Accounting, Billing, and ERP system.

About the Author:

TaxPro is India’s leading Taxation Brand and GST Suvidha Provider (GSP) offering a wide range of solutions like TaxPro GSP, which offers free libraries and integration of GSP APIs, eWay Bill, and eInvoice APIs to meet specific requirements, reduce efforts, increase work accuracy and productivity.