E-Invoice, alternatively referred to as ‘Electronic invoicing,’ is a process by which all B2B invoices are electronically generated, uploaded, and authorized by the specified site.
E-invoicing became mandatory on October 1st, 2020, for businesses with 500 crores or more revenue. And from January 1st, 2021, e-invoicing became mandatory for enterprises with more than 100 crores annual revenue.
Today, electronic invoicing is mandatory for all businesses that are GST registered and issue B2B invoices in a phased way as specified by the government.
This implies that all businesses that fall within the e-invoicing umbrella are required to issue electronic invoices for all B2B goods.
Of course, e-invoicing has become an integral part of Indian businesses. Hence, having the Best e-invoicing software in India is crucial. An e-invoice software in India will help businesses in myriads of ways to streamline their processes.
How does the e-invoicing system work?
Here is how an e-invoicing system works:
- The supplier generates the e-invoice JSON in the stipulated format, either via e-invoicing software or other means.
- Then, the JSON is uploaded to IRP (Invoice Register Portal).
- IRP verifies the uploaded JSON and generates the IRN and QR code.
- The supplier then receives the digitally signed e-invoice JSON file along with a QR code.
- The supplier then prints a QR code encoded with the IRN on the invoice.
- Details of the electronic invoice are then transmitted to the e-way bill system (pre-fill e-way bill) and the GST system (GSTR-1 and GSTR-2A)
- The purchaser has real-time visibility in GSTR-2A for the purpose of validating the ITC.
- However, the question here arises which is the best e-invoicing software for Indian Businesses.
The market is already swamped with numerous e-invoice software, with all of them claiming to be the best. Choosing the right software becomes a challenge. That’s the reason we decided to talk about the best e-invoicing software in India. So, scroll down to read the entire post…
BUSY – Best E-invoice Software
When it comes to robust and reliable e-invoicing software in India, BUSY e-invoicing software tops the list.
It allows you to generate an e-invoice during the voucher input process for a transaction or in bulk for many invoices in a single click.
Once the IRP authenticates them, BUSY receives the IRN directly from the IRP and converts it to a QR code along with other invoice information, automatically updating your invoices. The QR code can then be printed directly on your invoice.
Additionally, IRN can be printed if desired. Due to the total interoperability of e-invoice data with the GST system, details in GST returns, e-way bills, and other documents are pre-populated, reducing reconciliation issues.
Additionally, it assists you in determining ITC eligibility through real-time visibility of invoices and removes fraudulent invoicing.
What distinguishes BUSY from other e-invoicing solutions?
Following are the features that not only distinguish BUSY from other e-invoicing solutions but also make it the best e-invoicing software in India:
- BUSY allows you to create electronic invoices with a single click instantly. The best thing is that you don’t need a manual interaction during the process. It does everything for you.
- This solution generates an Invoice reference number and QR code for you automatically.
- With BUSY, you can create an electronic invoice for a single transaction or for a batch of transactions.
- You can view the status of e-invoices on a transaction-by-transaction basis.
- BUSY allows you to detect, prevent, and correct errors in a timely manner, enabling you to deal with exceptions with ease.
- Flexibility to produce e-invoices in offline mode in the event of network failure. This implies that you can even export data required for e-invoicing in an offline mode, allowing you to deal with potential network challenges.
- BUSY e-invoicing system is quick, reliable, and robust.
- From rapidly producing e-invoices to tracking them via the e-invoicing report and everything in between, BUSY ensures you have the most pleasurable experience possible.
- You can smoothly produce mass electronic invoices with BUSY.
- More often than not, canceling an e-invoice is not easy. However, with BUSY, you can cancel an e-invoice without any hassle.
Since e-invoicing is necessary for all organizations in India, it is imperative that you use the best e-invoicing software available.
It makes it easier for you and your staff to work smoothly and efficiently when you have a reliable system in place.
Using an e-invoicing software like BUSY saves both time and money that you would spend on an employee to create invoices otherwise.
The speed with which you may generate mass invoices with e-invoice software is also unmatched by the ability to generate them manually.
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BUSY is the best GST accounting software, you can generate, record, and print all of your e-invoices while also storing all of your data securely in the cloud, eliminating the need to be concerned about data theft