This post was most recently updated on May 19th, 2023
As a business owner, you know that invoicing is a necessary evil. It’s one of those tasks you must do that no one enjoys. However, thanks to e-invoicing software, creating and sending invoices has become much easier (and faster) than it used to be. But with so many different e-invoicing software programs on the market, how do you know which one is right for your business? This blog post will discuss some things to look for while choosing an e-invoicing software program for your business.
Let’s look at them: –
1. Generate e-invoices instantly
Invoicing is a key function of the business and with e-invoicing, it becomes even more critical. E-invoicing requires businesses to upload all b2b invoice details to IRP for validation and add a QR code on the invoices before issuing them to the buyer. A connected e-invoicing software will simplify the process by instantly generating e-invoices. It comes with the capability to automatically upload the invoices, get instant validation, and add a QR code on the invoices as per the e-invoicing guidelines. On the other side, e-invoicing, which is a form of EDI file format, makes it possible for trading partners to exchange invoices in real time, thereby helping streamline business transactions.
2. Bulk Uploading of E-invoice
In several business circumstances, you might have to generate e-invoices in bulk instead of using the one-by-one method. For instance, some businesses follow the Checker and Maker system of invoicing. Here, the invoices get generated through the “MAKER” and then get verified by the “CHECKER”. That’s why you should look for e-invoicing software through which you can easily send e-invoices in bulk. The software should also print and fetch the QR code on the invoices easily.
3. Canceling an E-invoice
At times, the invoices for the IRN, which have already been generated, need to be canceled. The cancellation can take place for multiple reasons, such as a data entry error, duplicate entry, order cancellation, and many more. So, you must look for an e-invoice software that will enable you to cancel these types of invoices and send all the information to IRP automatically about the IRN cancellation. Apart from that, when you have already initiated the IRN cancellation from the portal, get yourself an e-invoicing software that can obtain all these details from the portal and then update the status of the IRN within the books.
4. Flexible in Utilizing Other Modes of E-Invoicing
During exigency cases, such as unavailability of the internet connection on the system or for any other purpose, if you want to utilize other modes of e-invoicing, you can do so. The other modes of e-invoicing are portal, direct entry, offline utility, and many more. You must look for GST software, which will be flexible enough to enable this. Besides that, it must also get the IRN, QR Code, etc., right from the portal and then update the books properly.
The Bottom Line
e-Invoicing software is an essential investment for businesses of all sizes. By automating the invoicing process, businesses can save time and money. In addition, e-invoicing can help businesses to improve their customer service and reduce accounting and administrative costs. Be sure to read reviews and compare prices before planning. With so many excellent e-invoicing software options, there is no reason not to make the switch!