Saral Accounts is now enabled with E-Invoicing
E-way Bill is used to facilitate the transportation of goods from one place to another by filing of ‘E-Way Bills’ on the common GST portal. Similarly, in the 35th GST Council meeting, it was decided to implement a system of E-Invoicing, which will be applicable to specified categories of business. The system is implemented from 1st October 2020.
Currently, businesses generate invoices through various software and the details of these invoices are manually uploaded in the GSTR-1 return. Once the GSTR-1 is filed by the respective suppliers, the invoice information is reflected in form GSTR-2A for the recipients for viewing only. On the other hand, the consignor or transporters must generate an E-way bill by again importing the invoices in excel or JSON manually.
‘E-Invoicing’ or ‘Electronic Invoicing’ is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal.
Under the E-Invoicing system, the process of generating and uploading invoice details will remain the same. It will be done by importing using the excel tool/JSON or via API integration, either directly or through a GST Suvidha Provider (GSP).
On upload, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP) which is managed by the GST Network (GSTN). All invoice information will be transferred from this portal to both the GST portal and E-way bill portal in real-time. Therefore, it will eliminate the need for manual data entry while filing GSTR-1 return as well as generation of Part-A of the E-way bills, as the information is passed directly by the IRP to the GST portal.
E-Invoicing is not the generation of invoice on the GST portal; instead, it is the submission of an already generated standard invoice on a common e-invoice portal. Thus it automates multi-purpose reporting with a one-time input of invoice details.
To know more on E-Invoicing and its registration with IRP, read below;
Benefits of E-Invoicing
Tax leakage and frauds using fake invoices are the major issues the government is trying to fight since a very long time. E-Invoicing is proposed to put an end to this by mandating authorization of every invoice from the government portal.
- Businesses will have the following benefits by using E-Invoice initiated by GSTN:
- One-time reporting of the invoicing details for all your GST filings
- E-invoice resolves and plugs a major gap in data reconciliation under GST to reduce mismatch errors
- E-invoice created on one of the software can be read by another, allowing interoperability and help reduce data entry errors
- Real-time tracking of invoices prepared by the supplier is enabled by e-invoice
- Backward integration and automation of the tax return filing process the relevant details of the invoices would be auto-populated in the various returns, especially for generating the Part-A of E-way bills
- Faster availability of genuine input tax credit
- Lesser possibility of audits/surveys by the tax authorities since the information they require is available at a transaction level
E-Invoicing in Saral Accounts
In Saral, E-Invoicing is made available for applicable persons to upload their invoice to IRP portal in one click. One can generate the e-invoice on generating a sales invoice, and upload the same instantly. The signed e-invoice can be printed with the QR code or the IRN details. The invoice can also be mailed to the buyer if email configuration is done in the software.
Benefits of E-Invoicing in Saral Accounts
E-Invoicing in Saral Accounts will help the user in:
- Auto JSON file generation on Sales Invoice entry
- JSON file will be uploaded to IRP with a single click
- On successful upload to IRP, E-Invoice IRN, Acknowledgment Number with QR code will be auto updated to the respective invoices
- Bulk Invoice upload to IRP
- View invoice upload status in a single screen
- Cancellation of E-Invoice in a given time period
- Print E-Invoice with QR code
- E-invoice can be mailed to the customer or details can be sent over SMS
Other benefits are:
- Can configure all combination of Items
- Customizable Invoice with logo etc
- Digital Signed Invoice
- Multi branch management with e-invoice login
- E-Way generation within E-Invoice
E-Invoicing Configuration, Utilization and Reports in Saral Accounts
Before enabling E-Invoice, make sure the below details and settings are made in the software.
- Company master details like Company address, PINCODE, contact details and GSTIN are entered. To update these details, go to Master >> Company Info and update the relevant details
- Next, go to Master >> General Settings and enable Is HSN/SAC Mandatory
- After this, go to Master >> Item and update HSN code for all the items. To update the HSN code in bulk, one can use the option of Bulk Tax Apply under Master Module
Now, we can start configuring E-Invoice in Saral.
- Go to Inventory >> Inventory Settings >>Features, click on Enable E-Invoice. Now apply and save the settings
- Now, go to the Compliance >> GST Returns >>Settings to update the Login credential details. Here, enter the E-Invoice Portal (IRP) Username and Password for JSON upload. Save and close the window
Note: If login is not created in E-Invoice Portal then please visit https://einvoice1.gst.gov.in and create the required credentials. For more details on enabling E-Invoice in your GST Login, kindly follow this link https://einvoice1.gst.gov.in/Documents/eInvoice_process.pdf.
- Next, go to Inventory-> Transaction Formats and select/create Sales Invoice format. In the format, enable Generate E-Invoice JSON on Save to generate and upload the E-Invoice JSON immediately after the sales invoice is saved.
- Go to Inventory >> Sales Invoice. Select the Sales Invoice format and enter the sale details like date, customer ledger, etc. Press F9 on Customer ledger to update customer Address, Place, PIN Code, Mobile Number, Email ID, State and GSTN, if not entered and save the details
- Next, enter the item details with Quantity, Unit rate, Tax Rate, and other details
- Click on Others >> Despatch From. Click on Add Delivery Address to update the despatch address, place, PIN code, State, Mobile No. On saving the address, select the address as the dispatch address
- Next, click on the Delivery Address. Here, click on Add Delivery Address to update the delivery address, place, PIN code, State, Mobile No. On saving the address, select the address as delivery address. Save and exit the window
- On save of invoice, a message will be displayed asking to generate E-Invoice JSON. If you click on Yes, the invoice JSON will be uploaded to IRP. ON successful upload, the success message will be displayed
- Lastly, click on Others >> E-Invoice Details to check the uploaded E-Invoice Status along with Acknowledgment Number, Acknowledgment Date, IRN and QR Code
The below steps can be flowed to upload invoices in Bulk to IRP
- Go to Inventory >> E-Invoice. Here, select View Type as Pending and enter the date range. The list of invoices for the selected date will be displayed. Select the required Invoices from the list
- Click on Create JSON to create the JSON file for upload
- After JSON creation, click on Upload to upload the created JSON
- On successful upload, the success message stating JSON Uploaded Successfully will be displayed
- The E-Invoice Status along with Acknowledgment Number, Acknowledgment Date, IRN and QR Code will be updated against the respective invoice in the same window
- Go to Inventory >> E-Invoice; select the required View Type to view All Invoices or Pending or Uploaded Invoices. These details can also be exported to required type on right click of the screen