Blog updated on 12 June, 2023
Over the past few years, the Government of India has been adopting e-invoicing to standardize how B2B invoices, B2G invoices, export sales, and sales falling under the reverse charge mechanism are recorded for taxation purposes. The latest announcement from CBIC mandates businesses and corporations with a turnover of ₹5 crores or more to generate e-invoices for all their required transactions starting 1 August, 2023.
The simplest way to comply with this new regulation is to adopt a smart accounting platform that generates e-invoices effortlessly. Some features that would be helpful are a seamless IRP integration, QR code capturing, and scheduling invoices that can help you manage all your e-invoice operations.
Zoho Books is one such example of a powerful all-in-one solution that is customizable, scalable, and enables you to stay compliant at all times.
How easy is it to generate an e-invoice in Zoho Books?
One of our main goals is to make the transition to e-invoicing with Zoho Books as smooth and effortless as possible. This means a one-time integration setup that gets you ready to start generating e-invoices in just a minute
In Zoho Books, you can create invoices in the e-Invoicing format by including all the mandatory fields mentioned in the e-invoice schema.
Since Zoho is a recognized GSP (GST Suvidha Provider), Zoho Books will directly upload your invoices to the IRP at the click of a button. Functions like pushing invoices in bulk to the IRP, setting up recurring invoices, automatically converting accepted estimates to invoices, and more will always keep you in compliance and one step ahead of your competition.
What more e-invoicing capabilities does Zoho Books have to offer?
Zoho Books goes beyond accounting and lets you streamline your entire financial management process. Here are some of the best features of Zoho Books when it comes to handling your e-invoices:
Seamless integration with extended benefits
Setting up e-invoicing in Zoho Books is a one-time process that gets you e-invoicing ready once completed. This secure integration keeps all your data protected and offers features like bulk IRN generation, automates e-invoice generation by setting up recurring invoices, and more.
Eliminate compliance worries
With Zoho Books, you no longer have to worry about tax compliance. Zoho Books strictly abides by the government-mandated tax invoice requirements for all your e-invoices and prints the respective QR code and IRN in the invoice PDF for each and every transaction made.
Manage multiple branches and GSTINs
Zoho Books gives you a bird’s eye view when it comes to managing multiple branches. You can define transaction series for each branch/GSTIN and track transactions happening across all your branches. You can also get insightful reports for each of your branch’s performance and more – all under one solution.
Smart validation of invoices
Zoho Books performs smart validation checks on all your e-invoices and prevents any and all incorrect data entry. It ensures that you generate your IRN with correct data without any violations or missing mandatory fields, saving you time and giving you an error-free e-invoicing experience.
Useful status updates
Zoho Books has a list of statuses that will be updated at each stage of your e-invoice process. It displays whether the invoice has been sent yet, or notify your teams when the e-invoicing transaction has failed or been canceled. Staying updated on your invoices at all times means that you can respond to changes faster and provide a better client or vendor experience.
Want to see Zoho Books in action?
The adoption of e-invoicing mandates in India comes with its set of benefits for businesses as well as for the tax administration of the Indian government. Benefits like interoperability across businesses, accuracy during manual data entry, and a huge simplification of the tax return process are much welcomed.
Zoho Books has always stood at the forefront in helping businesses transform their finance operations digitally while staying compliant. Along the same lines, Zoho Books’ e-invoicing feature with its advanced capabilities at an affordable price range is curated for your business to stay compliant, at all times.
Feel free to write to us at firstname.lastname@example.org if you have any concerns or questions about e-invoicing with Zoho Books. We’re happy to help!