Understanding E-invoicing

E-invoicing is a standard format for invoice generation that needs to be followed by all B2B and B2G businesses with a turnover of 100 crores and above (as per the GST notification on 10th November 2020). It may soon apply to all B2B businesses.

As per the e-invoicing standards, all eligible businesses' tax invoices must have a standard format consisting of IRN (Invoice Registration Number) and QR code. The IRP (Invoice Registration Portal) will generate the unique IRN and QR code.

E-invoicing in Tally Prime

TallyPrime now comes with a fully connected solution that will help you transition to and manage e-invoicing with ease.

TallyPrime uses GSP (GST Suvidha Provider) technology which is ISO27001:2013 certified for following strict information security policies as per international standards.

Features:

• Generate e-invoices in a single click
• Print IRN (invoice reference number) info and QR code effortlessly
• Generate single e-invoice or in bulk
• Cancel e-invoice at the click of a button if required
• Exclusive e-invoice report will give you a single view of all e-invoicing tasks
• IRN register to check status of e-invoicing related transactions
• Intuitive prevention, detection and correction mechanism will help you deal with exceptions with ease
• Ability to export data required for e-invoicing in offline mode to deal with possible network issues

E-invoicing in Tally is as easy as regular Invoice generation. You can choose from single e-invoice generation and bulk e-invoice generation. TallyPrime 1.1 is GST compliant and is E-way bill enabled; thus, you can directly generate an E-way bill from Tally itself.

Here’s how you can get E-invoicing in Tally

To get E-invoicing in Tally, you must have the latest Tally version, i.e. Tally Prime version 1.1. 

If you're using any of Tally's older versions, you must update your Tally to the latest one to start e-invoicing in Tally. Update Tally to the latest version now.

To update your Tally, you must have a valid TSS (Tally Software Service). Get a valid TSS here.

In case you already have a valid TSS (Tally Software Service), you can download the latest version .exe file from here.

3 Easy steps to generate E-invoices in Bulk

Bulk E-invoice generation is simple.

• Go to the 'Exchange Menu' on the top of your Tally screen. Now click on 'Send for E-invoicing'
• You will get a report containing the pending E-invoice transactions. 'For generation of E-invoice' under the Pending title shows all the pending transactions for e-invoicing.
• Select all the transactions for which you wish to generate an e-invoice. And click on 'Send' to generate E-invoice or select 'Offline export' to get a JSON file of the transactions.

In this way, multiple E-invoices can be generated.

Steps to alter or cancel generated E-invoice

You can cancel an E-invoice in case of wrongly filled information or any other mistake. The process is as given below -

• Go to 'E-invoice report' by searching it in the 'Go to' switch.
• Go to 'IRN generated from E-invoice system' and go to 'IRN Register'. It will show you all the transactions with their IRN status.
• Select the transaction you want to cancel the IRN for. On the right side, you will see the option to 'Cancel IRN'.
• A confirmation message will appear with two options -
  • Mark as Cancelled
  • Update cancellation
• Press the first option; it will cancel the IRN but not upload it on the portal. You will have to go to the IRN register, make the changes and then send it for uploading.
• The second option will allow you to Cancel the IRN and state the reason for cancellation along with a space to write remarks and upload it on the portal.

In this way, you can cancel the IRN in case of any mistakes. You can create different user logins on the IRP to track user activity about E-invoice generation, cancellation and transaction modification, etc.

Track or check the status of your E-invoices

• You can track the status of your E-invoices, the cancellations made, as well as the pending IRN for transactions. You can also check these activities as per the user.
• You can access this report by going to the 'Display' in Gateway to tally screen, select on 'GST' next click on 'E-invoice report'.
• The E-invoice report will help you by showing you 'Uncertain Transactions' This section of the report shows you the transactions with wrong information or incomplete information that needs to be reviewed.
• On the right-hand side, there is an option 'IRN Register'. This register contains all the invoices for which IRN has been generated, along with complete details of the invoice.

In this way, you can refer to this report to check the status of E-invoices and details in the IRN Register.