In this article, we will cover a brief description including features, benefits and characteristics of E-Invoicing Software and E-invoicing APIs. Both E-invoicing software and API (Application programme Interface) are interlinked with each other and help in the smooth and efficient generation of electronic invoices. Without baffling around much, let’s start the article.
What is E-Invoicing under GST?
E-invoicing or electronic invoicing is a type of system in which B2B which is buyer-to-buyer invoices are authenticated electronically by GSTN for further use on the Goods and Services Tax portal. Under the electronic invoicing system, a unique identification number will be issued for every invoice by the Invoice Registration Portal, also known as IRP. IRP or Invoice Registration Portal is managed by the GST network (GSTN). The National Informatics Centre launched First Invoice Registration Portal.
What is E-Invoicing Software?
E-invoicing software is a type of software that helps in the smooth and convenient generation of electronic invoices. The E-invoicing software has the ability to generate e-invoices from ERP in just a single click. E-invoicing software helps in the fastest IRN or invoice registration number generation. It’s complete accounting software with the E-invoices generation ability.
Benefits or Advantages of Using Electronic-Invoicing Software
Electronic invoicing software is a new and modern way of generating electronic invoices seamlessly without any complications and obstacles. There are several benefits or advantages of using it, these are as follows:-
- Electronic invoicing software helps in the generation of electronic invoices in bulk. It takes only five minutes to generate e-invoices and it really does save a lot of time.
- It generates electronic invoices automatically without any manual data filling.
- Electronic invoicing software is fast, reliable and accurate in nature. There’s no scope of error in it. It generates results with zero to minimize errors.
- It automatically prints the Invoice Reference Number and gives QR code.
E-Invoicing or Electronic Invoicing APIs
What is E-Invoicing API?
API is also known as Application Programming Interface is a type of software that acts as an intermediary between two applications to help in the interaction of two applications. Under electronic invoicing, the taxpayers usually generate e-invoices under their respective ERP software and report the same on the Invoice Registration Portal. APIs help in the direct generation of e-invoices through the taxpayers’ system.
Understanding the comparison between XML vs. EDI can provide insights into different data formats used for electronic data interchange, which can further refine your e-invoicing process.
Different Types of Application Programming Interfaces or APIs
There are different types of application programming interfaces, these are given below:-
- Generate Invoice Reference Number
- Cancel IRN
- Generate E-way Bills by IRN
- Get IRN Details
- Get GSTIN Details
- Cancel E-Way Bill
- Get E-Way Bill Details by IRN
- Sync GSTIN Details from CP (Also Known as Common Portal)
- Health Application Programming Interface
- Get IRN Details or Invoice Reference Number Details by Document Details
Purpose of Using E-Invoicing APIs (Application Programming Interface) under Goods and Service Tax Portal
There are several purposes for using the electronic invoicing application programming interface or API under the GST portal. E-invoicing APIs are quite convenient in nature for taxpayers. With the help of these APIs, taxpayers can easily use a variety of interfaces that connect with the GST system for smooth and facilitating the generation of electronic invoices. These third-party applications can connect with the GST portal with the help of E-invoicing API to provide a smooth and seamless generation of E-invoices.
It also gives convenient and modern facilities to the GST taxpayers as compared to the traditional conventional way of filing electronic invoices. E-invoice API helps the taxpayers to generate their e-invoices under their respective ERP systems. The taxpayer then reports the same on the IRP (Invoice Registration portal).
Benefits of Using E-Invoicing API
- Easy and convenient for the taxpayers for the smooth generation of e-invoices
- It avoids the duplicacy or double entering of invoices
- Highly accurate in nature. Leaves no scope of errors
- Provides seamless and smooth integration between ERP and e-invoice portal.