E-invoice for your business in Singapore
The Singapore government launched InvoiceNow as a nationwide initiative in collaboration with the PEPPOL network in 2019 to accelerate the pace of adoption of e-invoices among the Singaporean private sector. Port Cities is Peppol-ready and IRAS-approved ERP/Accounting Solution Provider that is helping Singaporean companies speed up their invoicing process and reduce operational costs with the electronic invoice integration in Odoo.
The meaning of e-invoices
An electronic invoice, e-invoice, or online invoice is an electronically delivered invoice with a specific standardized format and requirements. An e-invoice carries invoice data in a structured format that can be sent directly from your ERP system to the corresponding system of your customer. If you are planning to start with e-invoicing it's not enough to send just a PDF through email. The invoice needs to be sent in a format that the system of your customer can read.
E-invoices are not:
Unstructured invoice data issued in pdf or Word formats
Images of invoices such as jpg of tiff
Unstructured HTML invoices on a web page or in an email
OCR (Scanned paper invoices)
Paper invoices sent as images via fax machines
Benefits of e-invoicing for Singaporean businesses
Faster payment process
An electronic invoice is usually delivered to the recipient's system in a few minutes, reducing the time required for payment.
With e-invoices, you can save a substantial amount of time and money by eliminating paper from your invoicing procedures, by automating the invoicing process.
Your data are secured
Thanks to the PEPPOL secure network, the E-invoicing solution encrypts all the information in your online invoices and keeps your data safe until it's delivered.
Fuel future growth
Starting with e-invoicing is a great way to begin or advance your business's digitalization, and it is a critical step in ensuring the efficiency and scalability of your operations for future growth.
How e-invoicing works in Singapore
1. Creation of e-invoices in Odoo
After filling in all necessary information, Odoo will generate your invoice and send it to an
Access Point (PEPPOL authority in Singapore)
2. Legal requirements
The Access Point will generate electronic invoices that meet all of Singapore's regulatory standards and are in a standardized format.
3. Ready to go
After your electronic invoice is ready and meets with all the requirements, it's sent through the PEPPOL secured network to the buyer's system as well into your Odoo.
INTERESTED IN E-INVOICING FOR YOUR BUSINESS IN SINGAPORE?
CONTACT PORT CITIES
Port Cities is an Odoo implementation partner ready to assist you with the configuration of your e-invoicing solution. This contact form helps us understand your needs.
DISCUSS YOUR NEEDS
Based on the provided information, our consultants analyze your requirements and organize a demo to show you how e-invoicing works with Odoo for businesses like yours.
GET YOUR PERSONALIZED E-INVOICE INTEGRATION
After the demo, we will implement the Odoo e-invoicing solution so you can handle your invoicing processes seamlessly.
Frequently Asked Questions
PEPPOL is a secured international network that allows you to send and receive business critical documents with everyone who is registered as a part of PEPPOL network, in a standardized format. Port Cities is a Peppol-ready and IRAS-approved ERP/Accounting Solution Provider
Infocomm Media Development Authority is a statutory board in the Singapore government that seeks to deepen regulatory capabilities for a converged infocomm media sector, safeguarding the interests of consumers and fostering pro-enterprise regulations.
InvoiceNow — a nationwide E-invoicing method that facilitates the direct transmission of invoices in a structured digital format across financial systems in Singapore, based on the open standard PEPPOL network.
In a usual business scenario today, an PDF e-invoice is sent to the buyer's organisation by email. This requires your buyer to insert manually all the details of the invoice into their own finance system. An e-invoice solution speeds up the transmission of data automatization process, delivering invoices from a supplier system to a buyer system without human intervention.
Yes, InvoiceNow e-invoicing can be integrated to accounting systems. Since we are a PEPPOL ready accounting/ERP solution provider, we have been approved of assisting business users to send and receive e-invoices through the Peppol network.
If you are using another accounting solution than Odoo, please check the PEPPOL Ready solution partner list found at www.imda.gov.sg/einvoice to see if your accounting system is connected.