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E-invoice
Time Attendance
Standardization and Formats
  • Standardization and Formats
  • • E-invoices must use standardized formats, like UBL or JSON, for system compatibility.
  • • The invoice includes buyer, seller, tax, and product details.
Payroll
Integration with Government Systems
  • Integration with Government Systems
  • • E-invoicing platforms connect with government portals for quick validation.
  • • Governments get real-time transaction data for timely tax assessments.
  • • The government system generates and stores the IRN and QR Code for authenticity.
Employee Calendar
Advantages for Businesses
  • Advantages for Businesses
  • • Reduces the chances of mistakes in tax calculations.
  • • Saves time, cuts costs, and promotes sustainability by removing paper.
  • • Easier audits due to digital records and real-time tax reporting.
  • • Faster approval and clearance of invoices.
Personnel
E-Invoicing Process
  • E-Invoicing Process
  • • The business generates an electronic invoice through its system.
  • • The invoice is sent to a government platform for validation.
  • • Once validated, the government approves or rejects the invoice.
  • • Approved invoice is sent to the buyer and stakeholders, and recorded for taxation.
Transportation
Government Benefits
  • Government Benefits
  • • Governments can instantly access transaction data, enhancing oversight.
  • • E-invoicing tracks every invoice, preventing transaction underreporting.
  • • Real-time processing helps the government track tax liabilities and ensure compliance.
  • • Governments use data for better policymaking, planning, and monitoring.
Transportation
Challenges and Considerations
  • Challenges and Considerations
  • • Both businesses and governments need the right infrastructure for E-invoicing.
  • • Small businesses may struggle with new invoicing systems, needing training and software investment.
  • • Securing sensitive data is crucial as e-invoicing systems handle transactional information.