E-invoicing Registration Grant
The E-Invoicing Registration Grant (ERG) is administered by IMDA in partnership with Enterprise Singapore to help businesses digitalise. This one-time grant of $200 aims to encourage all organisations to join the Nationwide E-invoicing Network by 31 December 2020. The grant is applicable for businesses which are valid, active and registered in Singapore on or before 25 March 2020. Payment will be disbursed by PayNow Corporate to the registered UEN (without suffix).
Be PEPPOL e-invoicing ready with Sage 300
Sage 300 is PEPPOL-ready in Singapore, meeting IMDA’s standards. Register for your PEPPOL ID through Sage 300 and enjoy the immediate benefits of E-invoicing and a $200 E-invoicing Registration Grant (ERG) from IMDA.
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What is PEPPOL?
IMDA has launched the nationwide E-Invoicing network in 2019. The network is an extension of the International Peppol E-Delivery Network.
Pan-European Public Procurement On-Line - PEPPOL is an EDI protocol that enables buyers and their suppliers to exchange electronic invoices over its secure network, regardless of the type of accounting software both parties are using. Peppol is a fast growing standard adopted by many countries that is suitable for both domestic and international transactions.
Advantages of E-invoicing
E-invoicing vs Online invoicing
It is important to note that E-invoicing is not the same as online invoicing.
Online invoicing, in most current business scenarios, refers to either a scanned copy of the invoice or a PDF file sent to the recipient organisation via email. The process relies on manual data entry as your recipient will have to re-enter the details of the invoice into his own accounting system (e.g. accounts payable). Similarly, you may be receiving many online invoices in the form of PDFs – you will also need to have someone manually input the invoice details or scan the pages of invoices into your system.
E-invoicing on the other hand is an invoice created digitally in a supplier’s financial system, transmitted electronically through the PEPPOL network to the recipient (buyer) where it is processed automatically without any human intervention. For example, E-invoices received in a PEPPOL-ready accounting solution can appear as draft bills automatically without any manual data entry.
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