‘E-Invoicing’ or ‘Electronic invoicing’ is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP), managed by the GST Network (GSTN).
All invoice information will be transferred from this portal to both the GST portal and e-way bill portal in real-time. Therefore, it will eliminate the need for manual data entry while filing GSTR-1 returns and generation of part-A of the e-way bills, as the information is passed directly by the IRP to the GST portal.
To whom is e-invoicing applicable?
From 1st April 2022 onwards e-invoicing is applicable to taxpayers having an aggregate turnover of more than Rs 20 crore.
The taxpayers must comply with e-invoicing if the turnover exceeds the specified limit in any financial year from 2017-18 to 2021-22. Also, the aggregate turnover will include the turnover of all GSTINs under a single PAN across India.
If the turnover in the last FY was below the threshold limit but it increased beyond the threshold limit in the current year, then e-Invoicing would apply from the beginning of the next financial year.
Suppose ABC ltd aggregate turnover was as follows:
FY 2017-18: Rs 15 crore
FY 2018-19: Rs 17 crore
FY 2019-20: Rs 24 crore
FY 2020-21: Rs 19 crore
FY 2021-22: Rs 18 crore (till date)
How to Generate E-invoice in Bookkeeper?
1. Make sure you are using Bookkeeper windows version 7.1.93 or above.
2. Go to Settings> Company settings> Enable E-invoice.
3. Navigate to Transaction >Sales Invoice> view> Select transaction> E-invoice.
4. Here you need to mention shipping details and Pincode.
5. We have two options to generate E-invoice
- For the JSON option: Click on Generate a JSON file. It will be saved on the Desktop. After this, you need to upload the generated JSON file to the E-invoice portal.
- For the Automatic option: We need to create a GSP id from the E-invoice portal and then proceed with the following steps:
Step 1: Log in to the e-invoice portal.
Step 2: From the main menu, select ‘API registration’. Click on the ‘Create API User’ tab under User Credentials in the API registration menu.
You will receive an OTP on the registered mobile number. On entering the OTP, the API registration form will open.
Step 3: In the API registration form, select ‘through GSP’ to integrate the APIs through GSP. Select GSP from the drop-down list Adaequare info private limited.
Step 4: Select the username and password for GSP and click submit. This will add the GSP to your GSP list. Share this username and password with your GSP so that you can send your e-invoice data through GSP to the e-invoice system.
Step 5: Go to Bookkeeper > Sales Invoice> View> E-Invoice> Click on Auto Generate Einvoice> It will ask you to enter your GSP username and Password then log in to generate E-invoice.
Note: If you have used prefixes in your invoice number for eg GST/22-23/001 or ARM/2022-23/001 The bookkeeper will show you the error message for the incorrect path as shown in the image below:
To remove this create a new folder on the Desktop > eInvoice_GST >another folder '22-23' then try again.
If you have any queries please let us know.