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Invoicenow
InvoiceNow is a national e-invoicing network in Singapore
Invoicenow Introduction
InvoiceNow is a national e-invoicing network in Singapore. It is an e-delivery network based on the international standard "Peppol", enabling secure and reliable invoice document exchange between suppliers and buyers.
GST-registered businesses are required to gradually use InvoiceNow to transmit invoice data directly to the Inland Revenue Authority of Singapore (IRAS) for tax administration, promoting the digital economy and the digital transformation of enterprises.
InvoiceNow involves three parties: IMDA-accredited access points, InvoiceNow Ready Solution Providers (IRSPs), and GST-registered businesses.
Kingdee Invoice Cloud Invoicenow Solution
Kingdee Invoice Cloud, as one of the InvoiceNow service providers, offers compliant InvoiceNow implementation solutions.
Kingdee Invoice Cloud is an e-invoice service provider recognized by InvoiceNow and IMDA. It transmits invoice and credit note documents to the IRAS system via an Access Point (AP) in accordance with the specified data format and transmission path.
By leveraging the transmission information fed back by the AP, Kingdee Invoice Cloud stores and displays the status of each invoice data transmission in its e-invoice system, thus providing enterprises with traceability and tracking services for submissions to the IRAS system
It supports the addition of the Document UUID field to all sales invoice documents and ensures that this field is included in the data extracted and submitted to IRAS for the unique identification of documents.
The built-in functions of the e-invoice service platform are connected to Peppol and C5. Through our adapter service, seamless e-invoice issuing and e-document exchange can be achieved.
For different types of invoice data, such as invoices not transmitted via the Peppol network, they are submitted to C5 at the specified time nodes and no later than the tax return deadline.
Invoicenow Value
Digitalization and Cost Savings
It facilitates enterprise digitalization and reduces costs. For example, it cuts down on compliance work in preparing data for submission to IRAS, saving labor and time costs.
Faster Tax Refunds
Enterprises can obtain GST tax refunds more quickly. Since the use of InvoiceNow can reduce the number and duration of audits, the capital turnover efficiency is improved.
Standardized Invoice Management
It clarifies the invoice data submission process and requirements, making enterprise data submission more standardized and accurate, which is convenient for tax management and the enterprise's own financial management.
KIntroduction to Kingdee Invoice Cloud
In 2022, it was selected as a "Sales Invoice Automation" service provider by FORRESTER.
100,000+
Empowering Global Businesses
2,000,000+
Services for individual users
1,000,000,000+
Cumulative invoices processed
40+
Industries Covered
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