Collaboration TechnologiesDigital PaymentsTechnology For SMEs

TallyPrime to Simplify E-Invoicing Compliance Through Connected Solution

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The implementation of e-invoicing, under the GST framework, will bring B2B businesses with an annual turnover of INR 100 crore and above under the new compliance gamut from 1st January 2021. To ensure that these businesses are able to transition and manage e-invoicing with utmost ease, Tally Solutions, India’s leading business management software provider, will introduce its new fully-connected solution – TallyPrime Release 1.1 before the implementation date.

Commenting on this launch Tejas Goenka, Managing Director, Tally Solutions said, “As India is preparing for the inevitable rollout of e-invoicing over the next few months, we have been working to ensure that our customers have a smooth experience through this journey. We are soon releasing TallyPrime Release 1.1 that provides a end to end connected e-invoicing capability, and in the meantime, we have already begun to engage with and educate thousands of businesses on the impact to their business and what they can do about it.”

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Tally, a recognized GSP (GST Suvidha Provider) will communicate directly with the IRP (Invoice Registration Portal) to send invoices through TallyPrime in real time. Once authenticated it will receive the unique IRN (Invoice Reference Number) and QR code details from the IRP and update the invoices accordingly. All this will be done seamlessly, and the business owner can simply print the QR code and IRN on the invoice as part of their regular invoicing process. In addition to the e-invoice, the software will also help generate e-way bill numbers for applicable transactions.

Entrepreneurs will also be able to get a holistic view of the status of transactions and manage exceptions with the help of an exclusive e-invoice report and IRN register. Tally’s GSP (Tally India Pvt Ltd) has followed strict information security policies as per international standards and has been awarded with ISO27001:2013 certification. TallyPrime users will always remain in control of the e-invoicing process through useful alerts that will prevent redundancy, ensuring that the latest data is shared with the IRP. Alerts will also help safeguard against accidental modification /deletion /cancellation of e-invoices. The software will also help manage rare situations of internet downtime.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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