About E-Invoice
What Is E-Invoice
An e-invoice (electronic invoice) is a digital version of a traditional paper invoice, created, sent, and stored in an electronic format. Unlike paper invoices, e-invoices are generated, processed, and transmitted electronically, often directly between businesses and tax authorities.
With the rise of digital technology and the push for tax compliance, many countries are adopting e-invoicing as a mandatory method of invoicing. E-invoicing systems, like Jomeinvoice, enable businesses to streamline their invoicing process, reduce human error, and enhance data security.
Benefits of E-invoicing
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Efficiency: Save time and reduce errors by automating invoice generation and transmission.
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Cost savings: Eliminate the need for paper, printing, and postage costs.
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Compliance: Stay compliant with government regulations regarding invoicing, tax reporting, and e-filing.
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Transparency: E-invoices provide a clear, auditable trail of transactions.
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Faster payments: Streamlined invoicing and faster approval workflows help to get paid quicker.
How It Works with Jomeinvoice
Jomeinvoice simplifies e-invoicing by helping businesses generate and submit their invoices to LHDN. This guide outlines the key steps involved in the e-invoicing process and how Jomeinvoice assists at each stage.
1. Creating an E-Invoice
When a business makes a sale or requires an invoice adjustment, an e-invoice must be generated. With Jomeinvoice, users can create or upload invoices, which we then convert into e-invoices and submit to LHDN.
2. Validation Process
LHDN conducts real-time validation to ensure compliance with required standards. Once approved, a Unique Identifier Number (UIN) is assigned to the e-invoice, enabling traceability and reducing the risk of tampering.
3. Notification of Validation
Both the supplier and buyer will receive confirmation once the e-invoice has been successfully validated. Jomeinvoice ensures that users receive these notifications seamlessly through our platform.
4. Sharing the E-Invoice
Once validated, Jomeinvoice automatically includes all required details and a QR code in the e-invoice. The buyer can verify it directly via the official e-invoicing portal.
5. Rejection or Cancellation
A specific period is allocated for buyers to request rejection of an e-invoice and for suppliers to initiate cancellations if needed. Any such request must be supported by valid justifications. Jomeinvoice streamlines this process, making it easy for users to manage cancellations and rejections.
Conclusion
By leveraging Jomeinvoice, businesses can automate their e-invoicing workflows, ensuring compliance while reducing manual efforts. Get started today and streamline your invoicing process with ease!