Top E-Invoicing Software in India: Detailed Analysis

The world is rapidly moving towards digitization, and the GST Council is no exception. To promote this digital shift, the council has mandated that businesses with an annual turnover of over 5 crores must use e-invoices for B2B supplies.

The main objectives behind this initiative are to enhance transparency, curb tax evasion, and streamline invoicing processes.

Hence, to aid businesses in this transition, numerous software solutions have emerged. In this article, we will explore the top e-invoicing software available in the market.

Let’s delve into the details:

Table of Contents

1. Refrens: Top E-Invoicing Software

First up we have Refrens, a budding software that is increasingly becoming a favorite of businesses of all sizes in 178 countries, with an impressive user base of 150,000.

It stands out for simplifying complex tasks like invoicing and offers cost-effective and time-saving e-invoicing software. Additionally, it caters to e-invoicing needs for Export and SEZ businesses and can generate IRN for Credit Notes and Debit Notes as well.

With Refrens, you can save and reuse your information, avoiding repetitive data entry. The software also validates your data to ensure accuracy, highlighting errors or missing fields for easy rectification. What’s more? Seamlessly cancel e-invoices with just a few clicks.

Moreover, Refrens allows you to send invoices and other documents through platforms like WhatsApp and email. It also makes “sending reminders” a breeze and significantly improves the payment collection process, for which it offers a wide array of payment methods for added convenience.

Hence, the software’s user-friendly nature has earned it the distinction of being awarded the best accounting software for “ease of use” by Gartner.

Beyond e-invoicing, Refrens streamlines various operations, reduces administrative burdens, and enhances efficiency, making it a one-stop solution for all your business needs.

2. Zoho E-invoicing Software

Zoho is another reputable platform that has gained the trust of many businesses, offering a comprehensive suite of financial services. With Zoho, creating e-invoicing becomes effortless.

As a recognized GST Suvidha Provider, it allows you to directly upload your invoice into IRP, eliminating the need for additional trips to other GSP portals.

Zoho Books, part of the Zoho suite, excels in managing receivables and payables, inventory tracking, banking transactions, timesheets, contact management, and report generation. It provides a holistic overview of a business’s financial health.

To cater to diverse businesses, Zoho offers a range of affordable pricing plans and mobile apps for iOS and Android, enabling users to manage their finances from anywhere.

Not just e-invoices, Zoho can help you create e-way bills too! (Don’t know what e-way bills are? Learn Everything To Know About e-Way Bills) Check out this comprehensive list of Top e-Way Bill Software

3. Tally E-invoicing Software

Tally is a renowned and sophisticated software that offers a plethora of features, including e-invoicing capabilities. With TallyPrime, generating an e-invoice becomes a seamless process.

The software also provides easy e-invoice tracking solutions and cancellation options. In case your internet gets disconnected during e-invoice creation, TallyPrime will export the data in the form of a JSON file, preventing the need to start over.

Tally also includes various tools like TallyPrime (Business Management Software), Tally Software Services (for software subscriptions), TallyPrime Server (for improved business efficiencies), TallyPrime Powered by AWS (for virtual access to licenses and data), and Shopper 9 (for complete retail enterprise solutions).

Also read: E-invoicing In GST: A Complete Guide

4. Masters India E-invoicing Software

As a GST Suvidha Provider appointed by the Goods and Service Tax Network (GSTN), Masters India offers seamless integration of your existing ERP, ensuring 100% ITR claim and providing an end-to-end compliance platform for your finance needs.

As a GSP itself, Masters India allows easy generation of e-invoices, real-time compliance reporting, AP process automation, and generation of various reports. It also provides solutions such as GST Software, Invoice OCR Software, Accounts Payable, and APIs like Vehicle Tracking, Vendor API, and GST API to streamline different business activities.

Also read: Best Practices For Creating And Sending Invoices To Clients

5. Swipe E-invoicing Software

Swipe is another software option that provides around 40 features, including e-invoicing services. Its streamlined process makes generating e-invoices easy and efficient.

Additionally, Swipe functions as a free GST billing software, enabling real-time tracking of sales, purchases, and estimates. It can also manage inventory, file GST returns, and create and share professional invoices.

Also read: How To Create GST Invoices In 2 Minutes?

6. Wepsol floTax E-invoicing Software

floTax is a comprehensive solution that automates the e-invoicing process and allows bulk uploads and generation of e-invoices with IRN, adhering strictly to government regulations. It integrates effortlessly with any ERP system through RESTful API technology, ensuring smooth data transfer and real-time invoice status tracking.

It’s got an insightful dashboard that provides valuable financial insights. You can flexibly generate invoices via its ERP integration or the ready templates.

It also has robust GST Reconciliation Software with an enhanced ITC Dashboard and automated reconciliation. Additionally, it triggers an automatic mail for quick discrepancy and response management.

7. Marg E-invoicing Software

Next on the list is Marg ERP which offers comprehensive software to simplify e-invoice generation. It eliminates the need for manual data entry and creates invoices in a standardized format for easy sharing and convenience.

With Marg, you can benefit from its advanced data validation process to identify errors and ensure legal compliance. Uploading invoices directly to the Invoice Registration Portal and automatically reconciling GSTR reports is also a plus.

Marg also provides assistance with filing GST returns, making GST compliance all the more easy.

Marg e-invoicing - Top E-invoicing Software

Also read: Common Invoicing Challenges for Businesses and How to Solve Them

8. GSTHero E-invoicing Software

GST Hero is integrated with various other ERPs like SAP, Tally, Oracle, and Mircosoft, allowing easy e-invoice generation within your existing accounting system.

It stores your IRNs for years, and online Invoice Registration Portals store them for only 48 hours, hence ensuring the safety of your crucial data. It also facilitates bulk e-invoice generation and automates much of your data entry process.

Conclusion

As the Indian Economy continues to embrace digitization, it becomes vital for businesses to adopt the right software solution to streamline their invoicing needs, save time and personnel, and focus on scaling their operations.

Whether you require basic invoicing features or comprehensive financial management, the software mentioned above offers a wide range of features to simplify your business operations in an organized manner.

Embrace the digital revolution with e-invoicing software and transform the way you manage your invoices, payments, and financial transactions!

Also read: How to choose the best Invoice Management Software?

FAQs

E-Invoicing guidelines are applicable for whom?

Businesses with over 5 crores annual turnover must create e-invoices for B2B supplies

Can an e-invoice be canceled?

The invoice can be canceled within 24 hours at Refrens. After 24 hours, it can be done manually on the GST portal before you file returns.

Can you bulk upload invoices to generate IRN?

With Refrens, yes you can.

What do I need to generate an e-invoice?

You need an invoice with all mandatory information, your GSTIN, and your GSP username and password.

What is the system of e-invoicing?

The system of e-invoicing involves creating electronic invoices with mandatory details, generating an Invoice Reference Number (IRN) and QR code through an e-invoice software, and then submitting the generated data to the GST E-Invoice Portal for further processing and viewing.

How do I use e-invoice software?

To create an e-invoice on Refrens, you first need to create an invoice with mandatory fields. Then, click on “GENERATE IRN” and provide your GSTIN, GSP username, and password. Click “SAVE,” and the IRN and QR code will be generated and added to the invoice, and the data will be sent to the GST E-Invoice Portal.

Can an E-Invoice be generated after the invoice date?

Yes, e-invoices can be generated after the invoice date, but before filing your returns. Though companies with more than 100 crore turnover will have to generate e-invoices within 7 days of invoice generation.