Find the Best e-Invoicing Software

Best e-Invoicing software are Zoho Invoice, Vyapar, CaptainBiz, and FreshBooks. Invoices are generated by almost every business, mainly when they handle customers and vendors. Generating the invoices and sending them to your business or back to the vendors or clients will be very easy with these applications.

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List of 20 Best E-Invoicing Software

Showing 1 - 20 of 41 products

Category Champions | 2023

#1

100% free, online invoicing software for freelancers and small to medium enterprises (SMEs). It helps you craft professional invoices, send payment reminders, and get paid faster online. Read Zoho Invoice Reviews

Starting Price: Available on Request

Mobile App

Category Champions | 2023

#2

This bookkeeping software makes your accounting tasks easy, fast and secure. Start sending invoices, tracking time, and capturing expenses in minutes. We uphold a longstanding tradition of providing extraordinary customer service and building a product that helps save you time because we know you went into business to pursue your passion and serve your customers - not to learn to account. Read FreshBooks Reviews

Starting Price: Starting Price: $15.00 Per Month

Mobile App
API
Free Trial

Recent Review

"FreshBooks: The Simple and Intuitive Accounting Solution for Small Businesses" - Ayoub El Fahim

#3

Bonsai is an all-in-one business & financial management solution designed for small businesses, agencies, and self-employed professionals. It integrates and automates every step of business: from proposals, contracts to billing, accounting and tax preparation. Learn more about Bonsai

Starting Price: Starting Price: $17 Per Month

Mobile App
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#4

InvoiceOcean is a fully featured Billing & Invoicing Software designed to serve Enterprises, Startups. InvoiceOcean provides end-to-end solutions designed for Web App. This online Billing & Invoicing system offers Customizable invoices, Online payments, Online invoicing at one place. Learn more about InvoiceOcean

Starting Price: Available on Request

Mobile App
API

Category Champions | 2023

#5

TallyPrime is India’s leading business management software for GST, accounting, inventory, banking, and payroll. E-invoicing software is affordable and is one of the most popular business management software, used by nearly 20 lakh businesses worldwide. Read TallyPrime Reviews

Starting Price: Available on Request

Mobile App
API
Free Trial

Recent Review

"Very best softare in my view but some measure have to be taken in order make it perfect ." - Arpit mishra

Most Reviewed

Category Champions | 2023

#6

Vyapar is the simplest GST ready Accounting, Invoicing and Inventory management software. This is best e-invocing software made completely for a businessman, you don't have to waste time learning it. Just start managing your business digitally like before even with no Accounting knowledge. Read Vyapar Reviews

Starting Price: Starting Price: $39.99 Device/Year

Free Trial

Recent Review

"Review for Vyapar" - Junaid Ahmad

High Performer | 2023

#7

QuickBooks is an online accounting software for business owners to make stay on top of their finances. Easy to use interface, 100% data security and features such as Online bank connect and Whatsapp integration helps business owners to focus on growing their business. Read QuickBooks Online Reviews

Starting Price: Starting Price: $69.44 Per Year

Mobile App
API
Free Trial

Recent Review

"Easy to access" - Manisha Garg

#8

Swipe billing software and the app helps you to create sales/purchase invoices, quotations, manage inventory, save customers & vendors and be in control of your business. Create GST compliant invoices & share them with customers easily. Read Swipe - Billing Reviews

Starting Price: Available on Request

Mobile App
Free Trial

Recent Review

"Cool features" - Little Net

Contenders | 2023

#9

Simple Billing software with complete inventory and accounts modules. It's fast, reliable and easy to maintain. Ideal for businesses that have a large number of invoices and deals in 100's of SKU's. Typically used by distributors, retailers and small manufacturers. Read Horizon ERP Reviews

Starting Price: Starting Price: $191.75 One Time

API
Free Trial

Contenders | 2023

#10

HDPOS is the best accounting software. It has ease of use and nice interface. It is a Windows based Billing, Inventory Management and Accounting Software and it easly Install on single computer or multiple Terminals. Used for finance management system. Read HDPOS Smart Accounts and Billing Reviews

Starting Price: Starting Price: $18.06 Per Month

Mobile App
Free Trial

Recent Review

"Good software for tuff and intelligent people" - MOHANKUMARSETTY

High Performer | 2023

#11

MARG Billing is specifically software designed to provide support to Individual or Chain Business like Retail, Distribution, Manufacturing, ERP, Accounting and Payroll. Marg understands the demands of all different users, so Marg decided to design billing software whichever is capable of performing the requirements of users. Read Marg ERP9+ Billing & Invoicing Software Reviews

Starting Price: Starting Price: $112.5 Full Licence/ Single-User

Free Trial

Recent Review

"Superb" - Anuj kumar

#12

Track time for the projects and bill your clients on its basis with Invoicely. You can also add tax values, logo, shipping charges, discounts and other minute details to the beautiful invoices you'll create in this free open source invoice software. Read Invoicely Reviews

Starting Price: Starting Price: Available on Request

Mobile App
Free Trial

Recent Review

"Awesome software for billing" - Umesh Parmar

Category Champions | 2023

#13

Xero is award winning web based accounting software for small business owners and their accountant. This e-invoicing software is beautifully designed and easy to use online bookkeeping software. Read Xero Accounting Reviews

Starting Price: Starting Price: $9 Per Month

Mobile App
Free Trial

Recent Review

"A complete solution for the financial management of your company" -

Emergents | 2023

#14

ZipBooks is very simple and easy to use cloud based accounting and inventory software designed specifically for small businesses. This e-invoicing enables you to streamline your financial operations and increase productivity. You can get access to all essential accounting, inventory, sales and purchase features. Read Zipbooks Reviews

Starting Price: Starting Price: $69.43 User/Year

Mobile App

Recent Review

"A useful mobile app which makes finance handling as easy as clapping. " - Alexandre Bastien

Category Champions | 2023

#15

Swipe invoicing software is an online cloud-based solution. Using Swipez you can collect payments faster, organize company expenses, automate vendor payouts & perform e-invoicing GST filing. Automate your company billing using Swipez free billing software. Read Swipez Billing Reviews

Starting Price: Available on Request

Mobile App
API
Free Trial

Recent Review

"Amazing" - Rutuparna Behera

Category Champions | 2023

#16

Sage is best  e-invoicing software that offers a complete desktop accounting software that helps you spend less time managing your accounts and more time developing your business. With its easy to use interface, Sage 50cloud Accounting has aided small businesses and entrepreneurs to operate efficiently and effectively. Special Offer: 40% off Sage 50cloud annual subscriptions | Coupon Code: D-1929-0020. Read Sage 50cloud Reviews

Starting Price: Starting Price: $50.58 Per Month

Mobile App
Free Trial

Recent Review

"Excellent service" - Lynne Smit

#17

Everything about your business without hassle. Say goodbye to manual work & auto Saniiro BAIMS is a billing cum inventory and expense management software that is GST ready and generates GST reports and financial statements correctly without any typical operations. Read SANIIRO Reviews

Starting Price: Starting Price: $138.89 Per Year

Mobile App
API
Free Trial

Recent Review

"Easy and best software for accounting " - Ashwani

Category Champions | 2023

#18

Experience world-class technology that is built to make your community living more convenient and more secure. It’s easy to use, available in all local languages and made for all! Read NoBrokerHood Reviews

Starting Price: Available on Request

Mobile App
Free Trial

Category Champions | 2023

#19

Bill.com is complete online-based accounting software for ACH payments, and send electronic invoices and payment reminders. It takes less time to solve the problem and unique content of the site attracts to users. Read Bill.com Reviews

Starting Price: Starting Price: $29 User/Month

Mobile App
API
Free Trial

Recent Review

"Pay bills using Bill.com" - Shreyas Bhuva

#20

Easebuzz is an online payment solution catering to small and medium sector enterprises.  With over 10,000 merchants onboard, they are helping individual merchants now to collect online payments for their business via Debit, Credit and Netbanking options. Read Easebuzz Reviews

Starting Price: Available on Request

Mobile App
API
Free Trial

Recent Review

"The best Payment Gateway Services" - Shoeb Mannur

Until 31st Mar 2023

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e-invoicing software guide

What Is E-Invoicing Software?

E-invoicing or electronic invoicing software is a system that enables businesses to create and approve invoices electronically. Introduced in the GST software regime, e-invoicing specifies the invoice schema so that it can be read and operated by all the parties involved and accounting software uniformly.

In India, e-invoicing was introduced last year (2020). It went live in a phased manner, based on aggregate annual turnover (AATO). In the first phase, e-invoicing was made mandatory for companies with a turnover of more than ?500 crores on 1st October 2020.

The Central Board of Direct Taxes and Customs (CBIC) made the e-invoicing system mandatory for businesses with a turnover of more than ?50 crores from 1st April 2021.

E-invoicing software helps comply with government regulations, improves transparency, and is cost-effective. They also make it easier for you to adapt to changing GST requirements.

Advanced e-invoicing tools also allow you to set your invoices on recurring mode so you can auto-charge customers and don’t miss any payment.

How Does E-Invoicing Software Work?

To understand how e-invoicing software works, let’s first look at the parties involved. The key participants of e-invoicing include:

  • The business (the one creating the invoice),

  • IRP (Invoice Registration Portal),
  • GST/e-way bill system, and
  • The buyer (the one receiving the invoice)

The e-invoice system is categorized into two parts (as depicted in the below image). The first part consists of the business and the IRP. The second part consists of the GST/e-way bill system and the buyer.

Now, let’s understand how the electronic invoicing system works.

  • The company (you) generates the invoice using e-invoicing software.
  • The invoice is uploaded to the IRP automatically by your software.
  • IRP validates the invoice generated by your e-invoicing software.
  • Once the invoice is validated, a QR code and an IRN (Invoice Reference Number) are generated. It will also be digitally signed.
  • The invoice data is then transmitted to the e-way bill and GST system.
  • If the seller has all the details of the e-way bill (Part - A and Part - B) during the generation of the e-invoice, the e-way bill will be automatically generated. Similarly, the GST system will also auto-populate the details in GSTR-1 and GSTR-2A.
  • The buyer will then get real-time visibility in GSTR-2A for confirming the ITC of the invoice uploaded by the company (you).

However, all of this happens in the background. As a business owner, you won’t have to go through these steps to generate or share the invoice.

The e-invoice process is pretty simple. You can generate e-invoices in just a few steps:

  • Register your business in the e-invoice portal. This will enable you to connect with the e-way bill system.
  • Create API credentials for the GST portal for your e-invoice software.
  • Enter your portal credentials in your e-invoice tool.
  • Upload the invoices to the IRP.
  • You will then get validated, digitally signed invoices with the IRN.

The customer will then receive the acknowledgment.

Features of E-Invoicing Software

Features of E-Invoicing Software

While each e-invoicing software offers different features, the basic ones are the same. Here are the key features of an e-invoicing system:

  • Unique Invoice Reference Number (IRN): It enables you to automatically generate an IRN from the government portal after you upload the invoice.
  • Automatically send and receive invoices: Most e-invoicing software allows you to send and receive invoices to your customers automatically. This helps save costs, increase scalability, prevent you from missing payments, and achieve the best ROI possible.
  • Supports multiple invoice formats: When it comes to invoicing formats, every client has a different requirement (CSV, XML, EDI, PDF, etc.). Most e-invoicing systems allow you to create invoices in different formats.
  • Archiving capabilities: Archiving capabilities allow you to manage all your invoices (paid) by storing them in one place.

Advanced e-invoicing systems offer additional features, such as:

  • Creating professional quotes

  • Client portal where your customers can view their transactions

  • Bank transactions report

  • Project-wise timesheets to track every billable minute

  • Share sales orders with customers

  • Manage purchase orders from your vendors

  • Know your GST liability

  • Stay compliant with GST regulations

  • Mobile app (both Android and iOS)

  • Automation to eliminate manual errors and save time

Benefits of E-Invoicing Tool

Benefits of E-Invoicing Tool

E-invoicing tools offer a myriad of benefits to businesses, such as:

  • Fast and automatic process: Creating an invoice doesn’t take much time. You can even automate invoice generation for regular customers.
  • Auto-population in GST return filing: You don’t have to visit the GST portal to fill in the invoice details. Your e-invoicing system will do that for you.
  • Invoices can be archived so they can be used later: When conducting financial audits, invoices are a must. An e-invoicing tool allows you to store all your old invoices in one place.
  • Real-time invoice tracking: E-invoicing software enables you to track invoice progress in real-time (approved, digitally signed, received by the customer, etc.). This ensures faster availability of input tax credit (ITC).
  • Ensures GST compliance: E-invoicing tools get your invoices approved from the government portal (IRP) and generates a government validated invoice number. This guarantees the authenticity and credibility of the invoice while ensuring GST compliance.
  • Eliminates manual errors: Since e-invoicing systems auto-populate the GST and e-way bill portal on a real-time basis, it eliminates the need for manual entry, thereby eliminating errors.
  • Reduces costs: With digital invoices, you won’t have to spend on printing or postal fees. Also, it enables you to share invoices quickly, thereby saving working time, which you can use on other value-adding tasks.

Future Trends of E-Invoicing System

Future Trends of E-Invoicing System

The global e-invoicing market is projected to reach $15.5 billion by 2027, up from $4.84 billion in 2019. Here are the top three trends that will boost the growth of e-invoicing systems.

1- Big Data Will Be Implemented in the E-Invoicing System

As of October 2020, about 2.4 million e-invoices were being generated every day. That too when only businesses with a turnover of more than ?500 crores were using e-invoices. The number is likely to be more than double now.

However, most invoices are available in an unstructured format. But with better implementation of technology, businesses are likely to use big data to bettto manage their invoices better, reduce tax fraud, and get a holistic picture of their payables and receivables.

2- Real-Time Economy Will Soon Become a Reality

Not only in India, but e-invoices are used globally. Since e-invoicing software offers real-time access to your invoices, it will help the government to get a better understanding of the economy.

For instance, most tax agencies in Southern America are already using real-time data flows in e-invoices for business validation and reporting purposes. In the coming years, we can even expect real-time tax applications to be facilitated by tax agencies.

3- Businesses Will Leverage Blockchain

Blockchain technology enables businesses to record and distribute digital information. However, once recorded, it cannot be edited. Another benefit of blockchain is that it makes cash flow management smoother at all phases of the e-invoicing process.

For instance, companies will be able to send and pay invoices using both fiat and digital currencies. Blockchain will also mitigate the risks of fraudulent activity by verifying the details of incoming and outgoing invoices.

With the e-invoice already being implemented for businesses with a turnover of ?50 crores and above, it has become a necessity to have the best e-invoicing software that will help you generate electronic invoices.

Last Updated: February 27, 2023