Article: How to Enable e-Invoicing in Tally Prime
Article Summary
This article guides users through the steps of enabling e-Invoicing in Tally Prime, explains how to register for e-Invoicing on the government e-Invoice portal, and highlights the minimum turnover requirement for businesses to start generating e-Invoices. It also provides information about setting up Tally Prime as a GSP (GST Suvidha Provider) for seamless integration.
What is e-Invoicing?
e-Invoicing is a system introduced by the Government of India under the GST regime to authenticate and validate B2B invoices electronically. Every invoice generated by a business meeting certain turnover criteria needs to be reported to the Invoice Registration Portal (IRP), which then issues a unique Invoice Reference Number (IRN).
Step 1: Minimum Turnover Requirement for e-Invoicing
Businesses with a turnover of ₹5 crore or more in any previous financial year since 2017-18 are required to enable and generate e-Invoices for B2B transactions. e-Invoicing is mandatory for:
- B2B invoices
- Exports
- Credit Notes and Debit Notes
For businesses below this threshold, e-Invoicing is optional.
Step 2: Enable e-Invoicing in Tally Prime
To enable the e-Invoicing feature in Tally Prime, follow these steps:
- Open Tally Prime and log in to your company.
- Press F11 (Features) from the Gateway of Tally.
- Select Statutory & Taxation.
- Set the option Enable Goods and Services Tax (GST) to Yes.
- Enable the option Set/Alter GST Details and press Enter.
- In the GST Details screen, navigate to e-Invoicing Applicable and select Yes.
- Set the Applicable from Date as per your business’s requirement.
- Specify the Invoice Registration Portal (IRP) details.
- Press Ctrl + A to save the settings.
Step 3: e-Invoicing Enablement on the Government Portal
Before you can generate e-Invoices in Tally Prime, you must register your business on the e-Invoice Government Portal:
- Visit the official e-Invoice Portal: einvoice1.gst.gov.in.
- Click on e-Invoice Registration and log in using your GSTIN.
- Fill out the required details, including your business name, address, and contact information.
- Submit the registration form.
- Once registered, log in to the portal using your Username and Password.
- You will receive API credentials needed for integrating the e-Invoicing system with Tally Prime.
Step 4: Create Tally Prime as a GSP (GST Suvidha Provider)
To simplify and automate the e-Invoicing process, you can set up Tally Prime as a GSP for direct integration with the government portal:
- Log in to the e-Invoice Government Portal: einvoice1.gst.gov.in.
- Go to the API Registration section.
- Select For GSP and click on Register.
- Choose Tally Solutions Pvt Ltd as your GSP.
- Submit your registration form.
- After registering, you will receive API credentials that you need to enter in Tally Prime for e-Invoice generation.
Step 5: Integrate e-Invoicing in Tally Prime using GSP
Once you've registered Tally Prime as a GSP, follow these steps to integrate and enable e-Invoicing:
- Open Tally Prime and go to the Gateway of Tally.
- Navigate to Accounts Info > Voucher Types > Sales Vouchers.
- While creating or editing a Sales Invoice, Tally Prime will automatically prompt for e-Invoice generation.
- Select Yes to generate an Invoice Reference Number (IRN).
- Tally Prime will send the invoice data to the government portal via the GSP and receive the IRN along with a QR Code.
- Print or export the invoice along with the IRN and QR code, as required by law.
Step 6: Generate e-Invoice for a Transaction in Tally Prime
After enabling e-Invoicing and integrating the system with Tally Prime, follow these steps to generate an e-Invoice for a B2B transaction:
- In Tally Prime, create a Sales Voucher or Export Invoice as usual.
- Enter details like GSTIN, Invoice Amount, and Tax Components.
- After completing the voucher, Tally Prime will prompt you to generate an e-Invoice.
- Select Yes to proceed.
- Tally Prime will generate the e-Invoice and retrieve the IRN from the government portal.
- The QR Code and IRN will be automatically displayed on the invoice for verification.
Advantages of Using Tally Prime for e-Invoicing
- Integrated Workflow: Tally Prime integrates with the government’s e-Invoice portal, allowing for easy and automated generation of IRNs.
- Error-Free Compliance: Automatic validation and generation of e-Invoices ensure compliance with GST laws.
- Real-time Invoice Reporting: Tally Prime sends invoices to the Invoice Registration Portal (IRP) and receives the IRN in real-time.
- Fast and Secure: By setting Tally Prime as a GSP, businesses can manage e-Invoicing securely and efficiently.
Need Help with Tally Prime and TSS?
Bison Infosolutions, an official partner for Tally Prime and Tally Software Services (TSS), offers:
- Genuine licenses for Tally Prime.
- TSS subscriptions for advanced features.
- Support for enabling and managing e-Invoicing and GSP setup.
For more details, reach out to Bison Infosolutions at:
- Email: info@bison.co.in
- WhatsApp: 7047947970
Conclusion
Enabling e-Invoicing in Tally Prime is essential for businesses with an annual turnover of ₹5 crore or more to comply with the GST regulations. By setting up Tally Prime as a GSP, you can automate the process, ensuring seamless e-Invoice generation and real-time compliance.
For any support related to Tally Prime, Tally Software Services (TSS), or e-Invoicing, contact Bison Infosolutions, your trusted partner for Tally solutions.
This article is structured as a knowledgebase resource to help users enable and manage e-Invoicing in Tally Prime, with Bison Infosolutions presented as the official partner for Tally products and services.