The Government of India rolled out the first phase of e-Invoicing implementation in October 2020. Businesses with turnover of more than INR 500 crores in any financial year from 2017-18 had to implement the e-Invoicing process mandatorily from 1 October 2020. Furthermore, in the second phase, Businesses with an annual turnover of more than INR 100 crores have to implement this new invoicing system from 1 January 2021. Tally has been managing the business of several small and medium-sized enterprises since ages. Understanding this, the team at Masters India has made efforts to integrate with the household name ‘Tally’ to provide a seamless experience for generating and printing e-Invoices with near to zero hassle directly from the Tally ERP. In this article, we will help you understand how you can Tally Invoicing and create debt note in Tally with Masters India:
Tally is known to be one of the simplest ERPs in business. To ensure that this simplicity is not compromised, we have developed a simple Tally Patch using Masters India’s APIs to cover the e-Invoicing, and E-Way Bill needs, end-to-end. As a one-time effort, this patch needs to be installed into the system of the users. Our team of well trained and experienced integrators will take care of the installation of the patch. Once the patch is installed, users can generate Tally Billing like e-Invoices and e-Way Bills (EWB) directly from their Tally ERP within seconds and a single click. The patch/APIs will do the required communications with the Invoice Registration Portal at the backend.
After the preliminary set-up of the Tally patch (by our experts), users can generate e-Invoices themselves. The process is simplified to bits so that there is no hand-holding required. However, in case any assistance is needed, we are always there! The 2 simple steps here are:
Step 1: Raise regular Tax Invoice on Tally and click on ‘Yes’ to accept the invoice.
Step 2: When the user selects ‘Yes’, a pop-up will be displayed. This pop-up asks the user if he/she wishes to generate e-Invoice. Click on ‘Yes’.
Once the user selects ‘Yes’, the APIs will take the required data from the ERP and transmit it to the IRP over a secured network. The IRN number, QR code and signed e-Invoice will be generated by the IRP (if details are valid) and sent back to the Tally ERP within seconds. The users do not have to do anything here as the entire process is automated.
Once the e-Invoice is generated, users can view or cancel the e-Invoice from the ERP itself. To view an e-Invoice: Open the desired document (Invoice) in Tally and click on ‘View E-Invoice’.
The e-Invoice (in Government prescribed format) in PDF format is downloaded. To view e-Invoice report and cancel e-Invoices:
Step 1: On the Tally Gateway, select ‘E-Invoice’.
Step 2: Click on ‘Uploaded E-Invoice’.
All the generated e-Invoices will be visible here. To cancel the invoice, under ‘Uploaded E-Invoice’ select the desired e-Invoice and click on ‘Cancel E-Invoice’ or Alt+C.
Here, the reason for the cancellation has to be entered.
Once the invoice is cancelled, it will be visible in the ‘Cancelled E-Invoice’ bucket.
We understand that financial data is sensitive. To ensure that the user’s privacy is maintained and the data is secured, Masters India has taken cautious steps. Some of these are: