SAP Business One Add-On: GST E-Invoicing

Starting in 2020, GST e-invoicing in India has undergone a sea of changes. Large companies with an annual aggregate turnover of over INR 500 crore were the first group, but the subsequent regulations effective from April 2021 and April 2022 extended the same to those with INR 50 crore and INR 20 crore turnovers respectively. After that, anywhere from October 2022 to January 2023 businesses having turnovers of INR10 Crores and INR05 crores were required to comply.

The changeover was not easy, especially for Micro, Small and Medium Enterprises (MSMEs) because they did not have software that could be used in their operations. Till now there have been many ERP systems without built-in e-invoicing capabilities hence requiring extra funds on compatible software.

SAP Business One using organizations gained competitive advantage due to its flexibility as well as seamless integration with third-party add-ons. Among this list stands SAP Business One’s GST One.

What is GST One?

GST One is an add-on for SAP Business One that enables GST e-invoicing and e-way billing. It integrates seamlessly with the software to allow for B2B e-invoice and e-way bill generation along with IRN, customizable templates, bulk operations, reconciliation and more. It automates these processes within SAP Business One.

Key Features & Benefits of SAP B1’s GST One:

1. GST Reconciliation: This ensures accurate invoices containing unique identification numbers that reduce mismatches and simplify reconciliation.
2. One-Click Generation: Easily generate e-invoices and e-way bills directly from SAP Business One system with no manual entries.
3. GST Number Verification: Checking customer’s or supplier’s addresses or verifying their GST numbers are helpful in improving compliance.
4. Seamless Integration: Integrates smoothly into SAP Business One systems without disturbing ongoing ERP systems.

Prominent Advantages of SAP B1 + GST One:

1. Error Reduction: It limits the mismatches and duplication mistakes for being compliant with regulatory requirements.
2. Standardized Formats: Makes it compatible with different systems thereby enhancing interoperability.
3. Transparent Recordkeeping: It maintains an unbroken chain of e-invoices, facilitating transparency and enabling auditability.
4. Compatibility: This is specifically made for SAP Business one, thus there is no need to migrate the ERP system.

Conclusion:

To comply with regulatory regulations regarding GST e-invoicing, one can use SAP Business One with GST One instead of other systems available in the market. The best alternative for businesses that are looking for an ERP solution which will flawlessly blend into GST needs is to consider using SAP Business One integrated with GST One.

For more information regarding SAP Business One ERP and SAP Business One’s GST one, reach out to SoftCore Solutions — A certified SAP B1 Gold partner in Bangalore.

SoftCore Solutions is a leading SAP Business One Partner. We help SMBs in managing their operations efficiently. Industries like automotive, food and beverage, pharmaceutical, electronics etc. who are looking for a budget friendly solution can consider SoftCore Solution for the implementation of an ERP system with GST one benefit. Essential business processes like inventory, accounting, sales and more can be carried out with SAP B1 software.