E-Invoicing Registration Grant

E-Invoicing Registration Grant

To promote digitalisation amongst businesses, IMDA and Enterprise Singapore have partnered together to launch the E-Invoicing Registration Grant. As more companies are exploring digital solutions to enable their employees to work remotely, this grant will directly aid companies to provide for e-invoicing features on their existing or new solutions, so that their finance team can still perform efficiently while on-the-go. This will greatly enhance the entire payment ecosystem for businesses as a whole.

 

How much is the grant?

There will be a one-time payment of $200 for the first 50,000 companies that subscribe to this nationwide e-invoicing network. The first registration to the network must be made before 31 Dec 2020.

How to qualify?

To qualify for this grant, companies will need to be incorporated before 25 Mar 2020. No application is required for the grant. Successful companies will receive the $200 payment automatically via PayNow Corporate.

 

Qualified Software for E-invoicing (Peppol-Ready)

Companies can register to the e-invoicing network simply by subscribing to Peppol-ready solutions (eg. Xero, ABSS or Deskera) that are approved by IMDA.

 

If you have yet to own any e-invoicing software, you may consider 2 of the most popular e-invoice ready software solutions in Singapore, ie. 

 

  1. Xero cloud accounting software 
  2. ABSS on-premise accounting software (fka MYOB)

 

If you are already a current user of ABSS, simply upgrade your ABSS version to enjoy the convenience of e-invoicing and claim this E-Invoicing Registration Grant too. 

 

There are also 2 more government grants where you can apply to defray the cost of software, which includes 12 months of software subscription, system setup, and personalized training. 

 

  1. Productivity Solutions Grant (up to 80% funding)
  2. Sills Future Enterprise Credit (up to 90% funding)

 

How to register?

If you already own either Xero or ABSS, please click the links below for the step-by-step registration guide,

 

  1. Xero Cloud Accounting Software
    https://361dc.com/pages/xero-guide-to-set-up-e-invoicing
  2. ABSS Accounting Software
    https://361dc.com/pages/abss-guide-to-set-up-e-invoicing