FAQs

• What is InvoiceNow?

  InvoiceNow, unlike paper invoice, allows direct transmission of invoices in structured digital format from one finance system to another using the Nationwide e invoicing network which is based on Peppol, allowing for the invoice to be flipped to E-payments such as Paynow directly.
  
  

• I am already using PDF E-Invoice, why is InvoiceNow different?

  In a common business scenario today, a PDF e-invoice is sent to the recipient organisation by email. This is a single-sided operation requiring your recipient to re-enter the details of the invoice into their own accounting system (e.g. accounts payable). A more complete e invoicing solution should include the transmission of data from supplier system to buyer system without human intervention and potentially allow for the InvoiceNow invoice to be paid seamlessly.

• Who can register for a Peppol ID/InvoiceNow on behalf of the company?

  Any company authorised personnel can register for a Peppol ID/InvoiceNow on behalf of the company. However, you can only be registered with one Peppol Access Point provider at any one time.

• Where can I find my business partner's Peppol ID to send E-Invoices?
  1. Go to Peppol official website for directory search: www.peppoldirectory.sg
  2. Key in the Business Name/UEN number of your business partner in the search box.
  3. Your business partner’s Peppol ID will be displayed.
• I am already registered with one Peppol Access Point. Can I register with the other?

  If you like to register with another Peppol Access-Point provider, you will need to de-register with your existing provider before registering with your preferred provider.

• Is InvoiceNow e invoicing different from Peppol e invoicing?

  No, InvoiceNow e-invoicing is based on the Peppol business documents standard and operates over the network on Peppol and allowing enterprises to digitally transact with other linked companies on the nationwide e invoicing network.

• How can InvoiceNow help save cost?
  1. Faster payment cycles of Invoices due to the simplification of Invoice to Payment processes as compared to paper invoices. Several banks are working on solutions that allow users to directly flip an InvoiceNow e-invoice to an E-Payment.
  2. Reduction of tedious and time-consuming manual processes (estimated $8 per invoice according to a study commissioned by IMDA)
  3. Reduction of errors and rectification costs (estimated to affect 3% of paper invoices and costing as much as S$72 to rectify, according to a study commissioned by IMDA).
  4. Reduction of storage, retrieval, and delivery costs
• How is the government helping end-user companies? How does this actually benefit them?

  Infocomm Media Development Authority (IMDA) has put in placed the nationwide e invoicing initiative & peppol framework with open and international trade standards for companies to adopt. Companies that adopt the e-invoicing network stand to gain from business efficiency, smoother invoicing and faster payment cycles. IMDA has also certified Access Points (APs) who will assist the end-user companies in getting connected through a variety of methods to meet the different digitalisation status of each company. By providing choices and making it easy for end-user companies to adopt e-invoicing through the open standard, more can come on board the network and gain from it early.

• If my supplier and/or client is not on the network, will I still enjoy the benefits?

  To benefit from the network, users (i.e. senders and receivers of invoices) must be registered on the peppol e delivery network. Just like emails, there’s a need for each to be registered and have a PeppolID that partners can send InvoiceNow e-invoices to and receive e invoices.