.svg)
Put compliance on auto-pilot with automated invoice checks
Run 100+ invoice compliance and validation checks to ensure each invoice is legitimate and compliant with e-invoicing, TDS, GST and more
Talk to Sales
.svg)
Safe and secure. Compliant with RBI guidelines & IndAS
Talk to Sales
Safe and secure. Compliant with RBI guidelines & IndAS
Trusted by more than 3000 companies
The Problem Today
What looks like a compliant invoice may not be one
Just because a document looks like an invoice, doesn’t make it one that’s compliant. Vendors could bill via another GST number, mistakenly issue a different e-invoice or be non-compliant with Section 206 of IT Act
Compliance is ignored
Invoices are rarely checked for compliance issues - struck off PANs, incorrect GST, MSME,
e-invoice checks and more.
No central database
Invoices and vendor data is distributed, and often inaccessible when required for audits and future reference.
Unreliable OCR systems
Legacy OCR scanning only offers about 65% accuracy, reducing trust in the system and leaving invoices to be checked manually.
The Problem Today
AP teams spend 100s of hours booking invoices
This is not only a waste of time and productivity, but many a times the invoice booking process has compliance loopholes, uses outdated technology and there is no central storage system for audit readiness and future reference.
Compliance is ignored
Invoices are rarely checked for compliance issues - struck off PANs, incorrect GST, MSME,
e-invoice checks and more.
No central database
Invoices and vendor data is distributed, and often inaccessible when required for audits and future reference.
Unreliable OCR systems
Legacy OCR scanning only offers about 65% accuracy, reducing trust in the system and leaving invoices to be checked manually.
No way to check compliance
AP teams have no capability to check for the legitimacy of the invoices on a real-time basis at scale
Don’t tap into new APIs
Existing tools don’t tap into new age government APIs like GST or e-invoicing to check for the invoice compliance status
No vendor master connection
Consequently, there’s always a chance that a vendor has billed via another GST number that’s not in the vendor master
Explore Invoice compliance checks built for large Indian enterprises
e-Invoicing Checks
Verify each invoice against 100+ data points uploaded to the e-invoicing IRP Portal
Check each invoice against data uploaded to the Invoice Registration Portal. Match GST details, vendor details as well as line items mentioned in the invoice
.webp)
GST Portal Checks
Check if your vendor’s GST is active, and if they fall under RCM category
Check in realtime the status of your vendor’s GST number. Also check if they fall in the RCM category, so you can take ownership for the GST payment
Vendor Master Check
Check the invoice GST against your vendor master data. Make reconciliation a breeze
Ensure you’ve been billed under the right GST number, from the correct geographical location in order to avoid issues with payment and GST reconciliation later
PAN Check - Section 206 IT Act
Deduct the right TDS amount by checking your vendor’s compliance with Sec. 206
Do a real time check to ensure your vendors have filed their IT returns. Be prompted to deduct 2x the TDS amount when there is non-compliance
ERP & WMS Sync
Powerful ERP & WMS Sync for all your vendor invoices. Works with all ERPs
Sync your invoice compliance data in real time with SAP ECC, SAP B1, S4 Hana, Oracle, MS Dynamic and many more ERPs
.webp)
Explore our entire suite of Corporate Finance Automation Products
.svg)
.svg)
.svg)
.svg)
.svg)
Unlock the potential of your finance team & boost productivity 10x. Let us show you how.
Book a free demo
FEATURED IN
An overview of invoice compliance checks and their impact on your business
Invoice compliance checks ensure invoices meet all legal, regulatory, and contractual standards. These checks involve validating mandatory details such as seller and buyer information, invoice date, and item descriptions. Accurate quantities, prices, and adherence to tax laws like VAT or GST are crucial. Compliance with electronic invoicing guidelines, including e-invoicing validation via the E-Invoice Registration Portal (IRP), is essential.
Automated invoice checks and real-time data validation enhance accuracy. Tax compliance automation, including TDS verification and GST number validation, prevents errors. ERP integration and accounts payable automation streamline processes, ensuring invoice legitimacy and financial operations efficiency. Regular compliance checks, including vendor master data reconciliation and invoice fraud prevention, mitigate compliance risk and improve AP team efficiency. Utilizing compliance reporting tools and a robust compliance management system aids in maintaining financial health and adhering to tax regulations.
Automated invoice checks and real-time data validation enhance accuracy. Tax compliance automation, including TDS verification and GST number validation, prevents errors. ERP integration and accounts payable automation streamline processes, ensuring invoice legitimacy and financial operations efficiency. Regular compliance checks, including vendor master data reconciliation and invoice fraud prevention, mitigate compliance risk and improve AP team efficiency. Utilizing compliance reporting tools and a robust compliance management system aids in maintaining financial health and adhering to tax regulations.
Implementing Effective Invoice Compliance Checks
1. Automate the Process: Use invoice automation software with built-in compliance features. This ensures automated invoice checks, real-time invoice validation, and seamless ERP integration, enhancing GST compliance and financial operations.
2. Stay Updated on Regulations: Regularly review tax regulations and electronic invoicing standards. This includes keeping up with Section 206 IT Act, GST under RCM, and updates on the E-Invoice Registration Portal (IRP) to ensure accurate GST number validation.
3. Train Your Team: Provide training on compliance, including invoice legitimacy and TDS verification. Educate staff on creating accurate invoices and understanding vendor compliance status.
4. Perform Regular Audits: Conduct internal audits to detect discrepancies and verify TDS certificates. This helps in invoice fraud prevention and ensures accurate invoice data synchronization.
5. Seek Professional Advice: Consult with legal and accounting experts to align your practices with tax regulation adherence and compliance management systems, ensuring robust compliance risk mitigation.
2. Stay Updated on Regulations: Regularly review tax regulations and electronic invoicing standards. This includes keeping up with Section 206 IT Act, GST under RCM, and updates on the E-Invoice Registration Portal (IRP) to ensure accurate GST number validation.
3. Train Your Team: Provide training on compliance, including invoice legitimacy and TDS verification. Educate staff on creating accurate invoices and understanding vendor compliance status.
4. Perform Regular Audits: Conduct internal audits to detect discrepancies and verify TDS certificates. This helps in invoice fraud prevention and ensures accurate invoice data synchronization.
5. Seek Professional Advice: Consult with legal and accounting experts to align your practices with tax regulation adherence and compliance management systems, ensuring robust compliance risk mitigation.
Benefits of Invoice Compliance Checks
Enhanced Financial Accuracy
Invoice compliance checks, including real-time invoice validation and automated financial checks, ensure invoices are accurate and meet regulatory standards. This minimizes errors and discrepancies, resulting in reliable financial records and improved reporting.
Reduced Risk of Fraud
Comprehensive review and validation of invoices help detect and prevent fraudulent activities. This strengthens invoice fraud prevention, protects financial resources, and maintains stakeholder trust.
Improved Cash Flow Management
Efficient compliance checks streamline invoicing processes, facilitating timely and accurate payments. This enhances cash flow management, supports prompt financial obligations, and aids in planning for future growth.
How to Build Large-Scale Enterprises
1. ERP & WMS Integration: Leverage ERP integration and Warehouse Management Systems (WMS) to synchronize vendor invoices seamlessly. This ensures compatibility across various ERP systems and boosts overall efficiency.
2. GST and RCM Verification: Verify the vendor’s GST status and check if they are under the Reverse Charge Mechanism (RCM) category. This ensures accurate tax handling and compliance with GST regulations.
3. Seamless GST Reconciliation: Match invoice GST with vendor master data to streamline GST reconciliation processes, resolve discrepancies, and ensure accurate GST compliance.
4. Accurate TDS Deduction: Ensure compliance with Section 206 IT Act for accurate TDS deductions. Verify TDS certificates to avoid potential tax issues and ensure proper tax deduction at source (TDS).
‍5. Verify Against E-Invoicing IRP Portal: Cross-check each invoice against over 100 data points on the e-Invoicing IRP Portal. This guarantees real-time invoice validation, accuracy, and compliance with electronic invoicing standards.
2. GST and RCM Verification: Verify the vendor’s GST status and check if they are under the Reverse Charge Mechanism (RCM) category. This ensures accurate tax handling and compliance with GST regulations.
3. Seamless GST Reconciliation: Match invoice GST with vendor master data to streamline GST reconciliation processes, resolve discrepancies, and ensure accurate GST compliance.
4. Accurate TDS Deduction: Ensure compliance with Section 206 IT Act for accurate TDS deductions. Verify TDS certificates to avoid potential tax issues and ensure proper tax deduction at source (TDS).
‍5. Verify Against E-Invoicing IRP Portal: Cross-check each invoice against over 100 data points on the e-Invoicing IRP Portal. This guarantees real-time invoice validation, accuracy, and compliance with electronic invoicing standards.
Make Invoice Compliance Checks Easier with Cashflo
1. Streamlined Invoice Compliance: Cashflo automates compliance by integrating with the E-Invoice Registration Portal (IRP) for real-time validation and accurate GST compliance. Effortlessly reconcile discrepancies and ensure financial accuracy.
2. Effortless Compliance Checks: Simplify compliance with automated invoice checks, precise GST and TDS verification, and seamless ERP integration, enhancing AP team efficiency.
3. Your Easy Compliance Solution: Leverage Cashflo’s automated data and e-invoicing validation for accurate GST and TDS deductions, and smooth ERP integration for efficient processing.
4. Enhanced Compliance Management: Optimize with Cashflo’s automated checks, accurate GST validation, and effective ERP synchronization to improve financial management and reduce risks.
2. Effortless Compliance Checks: Simplify compliance with automated invoice checks, precise GST and TDS verification, and seamless ERP integration, enhancing AP team efficiency.
3. Your Easy Compliance Solution: Leverage Cashflo’s automated data and e-invoicing validation for accurate GST and TDS deductions, and smooth ERP integration for efficient processing.
4. Enhanced Compliance Management: Optimize with Cashflo’s automated checks, accurate GST validation, and effective ERP synchronization to improve financial management and reduce risks.
Essential Modules for Effective Invoice Compliance
Cashflo’s invoice compliance system streamlines financial operations with modules for comprehensive GST compliance, including accurate GST number validation and real-time checks via the E-Invoice Registration Portal (IRP). It automates TDS verification and adheres to Section 206 of the IT Act. Integrated e-invoicing validation facilitates data synchronization and compliance with electronic invoicing standards. The platform also supports RCM compliance, invoice legitimacy checks, and vendor master data reconciliation for effective accounts payable automation. Key features include automated invoice checks, digital verification, and real-time data validation, with ERP integration enhancing AP team efficiency and ensuring robust compliance monitoring and risk mitigation.
Frequently Asked Questions
What are invoice compliance checks?
.svg)
How can automated invoice checks improve my business?
What is the role of the E-Invoice Registration Portal (IRP) in compliance?
Why is GST compliance important in invoice processing?
How does ERP integration benefit invoice compliance?
What is the Reverse Charge Mechanism (RCM) and why is it important?
How can regular audits help with invoice compliance?
What are the benefits of using compliance reporting tools?
Power your corporate finance team with CashFlo
Speak to an expert from our team to see how CashFlo can help you automate and elevate your corporate finance function
Book a free demo
FEATURED IN
FEATURED IN
