A Complete Guide to InvoiceNow in Singapore: What It Is, How It Works & Why It Matters for Your Business
Introduction
If you're running a business in Singapore—whether it’s a lean startup or a large enterprise—you’ve probably heard of InvoiceNow. As part of Singapore’s nationwide digitalization push, InvoiceNow offers a smarter, faster, and more efficient way to send and receive invoices.
As Singapore advances its digital economy, e-invoicing is quickly becoming the new standard for business transactions. At the forefront of this transformation is InvoiceNow—a nationwide e-invoicing framework powered by the InvoiceNow-Ready Solution (previously known as Peppol-ready solutions). It allows businesses to send and receive invoices directly between accounting systems, eliminating the need for printed documents, manual data entry, or emailed PDFs.
But that’s just the beginning.
For GST-registered companies, Singapore’s GST InvoiceNow initiative builds on this by enabling the automatic creation and exchange of IRAS-compliant tax invoices. This helps businesses stay fully compliant while enjoying the benefits of automation and digitalization.
Whether you're a growing SME or a large enterprise, InvoiceNow and GST InvoiceNow together offer a powerful way to streamline invoicing, reduce errors, and ensure regulatory compliance.
In this guide, we’ll cover:
- What InvoiceNow is
- How it works
- Benefits for your business
- Step-by-step on how to implement it
What is InvoiceNow?
InvoiceNow is a government-supported initiative that enables direct e-invoicing between businesses through the InvoiceNow-Ready Solution (previously known as Peppol-ready solutions). Instead of sending invoices via email, InvoiceNow allows you to transmit invoice data instantly from your system to your customer’s system.
How It Works:
- Your accounting or ERP system connects to the InvoiceNow-Ready Solution.
- Your business is identified using your UEN (Unique Entity Number).
- You generate an invoice and enter your client’s UEN.
- The invoice is securely delivered into your client’s system.
Key Benefits
- Faster Payments – Invoices reach your customers instantly.
- Fewer Errors – Automated data entry = fewer mistakes.
- Lower Costs – No paper, printing, or mailing costs.
- Stronger Cash Flow – Real-time invoice tracking helps with financial planning.
- Future-Ready – More government agencies and enterprises are adopting e-invoicing.
InvoiceNow & GST Compliance in Singapore
One of the standout features of InvoiceNow is that it's GST-compliant by design.
For GST-registered businesses, Singapore law requires invoices to include key information such as the GST registration number, invoice date, itemized tax amounts, and total including GST. InvoiceNow ensures all these fields are included and transmitted in a secure and standardized format.
Why This Matters:
- Automated Compliance – IRAS-compliant tax invoices are generated automatically.
- Improved Accuracy – Reduces manual calculation and formatting errors.
- Audit-Ready – Digital records are stored and easy to retrieve for audits or GST filings.
How to Implement InvoiceNow
Step 1: Check if your accounting software is InvoiceNow-Ready Solution
→ InvoiceNow-ready-solution-provider listed by IMDA
Step 2: Register your UEN with a Peppol Access Point Provider
Most software will guide you through this.
Step 3: Start sending e-invoices
Key in the customer’s UEN, and you’re set.
Step 4: Train your finance team
Help them get comfortable with the new workflow.
Bonus Step: Apply for government grants
You may be eligible for the Productivity Solutions Grant (PSG) to help with costs.
Conclusion
InvoiceNow isn’t just a digital upgrade—it’s a smarter, faster, and more compliant way to handle invoicing. Whether you’re a small business trying to reduce overheads or a large enterprise aiming to modernize processes, InvoiceNow provides the speed, accuracy, and regulatory support you need.
Ready to take the next step? Start by checking if your software is InvoiceNow-Ready Solution and get your UEN registered today!