E-Way bill is the short form of electronic Waybill that is considered to be a game-changer in history.
It is a document that has to be generated from the GST e-Way bill portal when goods are transported or shipped to the consignee. It should be mainly carried when transporting goods from one place to another when certain conditions are met. Continue to get deeper into GST E-Way bills and how to manage them in the ERP software.
What is a GST E-Way bill?
It is a unique bill/document generated electronically to ship goods from one place to another. E-bill has to be caused during the interstate or intrastate transportation of goods worth more than INR 50,000. The details should be uploaded on the GST software, which will then generate a unique E-Way bill. A unique e-way bill number (EBN) will be sent to the supplier, transporter, and recipient through the portal.
Situations that require generating the E-way bills all over again like
- When the transporter selects to transfer the goods from one vehicle to another, the outstanding bill generates.
- When multiple consignments are being transported, the transporter must mention a serial number of different E-way accounts.
- There might be chances of unexpected situations arising, and you have to go through the procedure all over again.
All the problems can be simplified when you manage your E-way bills using ERP software effectively.
- Consolidated invoices
Once you are done with generating GST E-way bills for individual invoices, you can group invoices. It can be done based on transport mode, vehicle number, and more. To make the transport life simple, the consolidated bill can be generated on the E-way portal.
- Quickly built an E-way bill number.
You have to enter all the mandatory details to generate the E-way bill. Once you fill them, the invoice is ready to create and upload to the E-way bill portal. The portal will automatically build an E-way statement with SSBNs.
- Generate an E-way bill at your convenience
There might be a situation when the goods are ready to be shipped during transportation, but the transport vehicle is not. In these cases, the transaction can be entered in ERP software that can be used to create the E-Way bill.
- Filter out the E-way compliant invoices
Invoice will be recorded at every stage of your value chain, which means a lot and a lot of invoices to manage. Managing will become extremely difficult to determine which of your invoice will require an E-way generation and which will not. ERP can rescue you, at this moment maintaining a record of all the invoices. It will also help you filter out the ones for which the E-Way bill is to be created.
- Always ensure to generate your E-way bill.
Just imagine, the financial year is ending, and your accounts department is under much work pressure. In this heavy pressure, they are a chance of forgetting to create the E-will bill. Without a proper E-way bill, there are no chances that the product will be delivered on time, and you will not be able to fulfil the promise you made to your customer. But you do need to worry about it because the ERP software will ensure that all the transactions for which the E-way bills are yet to be made are available in one place. So, by generating an E-way statement without fail, you will never miss on making an E-way bill.
Wrapping it up
GST E-way bills are becoming a necessary practice invoicing as they have no room for errors. There are many best Accounting Software in the market that you can use to get the best result.