AutoCount E-invoice:
How to Handle Interim Relaxation Period?

Understanding Interim Relaxation Period

The Interim Relaxation Period temporarily relieves businesses from stringent e-invoice submission requirements, enabling a smoother transition to full compliance. For those looking to handle interim relaxation period in AutoCount, this phase provides opportunities to streamline operations and manage e-invoice transactions efficiently. This guide focuses on how AutoCount handles e-invoicing during this period.

AutoCount E-Invoice Interim Relaxation Period

This video explains the Interim Relaxation Period for standard, consolidated, and self-billed e-invoices, providing clarity on compliance requirements and transitional provisions during this phase.

Key Features of the Interim Relaxation Period

Consolidated E-Invoice Submission

Standard invoices, cash sales, credit notes, debit notes, and other transactions are merged into a single consolidated e-invoice.
As a result, businesses can save time by avoiding the need for individual standard invoice submissions.
Individual standard invoice submissions are not required.

Temporary Relaxation of Compliance Standards

The IRBM will not prosecute non-compliance if consolidated invoices are submitted within 7 days after month-end.
In addition to the relaxed compliance standards, businesses can also optionally share validated invoices with buyers.
Businesses can optionally share validated invoices with buyers.

How AutoCount Handles E-Invoice Transactions During the Interim Period?

Enable Interim Relaxation period

Open AutoCount Accounting (version 2.2.22.30 or newer recommended).
Navigate to e-Invoice tab > e-Invoice Setting.

Tick Enable e-Invoice.
Tick Allow Interim relaxation period until: > Click OK

💡 Note: AutoCount will automatically assigned the interim relaxation period based on your start date which is 6 months.

Managing E-Invoices in AutoCount During the Interim Period

Automatic Consolidation

AutoCount consolidates the following transaction types into a single e-invoice. In this context, AutoCount simplifies the process by automatically consolidating multiple transaction types.:

Standard invoices.
Cash sales.
Credit notes and debit notes.
Staff bills.

Auto-Tick Feature

Ensures that it automatically includes all relevant transactions containing TIN (Taxpayer Identification Number) information in the consolidated invoice.

Disabling Standard Invoice Submission

If individual e-invoice submissions are unnecessary, AutoCount allows users to disable them:

Open the invoice module and locate the Submit E-Invoice checkbox.
Untick the checkbox to prevent the invoice from being sent for individual validation.
Ensure all data is included in the consolidated invoice instead.

Overall, this feature provides significant flexibility for businesses managing high transaction volumes. This function is particularly useful for businesses that prefer bulk submissions over individual validations.

Key Benefits of Using AutoCount During the Interim Period

Accuracy

Automatic inclusion of TIN numbers and consolidated reports reduce errors.

Efficiency

Bulk management of invoices saves time and eliminates repetitive tasks.

Compliance

Ensures adherence to IRBM regulations, even during transitional phases.

Conclusion

AutoCount equips businesses with tools to navigate the Interim Relaxation Period seamlessly. By automating e-invoice consolidation, disabling unnecessary submissions, and ensuring compliance with IRBM guidelines, AutoCount simplifies the transition to full e-invoicing. Leverage these features to stay ahead and compliant during this crucial phase. Ultimately, AutoCount’s robust tools ensure that businesses can navigate the Interim Relaxation Period with ease and confidence.

Frequently Asked Questions

How Does AutoCount Automate E-Invoice Consolidation?

AutoCount combines multiple transaction types (e.g., cash sales, credit notes) into a single consolidated e-invoice.

What Happens if the Consolidated Submission Is Late?

Non-compliance during the interim period is not penalized, provided consolidated invoices are eventually submitted.

Can AutoCount Handle Bulk Transactions?

Yes, AutoCount’s bulk processing tools are designed for high transaction volumes.

What Are the Specific Steps for IRBM Submission?

Consolidated invoices must be submitted via the IRBM portal within 7 days after month-end.

Is Manual Review of Consolidated Invoices Necessary?

While AutoCount automates much of the process, a final manual review ensures accuracy.

Are There Penalties After the Interim Period?

Once the interim period ends, businesses must fully comply with e-invoice submission standards.

AutoCount Accounting Features

Advanced Feature

Basic Feature

AutoCount Cloud Accounting