Peppol Ready
Peppol Offers New Compliance Automation Opportunities

Peppol E-invoicing is a standardised digital way of sending and receiving invoice between the accounting systems of two parties. Peppol is the network that facilitates the exchange of this information digitally.

IMDA has implemented the nationwide E-Invoicing network on 9 January 2019 with certified Access Points and Solution Providers offering services to help businesses improve efficiency, reduce cost, enjoy faster payment cycles, access to new financing options and build a strong foundation for digitalisation. This network is an extension of the International Peppol E-Delivery Network allowing our enterprises to transact internationally with other linked companies.
Electronic invoicing or E-Invoicing allows direct transmission of invoices in structured digital format from one finance system to another resulting in faster payment.

Benefits of E-Invoicing
What does this mean for business owners like me?

The World Management Pte Ltd has been accepted by IMDA to be Peppol Ready.
We can offer SAP Business One and Sage 300 with the following ability

Receiving E-Invoices

Ability to receive E-invoices as per the IMDA standards and display them correctly

Sending E-Invoices

Ability to send E-invoices as per the IMDA standards

SMP Friendly

Ability to register user business on the platform to the Singapore’s Nationwide E-Invoicing Network’s Service Metadata Publisher (SMP)

User Management

Ability to locally store the Peppol ID of platform users (i.e. end user) customer or suppliers
Commonly Asked Questions
The Digital Resilience Bonus (DRB)
E-Invoicing Registration Grant (ERG)

The Digital Resilience Bonus (DRB) and E-Invoicing Registration Grant (ERG) are processed on a monthly cycle, all businesses who have met the eligibility criteria and whose data has been submitted by their solution providers before the processing cut-off period, will have their grant or bonus payment credited to their bank accounts using PayNow Corporate using UEN (without Suffix) within the same month. Processing starts within the first half of the month. Businesses who miss the current month payment cycle will have their payment processed in the following month.

The Digital Resilience Bonus (DRB)

What is the Digital Resilience Bonus (DRB)?

The Digital Resilience Bonus seeks to uplift the digital capabilities of a broad base of enterprises so that they can adapt to safe management practices after the circuit breaker period. As a pilot, the Bonus will be targeted at the Food Services and Retail sectors. There is a greater urgency for these sectors to digitalise and adapt quickly due to the front-facing nature of their businesses.
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Food Services and Retail enterprises that are incorporated on or before 26 May 2020 and have adopted pre-defined categories of digital solutions by 30 June 2021 can receive bonus payouts of up to $10,000, if they:
i. Adopt PayNow Corporate and PEPPOL e-invoicing; and
ii. Adopt the digital solutions in the required categories

The payout for Category 1 and 2 is $2,500 per enterprise per Category, and the payout for Category 3 is $5,000 per enterprise. Enterprises that fulfil all categories will receive $10,000. Solutions to adopt in addition to baseline tier
Category 1 (i) Accounting, (ii) HR/Payroll and (iii) Digital Ordering (Dine in/Takeaway)
Category 2 Online food delivery (via food delivery platforms or own online shopfront) or e-procurement
Category 3 Data mining and analytics

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Retail Solutions to adopt in addition to baseline tier
Category 1 (i) Accounting, (ii) HR/Payroll and (iii) Inventory Management
Category 2 e-Commerce
Category 3 Data mining and analytics

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What are the types of Food Services and Retail enterprises that qualify for DRB?

Food Services enterprises include restaurants, cafes, snack bars and food kiosks, bakeries, fast food outlets, food caterers, canteens, food courts, coffee shops and eating houses.
Retail enterprises include those in footwear, bags, clothing, furniture, jewellery, watches, cosmetics, hardware, pet supplies, toys, books, handphones and computer hardware.
• To view the full list of qualified SSIC for Food Services and Retail sectors, please visit the Digital Resilience Bonus webpage at www.imda.gov.sg/DRBonus.

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How do enterprises apply for the Digital Resilience Bonus (DRB)?

There is no need for enterprises to apply for the Bonus. IMDA will work with pre-approved vendors and platforms and automatically pay out the Bonus to eligible enterprises.

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I have not adopted any solution for any category under the DRB. What should I do to get myself started?

You can kick start your digitalisation journey with your preferred bank listed under the Digital Resilience Bonus webpage at www.imda.gov.sg/DRBonus#7. Your bank will help you set up a PayNow Corporate account, register on the Peppol e-invoicing network and get started with a suite of solutions that helps you improve your business productivity and competitiveness while becoming eligible for DRB payouts.

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I am currently using more than one solution that qualify for the same category. Which solution provider should I approach for DRB?

IMDA will be collecting usage information from all qualified solution providers before cross-checking the data internally to determine the enterprises that will receive the DRB payouts. For example, if you are using two qualified digital ordering solutions, both your solution providers will send your usage information to IMDA.

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What is Peppol e-invoicing? How do I register on the e-invoicing network?

You need to have a Peppol-ready digital solution (e.g. accounting/ERP solution) and activate the Peppol e-invoicing feature in the solution. There are free solutions available.

 

Please visit www.imda.gov.sg/einvoice for more information.

 

• You can also approach your preferred bank listed at www.imda.gov.sg/DRBonus#7 for guidance on adopting a Peppol-ready solution and registering on the nationwide e-invoicing network.

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How do I know if my digital solution qualifies for the Digital Resilience Bonus (DRB)? If the solutions that I am using fall under the required categories but are not listed on the IMDA website, how do I get myself qualified for the DRB?

You can refer to the Digital Resilience Bonus webpage at www.imda.gov.sg/DRBonus to check whether your solution qualifies, or check with your solution provider. Digital solutions supported under the SMEs Go Digital programme, E-commerce Booster Package and Food Delivery Booster Package automatically qualify for DRB.

If your solution is not listed on the Digital Resilience Bonus webpage, your solution provider can seek qualification for the DRB via the SMEs Go Digital programme’s pre-approval process at this link.

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How do solution providers get their solutions pre-qualified for the Digital Resilience Bonus (DRB)?

Solution providers seeking to qualify their digital solution for the DRB can now do so via the SMEs Go Digital programme’s pre-approval process at this link.

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What are the criteria for the type of solutions to be pre-qualified?

All solutions must provide cloud-based, mobile-based or web-based access. In addition, they need to meet the functional requirements specified on the Digital Resilience Bonus webpage at www.imda.gov.sg/DRBonus.

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When can I receive the payment? How can I check if I have been paid?

The first enterprises that adopt the pre-defined solutions will receive their first Bonus payouts in August. Those that adopt later will receive their Bonus payouts in later months.

IMDA will have a monthly cycle of assessing enterprises’ eligibility for the Bonus and making the Bonus payouts.

• Assessment of eligibility for the DRB payouts is based on whether an enterprise has used the solution, regardless of the date when the solution was deployed.
• The Bonus payout will be paid through your vPayNow Corporate account. You can check your account statement to see if you have been paid.

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If I have more than one PayNow Corporate accounts, which account will the DRB payout be credited to?

The DRB payouts will be credited into the PayNow Corporate account without a suffix, based on your UEN.

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If I get paid for fulfilling Category 1, and I subsequently qualify for Category 2, will I receive the second payout upon fulfilment of Category 2?

Yes, the Bonus for each category will be extended to you if you adopt all the solutions in that category. The total payout for each enterprise upon fulfilment of all three categories is $10,000.

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Must the solutions adopted be new? If I already have existing solutions under the pre-defined categories, am I eligible for the Digital Resilience Bonus (DRB)?

Yes, enterprises are eligible for the Digital Resilience Bonus (DRB) as long as the adopted solutions fall under the respective categories and are listed on the Digital Resilience Bonus webpage at www.imda.gov.sg/DRBonus.

• Assessment of eligibility for the DRB payouts is based on whether an enterprise has used the solution, regardless of the date when the solution was deployed.

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How is this Digital Resilience Bonus (DRB) different from the Productivity Solutions Grant (PSG)? If I received PSG support for my digital solution, can I still receive the Digital Resilience Bonus (DRB)?

As a grant, the Productivity Solutions Grant (PSG) helps to offset the cost of buying a preapproved digital solution under the SMEs Go Digital programme. As announced in the Resilience Budget, the maximum support level for PSG has been raised from 70% to 80% from 1 Apr 2020 to 31 Dec 2020.

 

The Digital Resilience Bonus (DRB) is an additional incentive for digitalisation during this COVID-19 period. It provides a one-time cash payout for enterprises that adopt a pre-defined set of solutions to uplift their digital capabilities so that they can adapt to safe management practices after the circuit breaker period and be more productive and competitive. The solution adopted does not have to be a PSG-supported solution.

 

• Enterprises can receive the DRB as long as the solutions adopted fall under the respective categories and are listed on the Digital Resilience Bonus webpage at www.imda.gov.sg/DRBonus. For enterprises who have adopted a solution with PSG support, they are still eligible to receive the DRB as long as the solution comes under the DRB list.

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E-Invoicing Registration Grant (ERG)

What is e-invoicing? How do I register on the network?

Please visit www.imda.gov.sg/einvoice to find out more about the nationwide e-invoicing network and how you can participate. SMEs can join the nationwide e-invoicing network by subscribing to Peppol-ready solutions approved by IMDA.

Please visit www.imda.gov.sg/einvoice to check whether your accounting/ERP solutions are Peppol-ready, and sign up one if you don’t already have an accounting or ERP solution.

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What is this grant about?

The one-time grant of $200 is to encourage every organisation to join the nationwide e-invoicing network early and benefit from operational efficiency and reduced cost via digitalisation. It will be used to offset the small incremental cost for in adopting Peppol-ready accounting/ERP solutions.

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Why must the organisation have a PayNow Corporate without suffix to receive the payout? Why can't the organisation receive the payout using other modes?

IMDA would like to encourage an easy and common payout mechanism based simply on UEN for organisations. This will encourage a streamlined process and minimise errors.

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How does an organisation claim this grant? When can the organisation get the grant? Who will the organisation get it from?

There is no need to claim the grant. The first 50,000 organisations who successfully register on the network on or before before 31 December 2020 will automatically receive the payout via PayNow Corporate. Should the attempt to send the payment to the PayNow Corporate account fail, we will make 2 more attempts in the subsequent 2 months. This will give the
organisation sufficient time to register their PayNow Corporate account (without suffix).

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Why only companies registered by 25 March 2020 are eligible for the grant?

New businesses can already benefit from Start Digital programme where all the accounting solutions have e-invoicing built in

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Why is the grant only for organisations with UENs? Why can’t a self-employed person without a UEN claim this grant?

Only an organisation with a valid UEN can register on the nationwide e-invoice network. Hence only organisations with UENs qualify for this grant.

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Who qualifies for this grant of $200? Is my organisation eligible?

The grant is applicable to organisations who have a valid and active Unique Entity Number (UEN) which will be used for the registration on the network. UENs eligible for the grant include UENs of businesses and local companies registered with ACRA and entity-type UENs; exclude foreign military units; Government and Government-Aided schools; high commissions, consulates, international organizations registered with MFA; PA Services, Grassroot Units;

Government agencies and bodies performing public duties.
To qualify, the organisation needs to be incorporated by 25 March 2020 and registered on the network on or before 31 December 2020 to receive the $200 grant via PayNow Corporate.

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When can I receive the payment?

The team is working on a monthly payment cycle and if you are unable to check the status when you entered your UEN, please do check back again at the end of the month. You can check your payout status on the E-Invoicing Registration Grant (ERG) Payout Status page here.

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How can I check if I have been paid?

You can check your bank account for the payment a month after registering. You can also check the payment status here.

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Does it cost anything for my organisation to register?

There are several options to join the nationwide e-invoicing network depending on the requirement of the organisation. There is a list of Peppol-ready solutions providers approved by IMDA to cater for the different needs of the organisation. There are also free solutions for those who need only basic features. Visit www.imda.gov.sg/einvoice to find out more.

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What if the organisation changes his E-invoicing service provider after getting the $200 grant?

The organisation will not be required to return the $200 grant if he changes his service provider.

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My organisation is already on the nationwide e-invoicing network. Do we get to enjoy the grant?

Yes, as long as you meet the criteria.

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Strategising Your Operations in the Global Game begins with First Contact.

TWM takes the time to analyze and understand about the issues at your organization before recommending a solution that fits. We provide professional advice during the initial discussion to ensure successful implementation. Or Call us for a Chat at +65-67419198.

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