Singapore businesses must navigate two overlapping systems: InvoiceNow, the national e-invoicing network built on the Pan-European Public Procurement Online (Peppol) network, and requirements set by the Inland Revenue Authority of Singapore (IRAS). InvoiceNow moves invoice data directly between accounting systems instead of exporting it as a PDF or paper document. IRAS is gradually requiring businesses registered for goods and services tax (GST) to also use it for tax reporting.

Below, we’ll explain how the e-invoicing network works, the benefits it delivers beyond compliance, and what a business needs to do before connecting to it.

Key takeaways

• InvoiceNow moves invoice data directly between accounting systems using a four-corner model, which removes manual entry on both ends.

• IRAS is phasing in a requirement for GST-registered businesses to transmit invoice data through the network, starting with new voluntary registrants.

• To adopt InvoiceNow, you’ll need to confirm software compatibility, register a Peppol ID, and test with a real trading partner.

What is e-invoicing?

E-invoicing is the direct exchange of invoice data between a buyer’s and seller’s software in a format the receiving system can read without manual data entry. An e-invoice arrives as structured data, commonly Universal Business Language (UBL) XML, and flows directly into the recipient’s accounting software, field by field.

What is InvoiceNow in Singapore?

InvoiceNow is Singapore’s nationwide e-invoicing network that’s built and run by the Infocomm Media Development Authority (IMDA). Launched in 2019, it’s one of the first fully operating Peppol-based e-invoicing networks outside Europe.

Peppol started as a framework for standardizing how government agencies and businesses exchange procurement documents. Singapore adapted it for a broader business audience, and IMDA became the country’s Peppol Authority. It sets local rules, accredits access point providers, and keeps the network running day-to-day.

A business connected to InvoiceNow gets a Peppol ID tied to its Unique Entity Number (UEN). This acts like an address the network uses to route invoices correctly, the same way an email address tells a mail server where to send a message. Once you have that ID, an invoice sent through InvoiceNow will reach the right recipient regardless of either side's accounting software, as long as both are connected to Peppol.

How does InvoiceNow work?

InvoiceNow runs on what’s called a four-corner model. Every business connects through an accredited access point provider instead of talking to the network itself, with the provider handling the transfer on each end.

Here’s how it works:

• Corner 1 (C1): The seller’s system where the invoice originates—usually its accounting or invoicing software

• Corner 2 (C2): The seller’s accredited access point provider, which converts the invoice into UBL XML (following the Peppol standard) and sends it to the network

• Corner 3 (C3): The buyer’s access point provider, which receives the transmission and prepares it for the buyer’s system

• Corner 4 (C4): The buyer’s system where the invoice arrives as structured data, ready to process without requiring anyone to manually retype it

How do you set up InvoiceNow?

Setting up InvoiceNow is simple. Here’s how:

Register for a Peppol ID

Your access point provider ties this ID to your UEN, which is how the network identifies your business.

Confirm your software is compliant

Your accounting or invoicing system needs to generate invoices in the UBL format that InvoiceNow requires.

Test with a live trading partner

Before you rely on InvoiceNow fully, it’s worth sending a few real invoices through the network to catch formatting issues while the stakes are low.

What are the benefits of e-invoicing for Singapore businesses?

InvoiceNow eliminates the manual steps that slow invoices down and create errors. The main benefits of e-invoicing include:

• Faster processing: Invoices move between systems in minutes rather than the days it can take for a PDF to get opened, checked, and manually entered into an accounting system.

• Reduced manual work: There’s no need to retype invoice numbers, amounts, or line items, which reduces the labor cost of processing each invoice and frees staff up for work that actually needs a person.

• Improved accuracy: Because data moves from computer to computer in a structured format, there’s no data entry step where a typo could create a mismatch between what the seller billed and what the buyer recorded.

How does InvoiceNow affect IRAS compliance for businesses?

IRAS and IMDA jointly administer the GST InvoiceNow Requirement, a phased effort to have GST-registered businesses transmit invoice data through the network directly to IRAS and use it to send invoices to trading partners. This way, IRAS gets a steadier stream of transaction records instead of a periodic snapshot, which is why regulators favor structured e-invoicing over PDFs or paper in the first place. The rollout has several stages and isn’t immediate for every business.

Here are the different phases:

• November 2025: Newly incorporated companies that registered for GST voluntarily became the first group required to transmit invoice data through InvoiceNow.

• April 2026: The requirement extended to all new voluntary GST registrants, regardless of incorporation date.

• Later phase: Existing GST-registered businesses are being phased in from April 2028 through April 2031, based on their annual taxable supplies.

Because timelines and eligibility criteria can shift as IRAS refines the rollout, a business should confirm its own obligations directly with IRAS or a tax adviser.

What should businesses consider before adopting InvoiceNow?

Before you adopt InvoiceNow, you’ll need to set up your business to use it. Here’s what you should confirm first:

• Access point provider: Check whether your existing accounting software already connects to Peppol or whether you’ll need to add a separate access point provider on top of it.

• Trading partner readiness: Sending invoices through the network works only if the business on the other end is connected too. So it’s worth checking which clients or vendors are already on InvoiceNow before you assume every invoice can move digitally from day one.

• Peppol ID registration: You’ll need to register for a Peppol ID tied to your UEN, generally through whichever access point provider you choose.

• Data completeness: Your invoicing setup must correctly and consistently capture the fields InvoiceNow requires, such as GST amounts and registration numbers, and line item tax schedules since gaps or inconsistent formatting often lead to rejected transmissions.

How Stripe Invoicing can help

Stripe Invoicing simplifies your accounts receivable (AR) process—from invoice creation to payment collection. Whether you’re managing one-time or recurring billing, Stripe helps businesses get paid faster and streamline operations:

• Automate AR: Easily create, customize, and send professional invoices—no coding required. Stripe automatically tracks invoice status, sends payment reminders, and processes refunds, helping you stay on top of your cash flow.

• Accelerate cash flow: Reduce days sales outstanding (DSO) and get paid faster with integrated global payments, automatic reminders, and AI-powered dunning tools that help you recover more revenue.

• Enhance the customer experience: Deliver a modern payment experience with support for 25+ languages, 135+ currencies, and 100+ payment methods. Invoices are easy to access and pay through a self-serve customer portal.

• Reduce back-office workload: Generate invoices in minutes and reduce time spent on collections through automatic reminders and a Stripe-hosted invoice payment page.

• Integrate with your existing systems: Stripe Invoicing integrates with popular accounting and enterprise resource planning (ERP) software, helping you keep systems in sync and reduce manual data entry.

Learn more about how Stripe can simplify your AR process, or get started today.

FAQs about InvoiceNow