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InvoiceNow Transaction Bonus

Receive $200 when you send 10 E-Invoices within a year!
Colleagues in Hallway

IMDA has announced the Transact Grants (ITB) of up to $70,000 to encourage enterprises to come onboard InvoiceNow and start transacting e-invoices with their customers and suppliers on the network.

WHAT IS THE INVOICENOW TRANSACTION BONUS?
A $200 bonus for all businesses on the network for sending 10 e-invoices on InvoiceNow.

IS MY BUSINESS ELIGIBLE?
Businesses who have valid and active business UENs and send a total of 10 e-invoices on the network within 12 months from the first e-invoice will receive a bonus payout of $200.* 
• Send first e-invoice: receive $50;
• Send remaining 9 e-invoices: receive another $150


*To qualify for ITB, your business must be: (i) a Singapore registered company, (ii) send e-invoices within 12 months of the first e-invoice sent between 1 November 2022 and 31 October 2024 and (iii) must not be an company under the list of excluded entity types.

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What is InvoiceNow?

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How does InvoiceNow help your business get paid faster?

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Clean data

Minimised manual intervention with structured data format reduces human error.

Automated processing

Straight-through processing and automatic discovery of anomalies and fraud using AI on network data secured through encryption.

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Financing and factoring

E-invoicing enables financing options on your invoices so that business suppliers

can get cash advances with ease.

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Automated process to e-payment

Data accuracy is assured when it originates upstream of the payment process thus, reducing extra effort to check before payment instructions are given.

Fast billing

Quicker generation of e-invoice and no latency due to postage or courier delays supplier’s end.

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Setting Up InvoiceNow in Xero / QuickBooks Online

Let our professional consultants help you set-up InvoiceNow.

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