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     FrontPage Edition: Thu 1 May 2008

Electronic invoices for Government from 1 May 2008

 

Source: www.gov.sg

ELECTRONIC INVOICES FOR GOVERNMENT FROM 1 MAY 2008

 
From 1 May 2008, all suppliers billing the Government will need to submit their invoices electronically. The e-Invoice system is another initiative of the Integrated Government 2010 (iGov2010) Masterplan which seeks to extend the reach and quality of Government e-services.
Benefits to Suppliers

The e-Invoice system enables suppliers to submit their invoices electronically to Ministries and Statutory Boards via a common online portal (www.vendors.gov.sg).  This will enhance the efficiency of suppliers’ transactions with the Government through the end-to-end automation of business processes from tender through contracting to goods receipt and payment. Suppliers can also enjoy the following benefits from the e-Invoice system:

 

(i)         Promptness of Payment. Suppliers can expect prompt payment in accordance with agreed payment terms. E-Invoicing eliminates the risk of misplacement of hardcopy invoices.

 

(ii)        Ease of Tracking. Suppliers will be able to track the status of their invoices through online enquires anytime, anywhere and at a time convenient to them.

Phased Approach
The e-Invoice system is being rolled out in phases starting from early 2006. As suppliers may have to make modifications to their own financial systems, information on the e-Invoice system has been made available to them. Briefings have been conducted with suppliers to facilitate the phasing in of e-Invoicing. Since 1 February 2008, over 75% of Government’s invoices are received electronically. This phase involved only Government Ministries.
From 1 May 2008, Statutory Boards will also receive invoices electronically. There will be a transition period of 6 months (i.e. up to October 2008) for suppliers to adopt e-Invoicing.
Exclusion from e-Invoicing

The Government has taken into consideration a small group of suppliers who may face practical constraints in doing e-Invoicing. To give them more time to transit to e-Invoicing, they are excluded from the e-Invoice system at this stage. The suppliers excluded are as follows:

 

(i)         Small proprietorships that do not have quick access to Internet at the point of procurement of sales, for example, newspaper delivery agents, bus operators, canteen operators;

 

(ii)        Vendors registered or located overseas.

The Government will continue to gather feedback and work with these suppliers to fine-tune the system and extend e-Invoicing to them beyond October 2008.
Ms Ivy Lim, Director (Financial Administration & Control) in the Accountant-General's Department said "This initiative will bring about benefits to both suppliers and the Government. It automates the process, eliminating the risk that invoices may be misplaced and ensures prompt payment to suppliers. Suppliers will also be able to track the status of their invoices through the system at any time. The implementation of e-Invoicing is being done in phases to better prepare suppliers in adopting the system. A 6-month transition period is given for suppliers to come on board while some small groups facing practical constraints in adopting e-Invoicing are also excluded at this stage."
For further information and enquiries, please visit the web portal Vendors@Gov at www.vendors.gov.sg .

MINISTRY OF FINANCE

 

1st MAY 2008

Source: www.gov.sg Media Release 1 May 2008

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