e-Invoice via API vs MyInvois Portal: A Comprehensive Guide

Businesses today have two main ways to handle their e-Invoices: using the MyInvois Portal or integrating an API. Each method has its own unique steps and benefits. Below is a simple comparison and an easy-to-understand diagram that highlights the differences between these two methods.

Feature Comparison Malaysia's e-Invoice Model via API vs MyInvois Portal

Simple e-Invoice Workflow via MyInvois Portal vs API Integration

Key Differences Overview

1. Creation and Submission:
   • MyInvois Portal: Suitable for businesses that handle manual entries or upload batches of invoices. Best for companies without advanced internal systems.
   • API Integration: Ideal for businesses that want automatic submission through existing ERP systems, providing seamless and continuous operations.
2. Validation:
   • MyInvois Portal: Validated invoices are provided in PDF format, requiring corrective actions in case of errors, which need manual resubmission.
   • API Integration: Real-time validation with immediate feedback on errors. Successful validations provide unique identifiers directly from IRBM.
3. Notification:
   • MyInvois Portal: Notifications are sent through the portal and email to both suppliers and buyers.
   • API Integration: Integrated notifications within the business’s own systems, providing seamless communication throughout the process.
4. Sharing:
   • MyInvois Portal: Suppliers manually share invoices with buyers, including a QR code for verification.
   • API Integration: Buyers have direct access to invoices through their integrated systems, streamlining the verification process.
5. Rejection/Cancellation:
   • MyInvois Portal: Rejections and cancellations are processed manually within a 72-hour window. Beyond this period, new invoices must be issued for corrections.
   • API Integration: Automated handling of rejections and cancellations within 72 hours. Corrections require new invoices, ensuring swift adjustments.
6. Reporting & Dashboard:
   • MyInvois Portal: Built-in tools for creating reports and dashboards, providing useful insights for business analysis.
   • API Integration: Customizable reporting and dashboards within the existing business systems, allowing for tailored insights and data analysis.
7. Storage:
   • MyInvois Portal: Stored in IRBM’s database. Businesses are also advised to maintain additional records for audits and historical reference.
   • API Integration: Stored in IRBM’s database and easily accessible through the business’s ERP or integrated systems, ensuring easy data retrieval.

Conclusion

Choosing between the MyInvois Portal and API integration depends on your business’s specific needs and technical capabilities. The MyInvois Portal is well-suited for businesses needing a straightforward, manual approach, while the API integration offers seamless automation for technologically advanced businesses. Both methods ensure compliance with IRBM regulations, enhance invoicing efficiency, and support effective management of financial records.