e-Invoice via API vs MyInvois Portal: A Comprehensive Guide
Discover the differences between malaysia e-Invoice models via API and MyInvois Portal. A detailed guide to help you choose the best method for your business.
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
Feature
MyInvois Portal
API Integration
Creation and Submission
E-Invoices are created manually (one-by-one) or in batches (Excel upload) via the MyInvois Portal.
E-Invoices are automatically submitted from ERP systems or third-party software using API.
Validation
Validated e-Invoices are received in PDF format; errors require fixing and resubmitting.
Instant validation with responses for errors or successful validation, including unique identifiers from IRBM.
Notification
Notifications are sent via MyInvois Portal and email to both supplier and buyer for validation outcomes.
Notifications are sent through the integrated ERP system or software, directly to both supplier and buyer.
Sharing
Suppliers manually share the validated e-Invoice with buyers, including a QR code for verification.
Buyers can access validated e-Invoices directly through their ERP system or integrated software.
Rejection/Cancellation
Rejections or cancellations must be requested within 72 hours through the portal.
Rejections or cancellations must be requested within 72 hours through the service provider's platform.
Reporting & Dashboard
Provides built-in reporting and dashboard tools for detailed insights.
Allows for flexible and customizable reporting and dashboards within the business’s existing systems.
Storage
Stored in IRBM’s database; businesses are advised to keep their own records as well.
Stored in IRBM’s database and easily accessible through the business’s ERP or integrated software.
Simple e-Invoice Workflow via MyInvois Portal vs API Integration
Key Differences Overview
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.
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.
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.
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.
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.
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.
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.
