Simplifying Your Monthly Invoice Submissions on IFF with TallyPrime

Priyanka Babu |Updated on: September 11, 2024

If you are a small business under the QRMP (Quarterly Returns Monthly Payment) scheme, you are probably familiar with the balancing act of quarterly returns and monthly payments using the Invoice Furnishing Facility (IFF). Uploading your B2B invoices and remitting taxes on GST portal every month while filing returns every quarter has become a hard and fast rule for all QRMP tax filers.

Every business under the QRMP scheme must have a proper record system for sales invoices so they can easily furnish invoices to IFF monthly. Uploading invoices on the GST portal would also mean that you should be prepared with all your invoices before you start the upload and filing process.

Invoice upload and GST filing on IFF   –      A walk in the park with TallyPrime

At TallyPrime we have a connected GST software solution that can make your invoice upload and filing process as easy as the click of a button. Now you are manually logging into GST portal and doing the upload step by step. But with TallyPrime you can forget this manual labour.

TallyPrime’s advanced connected GST feature will allow you to upload your invoices for each month of the quarter and file GSTR 1 at the end of the quarter right from the software. No more visiting the GST portal for online upload or a JSON upload!

With TallyPrime you can choose your return period and also select only those invoices you want to upload to IFF. And don’t worry about rejected transactions we have got you! If there are any rejections from the portal, you can resolve such transactions right from TallyPrime. There is no need to manually download the rejected transactions from the portal and export them to TallyPrime to check the rejected invoices.

What’s more with built-in validation checks, the GST software can detect any mismatches between your invoices and books of accounts and flag it before you begin the upload process.

How to upload invoices for IFF in TallyPrime?

Have a look at the steps for invoice upload and GST filing on to understand how TallyPrime makes GST filing easier for businesses:

1. Type GSTR – 1 on the Go To tab and open GSTR-1
2. Select the month for which you want to upload the vouchers in the GSTR-1 report
3. Click on Exchange and select Upload GST Returns > GSTR-1
4. In the Upload GST Returns screen, press F12 and enable the option Consider Report Period instead of Return Filing Period for Online Upload (for QRMP/IFF)
5. Upload your vouchers for each month of the quarter and the summary at the end of the quarter
6. Press Spacebar to select the vouchers you want to upload.
7. Click on Send. You will receive a GST login prompt.
8. Enter your GST login details and OTP

You will get an alert stating that the upload was completed. Similarly, you can upload the vouchers for the second and third months of the quarter. After the quarter is complete, you can open the report for the entire quarter and upload the summary sections. 

This finishes your upload and filing process on TallyPrime. No more visiting the GST portal and navigating for upload and filing! TallyPrime’s connected GST feature can save you significant time when it comes to tax filing. It can help you file accurate tax returns minimizing errors and reducing verification time.