1. |
API |
Application Programming Interface (API) is a collection of predefined rules and protocols that facilitate communication between different applications. |
2. |
B2B |
B2B stands for "Business-to-Business" which refers to transactions, interactions, or relationships between two or more businesses. It represents the exchange of goods, services, or information between businesses. |
3. |
B2C |
B2C stands for "Business-to-Consumer" which
describes transactions, interactions, or
relationships from a business to end consumer. It
refers to the process of selling products or services
directly to end-users or customers for their
personal use or consumption. |
4. |
B2G |
B2G stands for “Business-to-Government” which
refers to commercial transactions and interactions
from businesses to government entities at various
levels, such as local, state, or national
governments.
|
5. |
Credit Note |
If a customer returns a damaged item or the
suppliers intends to make adjustments due to
various reasons (e.g., discount provided, incorrect
amount delivered), the supplier will issue a credit
note to adjust the amount owed, ensuring accurate
billing. Corresponding references to the associated
invoices should be clearly specified in the face of
the credit note to ease reconciliation. |
6. |
Debit Note |
It adds an amount to the originally stipulated total.
For example, when a customer requests additional
services or supplier incurs additional costs such as
expedited shipping, this results in an increase in
the overall invoice amount. Any corresponding
references to the associated invoices should be
clearly specified in the debit note to ease
reconciliation. |
7. |
ERP |
Enterprise Resource Planning (ERP) is a type of
software system that helps organisations to
automate and manage core business operations. |
8. |
Invoice |
It contains information such as supplier’s and
buyer’s details, item descriptions, quantities,
prices, taxes, and total amounts, which recorded
the transactional data arising from day-to-day
business operations. This includes the purchases
and receipt of services from foreign suppliers, and
other examples of self-billed e-Invoice.
|
9. |
MSME |
Micro, Small and Medium-sized Enterprises whose
revenue numbers fall below certain limits. |
10. |
MyInvois Portal |
MyInvois Portal is a user-friendly web application
developed by IRBM that provides taxpayers an
intuitive interface to access and perform essential
e-invoicing tasks. |
11. |
MyInvois System |
MyInvois System, developed by IRBM, is an
e-invoicing system designed to streamline the
exchange and management of e-Invoice in a
structured electronic format between suppliers and
buyers, ensuring a seamless process. |
12. |
QR code |
Quick Response Code containing encoded data
that typically includes information for a locator or
reference, as well as an identifier. |
13. |
Refund note |
When a customer has paid for a product or service
and subsequently returns the product or cancels a
service, they become eligible for a refund. The
refund note e-Invoice acknowledges the return and
specifies the refunded amount. |
14. |
SGML (ISO 8879) |
Standard Generalized Markup Language
(International Organization for Standardization
8879) is a standard for defining generalized
markup languages for documents.
|
15. |
SST |
Sales Tax or Service Tax that is imposed pursuant
to Sales Tax Act 2018 or Service Tax Act 2018
respectively. Sales Tax and Service Tax are
single-stage taxes which are levied on all locally
manufactured/ imported taxable goods and certain
prescribed taxable services (acquired locally or
imported), respectively. |
16. |
Validation |
Refers to process of MyInvois System evaluating
and verifying the submitted e-invoice to ensure that
it meets the data requirements set forth by IRBM.
Kindly refer to section 2.4.3 Step 2 e-Invoice
Validation. |
17. |
XML |
Extensible Markup Language (XML) is a markup
language that offers a set of rules for defining and
structuring data in a flexible and extensible
manner.
|
18. |
UBL |
Universal Business Language (UBL) is an open
library of standard electronic XML business
documents designed to facilitate the digital
exchange of business information. UBL provides a
comprehensive suite of schemas that define
common business documents like purchase
orders, invoices, dispatch advices, and receipts.
These documents can be used across different
industries and regions, promoting interoperability
and seamless integration between systems. UBL
2.1 refers to (Universal Business Language
Version 2.1) |