As of January 1, 2014, Mexico has mandated the use of electronic invoices for organizations generating more than 250,000 pesos annually (~24,000 U.S. Dollars). Organizations must comply with the CFDI legislation for all outgoing customer invoices, validate all incoming supplier XML, and sign all payroll slips (Nomina Electronica).
Starting in 2015, Mexico will also require filings for electronic accounting: e-Contibilidad. For more information on reporting, please watch our short video tutorial
Mexico has a number of unique issues that you really need to understand to successfully maintain compliance. The real issue for companies operating in Mexico is not the Timbre Fiscal – this signature from a PAC is the easy part. However, getting your ERP master data mapped to the government format can be complex. If you are importing and have to manage Pedimento, the complexity rises again.
And to make matters worse, your customer can completely customize the process via Addenda requirements. Addenda can change the XML mappings, change the PDF design requirements and more often than not, change the business process.
One platform for all compliance requirements in Mexico: E-Invoicing, Receivables, Payables, Logistics, and Payroll (Nomina Electronica).
Hybrid Cloud Service – The agility of the Cloud delivered directly into native ERP compliance monitors. Eliminate mandatory ERP upgrades and reduce maintenance costs by upwards of 80% annually.
A Fixed, Predictable cost – Know down to the Penny, Peso or Reais the cost to implement & more importantly maintain compliance every year. Never have to find emergency budget for an upgrade again.
Multi-Lingual Enterprise Support–24x7x365 in English, Portuguese and Spanish for the entire end-to-end process. One phone call for any issue rather than search and rescue missions involving multiple departments.
“…By transitioning to the Invoiceware solution, Philips lowered annual maintenance fees by 80%... and achieved a 25% increase in productivity among employees across all the business units of the Brazilian multinational…”
Alexandre Quinze, CIO Philips Latin America