LatamReady SuiteApp Chile

2019.1 Release

LatamReady SuiteApp is the only Native Tax Compliance solution available at www.SuiteApp.com that supports the whole Latin American Region. 

LatamReady supports +150 Customers, including the biggest Oracle NetSuite clients who have implemented in Latin America.

Tax Determination & Tax Information Reporting Features

for Chile

Fully supporting NetSuite Multi-Booking feature, our solution for Chilean Legal Reporting includes the following ledgers:


  • 1.Libro Diario (CSV and PDF formats)
  • 2.Libro Mayor (CSV and PDF formats)
  • 3.Libro de Inventario y Balance (CSV and PDF formats)
  • 4.Libro de Honorarios (CSV and PDF formats)
  • 5.Balance de 8 Columnas (CSV and PDF format according Annual DJ)
  • 6.Inventory Kardex (CSV format. PDF Format: v.2020.1)
  • 7.Legal GL Impact (PDF format)
  • 8.Electronic Accounting XML Files (2020.1)
  • a.Diario
  • b.Mayor
  • c.Balance

  • Plus! A set of Reports/Audit Reports/Searches/Alerts developed by LatamReady

    LatamReady SuiteApp includes a set of non-legal reports that our Local Users find useful to review/validate legal reports information as a previous task before sending/uploading the information to the local Tax Authority.


    Tax Rules and Tax
    Calculation Features

    For Chile

    Local Exchange Rate directly inside of NetSuite

    LatamReady offers a direct connection to the local National Bank (SuperIntendencia de Bancos e Instituciones Financieras de Chile) to automatically pull the daily exchange rate (USD Dollars/Local Currency) in sales and purchase transactions.

    Tax Calculation

    LatamTax, LatamReady’s Tax Engine developed inside of NetSuite and designed exclusively for Latin America, takes care of the complexity of local Withholding Taxes in Sales and Purchases.

    LatamReady allows you to register transactions with VAT No Creditable (IVA No Recuperable)

    Withholding Tax Certificates Formats

    LatamTax produces the required format for Withholding Tax Certificates that are required by Suppliers.

    Local Tax ID Validation

    No more local Tax IDs incorrectly registered! LatamReady includes the local validation algorithm required to verify that!

    Journal Legal Numbering

    LatamReady supports the Local Authority’s requirement for every journal post to be numbered following a statutory criteria.

    Letras

    LatamReady supports the local practice of exchanging Customer’s Invoices for Letras de Cambio.


    Electronic Invoicing
    Features

    For Chile

    Directly from inside of NetSuite

    LatamReady offers a complete solution for Electronic Documents in Chile working natively inside of NetSuite.

    No need for managing an additional local service, we do it for you!.

    The local e-documents supported are:

  • 1.Electronic Invoice
  • 2.“No Afecta” Invoice (IVA Exempt)
  • 3.Electronic Debit Memo with VAT (Afecta)
  • 4.Electronic Credit Memo
  • 5.Electronic  Waybill including VAT (Afecta) (Exclusively sales Waybills)
  • 6.Electronic Export Invoices
  • 7.Electronic Export Invoices Credit Note
  • 8.Electronic Export Invoices Debit Note
  • Does your subsidiary issue hundreds or thousands of e-Documents? Ask for our advanced solutions for bulk processing e-Documents!


    Electronic Payments
    Features

    For Chile

    LatamReady supports massive Bill payments for the following local Banks:

  • 1.CorpBanca
  • 2.ScotiaBank
  • 3.Security
  • 4.BBVA Chile
  • 5.Itau (v.2019.2)
  • Save time importing supplier’s bills directly to NetSuite

    LatamReady offers a new Beta feature for uploading Vendor’s bills (XML e-Invoicing format) directly into NetSuite.


    Customer Care Support

    For Chile, 18+ Latin American Countries

    Alway Up to Date!

    Our service includes legal updates for 18+ Latin American Countries.

    Chilean and Latin American Tax Rules are continuously changing and evolving

    LatamReady, combining local tax advisory in each country and the biggest NetSuite software factory in the Region, will ensure that your subsidiary keeps running compliant.

    Included in your annual subscription, you will also receive Unlimited Customer Care support in 3 languages: English, Portuguese and Spanish.

    Additionally, LatamReady releases 2 official versions per year, always Built-For-NetSuite certified by Oracle.

    LatamDojo e-Learning
    Platform

    For Chile, 18+ Latin American Countries

    Training on Demand

    LatamDojo, our E-learning platform, includes thousands of training videos explaining how to be and remain complaint in Latin America with Oracle NetSuite and LatamReady!


    LatamReady Pricing List

    For Chile, 18+ Latin American Countries

    Choose your Edition and start working with NetSuite all across Latin America!

    Considerations

    Chart of Accounts:

  • a.Chile Government does not require the use of a Statutory Chart of Accounts
  • b.If the Customer decides to use a Chile specific COA (instead of the Corporate COA): LatamReady requires the use of NetSuite Multi-Booking feature
  • Legal ledgers:

  • a.Most of Latin American countries are in transition to exclusively require electronic versions of legal ledgers. In some countries, companies are still able to choose between the use of electronic or printed version of legal ledgers
  • b.LatamReady legal ledgers are exclusively offered following the electronic version (fields, columns and order)
  • c.Electronic version of legal ledgers can be downloaded in CSV format
  • d.Printed version of legal ledgers are not included
  • e.LatamReady includes “Accounting Book” filter in Legal Ledgers for Multi-Booking implementation.
  • Average Costing:

  • a.In Latin America, the legally required type of costing is Average Costing
  • b.Latin American subsidiaries configured in NetSuite are required to transact using Average Costing
  • Important:

    “Libro de Ventas” and “Libro de Compras” electronic versions:

  • a.Both ledgers are required to be sent electronically to SII (Tax Agency)
  • b.LatamReady includes the formats required by Enternet Chile to produce the format required by SII (XML format)
  • c.Enternet Chile is required to e-Invoice and to electronically send “Libro de Ventas” and “Libro de Compras” to the local Tax Agency
  • Safe Harbor

    All forward-looking statements (future LatamReady SuiteApp releases) are intended to outline our general product direction. They are intended for information purposes only, and are not incorporated as part of our contracts. It is not a commitment to deliver any feature or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for LatamReady’s products remains at the sole discretion of LatamReady.