NetSuite Chile SuiteApp

LatamReady Standard Edition

LatamReady Tax Compliance SuiteApp

LatamReady SuiteApp Chile - Standard Edition

  • 1.RUT (Tax ID) validation in Customers and Suppliers registers using Verified Digit.
  • 2.Local transaction types and information required to produce legal ledgers required by SII (Chilean Tax Agency)
  • 3.Five legal ledgers (CSV format):
  • 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 8 columnas (CSV and PDF format according Annual DJ)
  • 4.      “Operaciones con IVA no recuperable” and “IVA Uso Comun” tracking. Information required by SII to track exporting goods is also included

    5.       Withholding Taxes management applied to Purchases IVA and “Boleta de Honorarios” (a Type of Bill used when the Supplier is a person and not a company)

    6.       Withholding Taxes Certificate printed format including legally required fields (Annual)

    7.       Inventory “Kárdex” (NetSuite Inventory module is required). Is a specific report required to present information regarding inventory transactions (CSV format. PDF Format: v.2019.1)

     8. Legal GL Impact (PDF format). Is a legal document for each accounting transaction showing accounts, amounts, entities and memos.

  • a.Individual option: Is a custom button included in each transaction.
  • b.Mass option using a custom report: This feature uses “GL Audit Numbering” standard feature by accounting period.
  • LatamReady SuiteApp Chile - Advanced Features

    (Each feature subscription is offered separately)

    Electronic Invoicing

    Via Enternet Chile (NetSuite e-Invoicing module is required). Enternet  is the e-Invoicing local supplier directly connected to NetSuite. Includes 8 e-documents:

  • a.Electronic Invoice
  • b.“No Afecta” Invoice (IVA Exempt)
  • c.Electronic Debit Memo with VAT (Afecta)
  • d.Electronic Credit Memo
  • e.Electronic   Waybill with VAT (Afecta) (Exclusively sales Waybills)
  • f.Electronic Export Invoices
  • g.Electronic Export Invoices Credit Note
  • h.Electronic Export Invoices Debit Note
  • Electronic Payments

    NetSuite Electronic Payments + LatamReady combined solution supports the following bank payment files:

  • 1.CorpBanca
  • 2.BBVA Chile (v.2019.1)
  • 3.Itau Bank (v.2019.2)
  • SmartStart!

    Chile by LatamReady: Set of 17 Reports/Audit Reports/Searches/Alerts

  • i.Is a set of non-legal reports
  • ii.This set of reports has been developed to be used to analyze, review and validate the information to be sent to SII (Chilean Tax Agency)

  • 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:

  • 1.In Latin America, the legally required type of costing is Average Costing
  • 2.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 Statement

    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.