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Oracle NetSuite
Tax Compliance for Chile

The LatamReady SuiteApp extends the power of Oracle NetSuite Cloud ERP to enable international corporations to achieve full tax compliance in Latin America.

An innovative Built-for-NetSuite solution, the LatamReady SuiteApp natively supports Tax & Accounting Compliance, Tax Reporting, Electronic Invoicing, and many more amazing features for 18+ Latin American countries, including Chile!

​Find more details and customer reviews at www.SuiteApp.com

About LatamReady





Tax Determination & ​
Tax Information Reporting Features for Chile

The LatamReady SuiteApp is always up to date with all monthly and annual tax reporting forms, making it easy for companies to comply with local tax reporting requirements in Chile.

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

The LatamReady SuiteApp includes a set of non-legal reports that our local users can utilize to review and validate legal reporting information as a previous task before sending/uploading the information to the local tax authority.

LatamReady SuiteApp users can now utilize the massive billing feature with automatic configuration for NON-electronic documents.

See Chile Ledgers

The LatamReady SuiteApp fully supports NetSuite's multi-booking feature and includes the following ledgers for legal reporting in Chile:

  • 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 to 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
  • Learn more about legal ledgers with NetSuite in Chile!


    Tax Rules & Tax Calculation Features for Chile

    LatamReady SuiteApp fully supports the NetSuite SuiteTax feature 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)

    Tax Agencies

    We work in an integrated way with the tax agencies of each country we serve; in Chile, we work with SII.

    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 local tax IDs.

    Journal Legal Numbering

    LatamReady supports the local authority’s requirement for every journal post to be numbered following statutory criteria.

    Letras

    LatamReady supports the local practice of exchanging customers' invoices for Letras de Cambio.

    Billing

    LatamReady adapts to the local rules. For example, including information such as QBLI, Servicio de impuesto SII, informaccion complementar de QBLI, in the transactions inside NetSuite (Factura Ventas, Nota de Credito y Debito, Guia, Boleta, Factura de Exportación).

    Learn more about tax withholding with NetSuite in Chile!


    Electronic Invoicing
    Features for Chile

    Send E-Invoices Directly from Inside of NetSuite

    LatamReady offers a complete solution within NetSuite for electronic documents in Chile.

    Easily manage E-invoices, Credit & Debit memos, Waybills, and more! With the LatamReady SuiteApp, international corporations can issue E-invoices from inside of NetSuite and generate pixel-perfect electronic documents with a simple click of a button.

    Does your subsidiary issue hundreds or thousands of E-Documents? Ask for our advanced solutions for bulk processing E-Documents!

    See More E-Document Features

    The Local E-Documents Supported:

  • 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
  • Learn more about E-Invoicing with NetSuite in Chile!


    Electronic Payments
    Features for Chile

    LatamReady Supports Massive Bill Payments

    Via NetSuite's Electronic Payments SuiteApp, LatamReady enables companies to make massive electronic payments that follow the specific local formats required in Peru.

    LatamReady works with the following local banks in Chile:

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

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

    Learn more about E-Payments with NetSuite in Chile!


    NetSuite Editions:
    OneWorld & Midmarket Edition / Legacy & SuiteTax Instances

    The LatamReady SuiteApp fully supports all NetSuite's editions in Chile! Unlock opportunities for your growing company by extending the power of NetSuite with our innovative tax compliance solution.

    Customer Care Support
    For Chile, 18+ Latin American Countries

    Always Up to Date!

    Our service includes unlimited legal updates for 18+ Latin American countries.

    Tax rules in Chile 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 always remains compliant.

    Included in your annual subscription is 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

    NetSuite Training on Demand

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


    LatamReady Pricing List

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


    Customer Reviews



    ​Read more customer reviews at www.SuiteApp.com

    Schedule a Call with a
    NetSuite Expert!
    ​​⬇⬇⬇

    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 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.

    Chile Is Ready. Are You?