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Oracle NetSuite
Tax Compliance for Mexico

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 Mexico!​

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

About LatamReady





Tax Determination &
​Tax Information Reporting
Features for Mexico

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 Mexico.

Plus! Set of 10 Reports/Audit Reports/Searches/Alerts developed by LatamReady

This set of reports includes 10 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.

See Mexico Ledgers

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

  • 1.DIOT Legal Report (TXT format): including information regarding Expense Reports and Withholding Taxes from Vendor bills
  • 2.Mexican Electronic Accounting files (XML format), including:
  • i.Chart of Accounts
  • ii.Trial Balance
  • iii. Journal
  • iv.Auxiliary Record of Accounts
  • v.Polizas Contables
  • Learn more about legal ledgers with NetSuite in Mexico!


    Tax Rules & Tax Calculation Features for Mexico

    LatamReady SuiteApp fully supports the NetSuite SuiteTax feature for Mexico!

    Local Exchange Rate Directly Inside of NetSuite

    LatamReady offers a direct connection to the local National Bank (BANXICO) to automatically pull the daily exchange rate (USD Dollars / Local Currency).

    Currently available for the following transactions: Invoices, Credit Memos, Bills and Bill Credits.

    Tax Agencies

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

    Withholding Taxes

    We support withholding taxes not just for standard transactions but also for Credit Sales.

    Transfer of VAT and Redirection of Accounts

    Mexican accountants are required to post Sales and Purchases following local rules to inform if a transaction is Billed/Registered or Collected/Paid, Payment Terms (Cash or Credit), Taxes Applied, Type of Customer (Local or Foreign), etc.

    For addressing these local requirements, LatamReady offers a native solution developed inside of NetSuite for:

  • 1.Transfer of VAT from Purchases and Sales
  • 2.Revenue Account Redirection
  • Electronic Invoicing
    Features for Mexico

    Send E-Invoices Directly from Inside of NetSuite

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

    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.

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

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

    See E-Invoicing Details

    The Local E-Documents Supported Include:

  • 1.Factura
  • 2.Nota de Cargo
  • 3.Nota de Abono
  • 4.Addendas
  • 5.Pedimento
  • 6.Complemento de Pago Comercio Exterior
  • 7.Complemento de Pago
  • Learn more about E-Invoicing with NetSuite in Mexico!


    Electronic Payments
    Features for Mexico

    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 Mexico.

    LatamReady works with the following local banks in Mexico:

  • 1.Banamex
  • 2.Banorte
  • 3.Bank of America (via Banco Banamex)
  • 4.Bank of America (Mexican branch)
  • 5.Banco Santander
  • 6.HSBC Mexico
  • 7.BBVA Bancomer
  • 8.Scotiabank
  • 9.JP Morgan
  • Learn more about E-Payments with NetSuite in Mexico!


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

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

    Customer Care Support
    For Mexico,18+ Latin American Countries

    Always Up to Date!

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

    Tax rules in Mexico 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

  • 1.Chart of Accounts:
  • a.Chart of Accounts is not statutory in Mexico
  • b.NetSuite Mexico SuiteApps includes a mapping tool to link Customer’s accounts to Mexican legal classification of accounts
  • c.If the Customer decides to use a COA exclusively for Mexico: NetSuite Multi-Booking feature is required.
  • 2.Custom Segments (NetSuite Feature): not supported by all LatamReady Advanced Features.
  • 3.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.
  • 4.Electronic Accounting XML files:
  • a.NetSuite requires Accounting Period closed before generation of Electronic Accounting (XML files).
  • b.GL Numbering must be enabled because of the requirement to execute GL Numbering task on Period Close checklist.
  • 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.

    Mexico Is Ready. Are You?