LatamReady SuiteApp Mexico

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 Mexico

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


  • 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

  • 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.


    Tax Rules and Tax Calculation Features

    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).

    Traslado de IVA y Redireccionamiento de Cuentas

    Mexican accountants are required to post Sales and Purchases following local rules to inform if a transaction is Billed/Registered or Collected/Payed, 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.Traslado de IVA de Compras y Ventas
  • 2.Redireccionamiento de Cuentas de Ingresos

  • Electronic Invoicing Features

    For Mexico

    Directly from inside of NetSuite

    LatamReady offers a complete solution for Electronic Documents in Mexico 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.Factura
  • 2.Nota de Cargo
  • 3.Nota de Abono
  • 4.Comprobante de Recepción Pago
  • 5.Addendas
  • 6.Complemento de Pago Comercio Exterior
  • 7.Complemento de Pago
  • Does your subsidiary issue hundreds or thousands of e-Documents? Ask for our advanced solutions for bulk processing e-Documents!


    Electronic Payments Features

    For Mexico

    LatamReady supports massive Bill payments for the following local Banks:

  • 1.Banamex
  • 2.Banorte
  • 3.Bank of America (via Banco Banamex)
  • 4.Bank of America (Mexican branch)
  • 5.Banco Santander (v. 2019.2)
  • 6.HSBC Mexico (v. 2019.2)
  • 7.BBVA Bancomer (v. 2019.2)

  • Customer Care Support

    For Mexico and +14 Latin American Countries

    Always Up to Date!

    Our service includes legal updates for +14 Latin American Countries.

    Mexican 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 Mexico and +14 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 Mexico and +14 Latin American Countries

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

    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.