Layer 1
Menu



​
​Oracle NetSuite Tax Compliance for Colombia


The LatamReady App 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 App natively supports Tax & Accounting Compliance, Tax Reporting, Electronic Invoicing, and many more amazing features for 18+ Latin American countries, including Colombia!​

About LatamReady





Tax Determination &
​​Tax Information Reporting Features for Colombia


The LatamReady App 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 Colombia.

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

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

1. Monthly Legal Ledgers (CSV format):

  • a. Libro de Inventario y Balance
  • b. Libro Mayor y Balance
  • c. Libro Diario
  • d. Balance de Comprobación de Terceros

2. Withholding Certificates:

  • i. Withholding Tax Certificate (Monthly)
  • ii. Summarized Withholding Tax Certificate (Annual format)

Tax Rules & Tax Calculation Features for Colombia

Tax Calculation

LatamTax, LatamReady’s Tax Engine designed exclusively for Latin America, takes care of the complexity of local withholding taxes in sales and purchases. Our solution for Colombia includes:

  • Withholding Reclassification: Automated reclassification for Withholdings and Self-withholdings (Sales and Purchases).
  • Withholding Support: Support for applying withholdings by totals or by lines, as applicable to the company's requirements.

Localization

  • Automated Withholdings: Auto-calculates ReteICA, ReteIVA, and Retefuente on purchases and sales via natively integrated LatamTax.
  • Self-Withholdings (Autorretenciones): Fully compliant handling of special DIAN withholding requirements.
  • Withholding at Payment: Accurately calculates and applies taxes at the exact time of payment collection.
  • Automated Reclassification: Streamlines accounting processes for both sales and purchases to ensure precise statutory reporting.
  • VAT Transfer: Seamlessly manages local VAT transfer mechanisms.
  • Dynamic Rates: Flexible withholding configurations by transaction total or line-item based on supplier conditions.
  • Official Certificates: Auto-generate and print compliant Withholding Certificates (Certificados de Retención) directly from NetSuite.
  • Native GL Impact: Ensures complete visibility and precise accounting treatment inside your General Ledger.
  • Exchange Rate Integration: Auto-fetches official daily rates from the Superintendencia Financiera de Colombia directly into your transactions.

Tax Agencies

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

Withholding Tax Certificates Formats

LatamTax produces the required format for the Withholding Tax Certificates (Monthly and Annual) required by suppliers.

Local Tax ID Validation

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

LatamTax pre-configured set of taxes includes:

  1. 1.ICA (Local Municipal Tax)
  2. 2.IVA (Value Added Tax)
  3. 3.Fuente (Withholding Tax)

Electronic Invoicing
​Features for Colombia

Send E-Invoices Directly from Inside NetSuite

LatamReady offers a complete solution within NetSuite for electronic documents in Colombia. The LatamReady App supports:

  • One by one: A 2-step process following the NetSuite standard for manual creation and generation.
  • Massive (Add-On): Designed for processing tens of thousands of documents (Several Bulks).
  • In Bulk (Add-On): Optimized for processing up to 200 documents simultaneously.
  • Ecommerce Edition (Add-On): Specialized for high-volume Ecommerce companies.
  • ADDON Inbound (XML Upload): Automatic download of supplier XML invoices from the portal and instant creation of the Vendor Bill transaction in NetSuite.

Easily manage Electronic Invoices, Credit & Debit Notes, Support Documents (Documento Soporte), Acknowledgment of Receipt (RADIAN), and more! With the LatamReady App, international corporations can generate pixel-perfect electronic documents with a simple click. LatamReady Localization allows you to issue electronic documents for both local and export operations.

LatamReady App users can also utilize the massive billing feature with automatic configuration for non-electronic documents, ensuring full compliance across all billing flows.


Supported E-Documents Include:

Sales

  1. 1.Factura
  1. 2.Nota de Crédito
  1. 3.Nota de débito


Purchases

  1. 1.Documento de Soporte
  2. 2.Nota de Ajuste

COLOMBIA BILLING

Our solution adapts to the local DIAN rules, enabling the management of:

  • Document Issuance: Electronic Invoice, Credit Note (with and without reference), Debit Note, and Export Invoice (including Export Credit and Debit Notes).
  • Complex Scenarios: Invoicing for Temporary Services (AIU), Billable Hours, Third-Party Income (Mandatos), and VAT Exempt (Excluido) transactions.
  • Tax Flexibility: Invoicing with Line-level and Header-level Withholdings, Global and Line Discounts, and Shipping Costs.
  • Purchase Documents: Issuance of Support Documents (Documento de Soporte) for purchases (Items and Expenses) and Adjustment Notes (Nota de Ajuste).
  • Advanced Features:
    • Item Split for Electronic Invoices.
    • Inbound & EI Scanner Rejected: For document reconciliation and reception.
    • Automatic Set & Advanced Sales Flow: Field automation and advanced sales workflows.
    • Send Email Receptor: Automated delivery of authorized documents to recipients.

Electronic Payments
​Features for Colombia

LatamReady Supports Massive Bill Payments

Via NetSuite's Electronic Payments, LatamReady enables companies to make bulk electronic payments that follow the specific local formats required in Colombia. LatamReady works with the following local banks:

  1. 1.Bancolombia
  2. 2.Davivienda
  3. 3.ITAU
  4. 4.Scotiabank Colpatria
  5. 5.Santander
  6. 6.BBVA
  7. 7.Banco Caja Social
  8. 8.AV Villas
  9. 9.BCSC
  10. 10.Banco de Bogotá
  11. 11.Banco de Occidente

LatamReady Add-Ons

Exchange Rate Module: We bring the country's buy-sell exchange rate. The basic version connects with the Superintendencia Financiera de Colombia and updates the daily exchange rate directly in the transactions (USD Dollars / Local Currency), while the advanced version also updates the standard NetSuite table. The affected transactions are:

  1. 1.Sales Order
  2. 2.Credit Memo
  3. 3.Customer Payment
  4. 4.Invoice
  5. 5.Journal Entry
  6. 6.Purchase Order
  7. 7.Vendor Bill
  8. 8.Vendor Credit
  9. 9.Vendor Payment.

Massive Electronic Invoicing Module: LatamReady offers a complete solution within NetSuite for electronic documents in Colombia. With the LatamReady SuiteApp, international corporations can issue E-invoices from inside NetSuite with a simple click.

  • Automatic Set: Automatic filling of transaction fields based on the configuration in the customer file.
  • Sending Emails to Clients: Automated delivery of emails once the electronic document is authorized by the government.
  • Acknowledgment of Receipt (Purchase Docs): Ability to accept or reject supplier documents before the DIAN (RADIAN government obligation).

Annual Legal Ledgers: These annual legal reports provide a complete summary of your accounting operations for the year, ensuring compliance with the local fiscal entity (DIAN).

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


The LatamReady App is compatible with the NetSuite SuiteTax version and supports Legacy.

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


Customer Care Support
​For Colombia

Always Up to Date!

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

Tax rules in Colombia 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.

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!





Schedule a Call with
​a NetSuite Expert!


Safe Harbor Statement

All forward-looking statements (future LatamReady App 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 remain at the sole discretion of LatamReady.

Colombia Is Ready!
​Are You?