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 Panama!
About LatamReady
Electronic Invoicing Features for Panama
LatamReady SuiteApp
Panama - Standard Edition
- 1.Local transaction types and information required to produce legal ledgers required by local Tax Agency
- 2.Withholdings calculation
- 3.E-Invoice
Send E-Invoices Directly from Inside NetSuite
- One by one: A 2-step process that follows the NetSuite standard for issuing electronic invoices. The first step is to create and the second step is to generate and send each invoice one by one manually.
- Massive: Several In Bulks, tens of thousands of documents. (Add-On)
- In Bulk: for 200 documents. (Add-On)
- Ecommerce Edition: for Ecommerce companies. (Add-On)
Does your subsidiary issue hundreds or thousands of E-Documents? Ask for our advanced solutions for bulk processing E-Documents!
Electronic Payments
Features for Panama
LatamReady Supports Massive Bill Payments
- 1.Banistmo
- 2.ST. Georges Bank (SGB)
- 3.Banco General
LatamReady
App Panama
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 Panama.
LatamReady Add-Ons
NetSuite Editions:
OneWorld & Midmarket Edition / SuiteTax & Legacy
Customer Care Support
For Panama
Always Up to Date!
Our service includes unlimited legal updates for 18+ Latin American countries.
Tax rules in Panama 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
Chart of Accounts:
- a.Panama Government does not require the use of a Statutory Chart of Accounts
- b.If the Customer decides to use a Panama-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