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Oracle NetSuite Tax Compliance for Peru


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 Peru!​


About LatamReady




Tax Determination &
​​Tax Information Reporting Features for Peru


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 Peru.

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


a. Peru Monthly Ledgers - PLE:

  • 5.1 Libro Diario
  • 5.3 Libro Diario - Detalle del Detalle del Plan Contable Utilizado.
  • 6 Libro Mayor
  • 1.1 Libro Caja y Bancos - Detalle de los Movimientos del Efectivo
  • 1.2 Libro Caja y Bancos - Detalle de los Movimientos de la Cuenta Corriente
  • 3.17 Libro de Inventario y Balances - Balance de Comprobación
  • 8.1 Registro de Compras
  • 8.2 Registro de Compras - Información de Operaciones con Sujetos No Domiciliados
  • 8.4 Registro de Compras Electrónico (RCE)
  • 8.5 Registro de Compras - Información de Operaciones con Sujetos No Domiciliados
  • 14.1 Registro de Ventas e Ingresos
  • 14.4 Registro de Ventas e Ingresos (RVIE)
  • 13.1 Registro del Inventario Permanente Valorizado - Detalle del Inventario Valorizado

c. Activos Fijos

  • 7.3 Registro de Activos Fijos - Detalle de la Diferencia de Cambio.
  • 7.1 Registro de Activos Fijos - Detalle de los Activos Fijos Revaluados y no Revaluados.
    ​

LatamReady supports the Electronic version of Peruvian Legal Ledgers. We suggest our Customers to affiliate Local Subsidiaries to the Peruvian Electronic Legal Ledgers way to inform to the local Tax Authority.

Tax Rules & Tax Calculation Features for Peru

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.

LatamTax pre-configured set of taxes includes:

  1. 1.Withholding Taxes
  2. 2.Detracciones
  3. 3.VAT (IGV)

Tax Agencies

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

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 that!

Letras

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

NetSuite MidMarket Edition

LatamReady’s App also works in the Mid-Market Edition with transaction payments, withholding taxes and billing transactions.

Localized Expense Reports

Expenses (e.g. meals, travels, petty cash, etc.) are required to be included in legal ledgers. It is possible now with LatamReady!

Exclusive Peru Features

LatamReady's exclusive Peru features include:

  • IGV and recognition of the Consumption of Plastic Bags Tax in the Purchase Registry.
  • Mirror impact recognition on level 6 and 9 accounts: Legally, accounts 6 and 9 must be the same in Peru. According to the mapping indicated by the client, we automatically generate the accounting impact at the time of transaction registration.
  • Module for the generation of the payment file for deductions to suppliers: We generate this file both for the Banco de la Nación and for the payment with the clave sol. When registering the payment in NetSuite, the purchase invoices are automatically recognized in the electronic purchase book.
  • Recognition of income tax in Non-residents: Succession of income tax in supplier documents to be reported in the Non-resident Purchase Registry (8.2)

Electronic Invoicing
​Features for Peru

Send E-Invoices Directly from Inside of NetSuite

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

The LatamReady App supports:

  • 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)

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


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

Electronic Payments
​Features for Peru

LatamReady Supports Massive Bill Payments

Via NetSuite's Electronic Payments App, 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 Peru:

  1. 1.BCP
  2. 2.Scotiabank
  3. 3.Banco de la Nacion
  4. 4.Interbank
  5. 5.BBVA
  6. 6.Banbif

LatamReady Add-Ons

Exchange Rate Module: We bring the country's buy-sell exchange rate. The basic version makes the connection with SUNAT (Superintendencia Nacional de Aduanas y de Administración Tributaria) 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 Peru. With the LatamReady SuiteApp, international corporations can issue E-invoices from inside of NetSuite with a simple click of a button. Sending electronic documents by batch or in batches has never been easier! (This also includes the automatic set and mailing to customers)

Automatic set: automatic Filling of the transaction fields to be processed in electronic invoicing based on the configuration in the customer file.

Sending emails to clients: the automatic sending of Emails to the clients once the electronic document is already authorized by the government.

Annual Legal Ledgers: The annual legal reports are a complete summary of the different parts of your accounting of operations for the year that need to achieve compliance with the fiscal entity of the country.

Extra Accounting Support: If another type of accounting support is required after the monthly balance sheet, we will quote and provide the necessary support.

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 Peru! Unlock opportunities for your growing company by extending the power of NetSuite with our innovative tax compliance solution.


Customer Care Support
​For Peru

Always Up to Date!

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

Tax rules in Peru 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!





Schedule a Call with
​a NetSuite Expert!


  1. 1.Chart of Accounts:
    1. a.Chart of Accounts is statutory in Peru
    2. b.LatamReady requires transactions to be performed using local statutory COA and map local COA to corporate COA using NetSuite Multi-Booking feature (implementation / configuration are not included
  2. 2.Legal ledgers:
    1. 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
    2. b.LatamReady legal ledgers are exclusively offered following the electronic version (fields, columns and order)
    3. c.Electronic version of legal ledgers can be downloaded in CSV format
    4. d.Printed version of legal ledgers are not included
    5. e.LatamReady includes “Accounting Book” filter in Legal Ledgers for Multi-Booking implementation.
  3. 3.Average Costing:
    1. a.In Latin America, the legally required type of costing is Average Costing
    2. b.Latin American subsidiaries configured in NetSuite are required to transact using Average Costing
  4. 4.Double accounting in Peru: by Nature and by Function:
    1. a.Double accounting for the same posting is not supported by NetSuite
    2. b.IMPORTANT: Double accounting is not legally required
    3. c.LatamReady suggest to exclusively perform accounting posting by Nature (Class 6 expense accounts)
    4. d.Information by Function could be worked by NetSuite segmentation (departments, classes) and via custom reports (not included)
  5. 5.Double Exchange Rate (Sales and Purchase Exchange Rates):
    1. a.NetSuite supports one single Exchange Rate to be used as automatic suggestion for registering a new transaction in a foreign currency
    2. b.LatamReady suggests to register Sales Exchange Rate
    3. c.For Purchasing and Bank transactions: the user, with the correct role, will be able to edit/change the exchange rate for each transaction and manually update the suggested Exchange Rate to the Purchase Exchange Rate


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.

Peru Is Ready!
​Are You?