Leading Latin American compliance solution supports Mexico’s tax authority mandates including Contabilidad Electronica Reporting
November 3, 2015 (Atlanta) – The leader in Latin American e-invoicing and fiscal reporting compliance, Invoiceware International, today announced its partnership with Dawn Foods to support the latest e-invoicing and electronic accounting reporting requirements in Mexico. Addressing Mexico’s latest mandates, Dawn Foods will utilize Invoiceware’s complete solution to register each inbound and outbound invoicing transaction with the SAT, Mexico’s tax authority, along with providing report extractions and monitors to maintain complete compliance with the recent Contabilidad Electronica (eContabilidad) legislation.As of September 2015, multinationals operating in Mexico are required to submit journal entry (Polizas) reports to the SAT under Mexico’s eContabilidad legislation if they are audited or due VAT tax refunds. As part of this mandate, reports must match supporting XML electronic invoices or companies risk fines - per invoice - for inaccuracies. Transitioning from a locally-based compliance solution, Dawn Foods selected Invoiceware International to eliminate the internal burden of constant change management and required modifications to its native SAP ERP systems. Dawn Foods will utilize Invoiceware International’s Business-to-Government compliance solutions for complete compliance in Mexico, including billing, procurement, and reporting.
“Mexico eContabilidad legislates stringent tax reporting standards, and unprepared companies will face fines and penalties for the smallest of errors in matching invoices to required journal entry reports,” said Scott Lewin, President & CEO, Invoiceware International. “Rather than face a fire drill and dedicate significant internal resources to make this change, our clients are able to manage compliance easily within their existing SAP ERP system with little effort.”
About Invoiceware International
Invoiceware International is the leader in Latin American electronic invoicing and fiscal reporting, providing solutions and services that reduce the risk and cost of maintaining compliance across the region for the world’s largest companies, including Philips, Kellogg, DuPont and Siemens. Its proprietary Compliance Network, a hybrid cloud platform, delivers financial and supply chain managers the regulatory processes that they need while eliminating ERP configurations and customizations for IT staff. A single connection to the network simplifies the mandates, implementation and ongoing change management associated with regulations in Latin America, including Brazil Nota Fiscal, Mexico CFDI, Argentina AFIP, Chilean DTE, Uruguay, Peru and Ecuador. Learn more at Invoicewareint.com and by following @InvoicewareInt.