Mexico CFDI and eContabilidad Reporting Overview

February 15, 2016 Karen Marchione

As of January 1, 2014, Mexico has mandated the use of electronic invoices for organizations generating more than 250,000 pesos annually (~24,000 U.S. Dollars).  Organizations must comply with the CFDI legislation for all outgoing customer invoices, validate all incoming supplier XML, and sign all payroll slips (Nomina Electronica). 

Starting in 2015, Mexico will also require filings for electronic accounting: e-Contabilidad. For more information on reporting, please watch our short video tutorial 

Mexico has a number of unique issues that you really need to understand to successfully maintain compliance.  The real issue for companies operating in Mexico is not the Timbre Fiscal – this signature from a PAC is the easy part.  However, getting your ERP master data mapped to the government format can be complex. If you are importing and have to manage Pedimento, the complexity rises again.

And to make matters worse, your customer can completely customize the process via Addenda requirements.  Addenda can change the XML mappings, change the PDF design requirements and more often than not, change the business process.

Mexico SAT -  CFDI Invoicing & eAccounting Requirements

  • Account Receivable mandates - Sending Invoices to customers – these must be CFDI if your business does more than 250,000 pesos of revenue per fiscal year.
  • Account Payable mandates - Receiving invoices from suppliers – the government only cares about XML during an audit as of the 2012 diaries, so you must collect, validate and archive your supplier XML.
  • Logistics companies should be producing the Carte Porta and this should accompany your goods movement in the country, customs documentation can be used for import.
  • Import numbers known as Pedimento must be applied to the invoice.
  • Nomina Electronica – All payroll receipts must be validated before you can deduct taxes, this is retroactive and effective as of January 1, 2014.
  • eContabilidad (eAccounting Reports) – due for Chart of Accounts, Trial Balances and Journal Entries which need to be linked to government CFDI XML approval codes known as UUID

    Download Mexico mandate checklist 

Invoiceware International Solutions for Mexico include:

  • CFDI eBilling with Distribution to end customers
  • Multi-PAC so you don’t have issues getting your Timbre Fiscal
  • Account Payable invoice reception and CFDI Validation
  • 3 Way Match also known as MIRO/MIGO processing for SAP ERP
  • Nomina Electronica
  • Addenda Design & Maintenance including Goods Receipt updates after the fact
  • PDF Design & Maintenance based on customer specifics
  • Data Extraction and Extended Attributes – We provide all the data manipulation so you don’t have to adjust your ERP processes. More importantly, we maintain this through the government changes.
  • Archiving, PDF design and maintenance, and more…

How Invoiceware International Simplifies for Compliance in Mexico and throughout Latin America:

One platform for all compliance requirements in Mexico: E-Invoicing, Receivables, Payables, Logistics, and Payroll (Nomina Electronica).

Hybrid Cloud Service – The agility of the Cloud delivered directly into native ERP compliance monitors. Eliminate mandatory ERP upgrades and reduce maintenance costs by upwards of 80% annually.

A Fixed, Predictable cost – Know down to the Penny, Peso or Reais the cost to implement & more importantly maintain compliance every year. Never have to find emergency budget for an upgrade again.

Multi-Lingual Enterprise Support–24x7x365 in English, Portuguese and Spanish for the entire end-to-end process.  One phone call for any issue rather than search and rescue missions involving multiple departments.

Previous Article
Peru SUNAT Electronic Invoicing & Libros Reporting Overview
Peru SUNAT Electronic Invoicing & Libros Reporting Overview

Next Article
Brazil Nota Fiscal and SPED Reporting Overview
Brazil Nota Fiscal and SPED Reporting Overview

Brazil Nota Fiscal and SPED Reporting Overview