Archive for Accounting

Transactional Implications Beyond LATAM E-invoicing: Tax Reporting

Latin American governments aren’t introducing and expanding e-invoicing mandates at a rapid rate simply to create more data. These invoices are used to support and verify tax deductions and refunds.

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Drowning in invoices – AP Departments unable to cope

January 29, 2015  |  Accounting, Invoice Automation

The 2014 AP Automation Study found that AP operations are dealing with increasing volumes of invoices. And that the use of OCR in AP departments is up from 23% to 38%. This signals improvements in revenue and a recovering economy. . But it isn’t all good news.

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Hungary changes rules for tax invoicing

Tamas Vekasi from Ernst & Young mentioned in this post that the Hungarian Minister for the National Economy published a decree changing the rules for tax invoices and cash receipts and the rules related to tax authority audits of invoices stored in electronic format, with a widespread effect on enterprises.

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Spanish Hacienda wants real time information on commercial transactions

With the SII (Suministro Inmediato de Información) system, taxpayers must submit details of invoices issued and received to the Tax Agency no later than 4 days after each billing. This means that the “record books” will be managed through the Tax Agency website.

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Mexico eContabilidad SAT updates focus on Corporations in 2015

The Mexico SAT has doubled down on their eAccounting requirements with a focus on corporations. While the go-live date has transitioned from January 25 to March 3rd, this doesn't mean you should delay your implementation. Watch this 20-minute overview to understand the key changes and how they will affect your company going forward.

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Three e-Accounting (eContabilidad) challenges in Mexico

October 14, 2014  |  Accounting, Latin America

Mexico is streets (en probably blocks) ahead of Europe, when comes to e-invoicing. Now, Mexico is taking another step: e-accounting. Or in Spanish: Contabilidad Electronica, in short: eContabilidad. Now, the fact that something becomes mandatory, doesn't necessarily means that it gets easier or simpler. In this article EDICOM discusess the challenges that comes with Mexican eContabilidad.

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Invoiceware launches necessary eContabilidad reporting tool

September 25, 2014  |  Accounting, Compliance, Government, Latin America

By mandating the use of electronic invoices in 2013, Mexico's audit capability continues to evolve as the tax authority in the world that has insight into each invoice exchanged within the country. Additionally, the SAT now has the ability to audit tax payment accuracy and evasion in real-time with electronic accounting reports. And Invoiceware International has the tools to support all of this!

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