The Brazilian SEFAZ, tax authority, in combination with the ENCAT, the technical arm of the SEFAZ, has just published the latest version of Nota Fiscal as of July. In future blogs, we will be discussing the impact to the current processes; however, these are the key items your teams should be aware of concerning the […]
In my previous article concerning Mexico CFDI electronic invoicing, we focused on the logistics and shipping aspects of the CFDI legislation. The lesson learned from that article was: the new laws affect your ability to ship, so make sure you don’t just contract with a single point of failure. Instead, ensure you have built-in contingency […]
In my previous article, we discussed the common issues that are starting to make their way to the operational and finance teams. Many companies are setting themselves up for customer service issues, delayed payments, and most importantly delayed or lost revenue recognition as they implement their Mexico CFDI electronic invoicing strategy. In this document, we […]
This isn’t the first time I’ve blogged about the dangers of reciprocal filing, but I feel like it is a topic worth covering again for those who may have missed it. Reciprocal or exchange filing means reporting records to a state even though the last known addresses for the records are not in that state. […]
There is a lot of confusion in the marketplace for solutions for Mexico CFDI. To make matters worse, the timeline for implementing CFDI is looming just around the corner on December 31, 2013. In conversations with many companies, we are seeing a wide variety of solutions. Here are the five mission critical questions you need […]
I have written a lot on the cost of implementing Brazil Nota Fiscal, especially the hidden costs. However, in this blog, I wanted to discuss the often overlooked cost of change management. Remember that the Brazil Nota Fiscal legislation is a living and constantly evolving mandate. This means that someone has to
There is a distinct change in the mindset of multinationals happening. The trend is becoming a reality now, and management – specifically the SAP teams – are realizing the true cost of operating electronic invoicing in Latin America. It’s not a selection of a better local tool. In fact, local solutions in each country are […]
To successfully implement Account Payable E-invoicing or Shared Services in Latin America, you will need a regional solution approach that is addressing the issues, culture and technical requirements. There are a lot of companies that will claim electronic invoicing compliance through some signing partners, but it is important to understand the real issues to successfully […]
So. . . you have received the news by now. And, most likely the Mexico change is starting to make waves through the organization. Well, hopefully it is making waves because if it’s not, cancel your plans for New Years. We estimate that over 20% of multinationals will struggle to meet the deadline because they […]
With the announcement on May 31, 2013 of the updates to einvoicing in Mexico, there is a huge amount of interest – yet one potential misunderstanding of many companies. There are no old CFD paper “grandfather” clauses in the updates. Many organizations have been lulled into a peaceful sleep with the older knowledge that the […]
On May 31, 2013, the Mexico SAT, their governmental tax agency, announced the mandatory transition of all invoices, for companies generating more than 250,000 pesos in revenue annually, to an electronic process known as CFDI. With nearly 500,000 organizations potentially having to switch by the end of 2013, there will be a mad rush to […]
The chatter is increasing in Mexico around the upcoming changes to CFDI. With more than 500,000 companies potentially affected, there is a lot of posturing by solutions in the market place. But what is important and can derail your transition is not the obvious, but what is in the details. If you overlook these following […]
Latin America continues to show why they lead the world in electronic invoicing. Below I cover the basics of the Chile eInvoice process. Chile was one of the first movers in electronic invoicing and they have one of the more complex environments. The model isuniquebut does take into account some similar processes from other Latin […]
There have been a number of requests coming in to cover the basics for Brazil Nota Fiscal Inbound. Remember, that the validation of all inbound supplier Nota Fiscals is mandatory. Many companies are still accomplishing this manually. One company had over 15 individuals manually entering supplier invoices into the government portal. Another company had over […]
In my last post, I discussed expected changes as the Mexican government continues to implement and push the usage of CFDI. I wanted to expand upon the potential issues facing Procurement and Accounts Payable users and managers as I feel it is an underestimated issue.
My last post highlighted the expected change to the Mexican electronic invoice regulations. The reality is that more than 90% of invoices in Mexico are still transmitted using the older CFD process, not the version of CFDI which requires real time government validations. In conversations with a number of companies this week, I realized that […]