Mexico’s electronic invoice (CFDI) is constantly evolving to improve the quality of tax information and simplify the procedures that companies must perform as taxpayers. As this evolution continues, it will be mandatory to include the payment receipt complement or the electronic payments receipt starting on September 1st.
EDICOM, PAC and technological CFDI solutions provider, recommends updating CFDI updates and complements as soon as possible in an agile manner so that company dynamics won’t be affected. This will ensure timely compliance with current legislation.
With the electronic invoice updates, Mexico’s tax administration (SAT) seeks to provide solutions to problems that have been previously identified with the practice of e-Invoicing. The ultimate goal of these changes is to optimize the system to increase tax collection and especially data quality. These modifications, which ultimately favor the taxpayer, will have an effect, nevertheless on company activity when updates take place.
Customers that utilize specialized electronic invoice providers such as EDICOM know the benefits of their knowledge and expertise thanks to their 100% compliant services. EDICOM is continuously adapting to the legal requirements of electronic invoicing and developing new solutions so that regardless of the changes, companies’ activities aren’t interrupted.
With just three months for the mandatory use of the payment receipt complement, EDICOM is ready so that its clients can include it in the CFDI solution. Anticipating the deadline allows one to:
- Adapt to the new regulation without haste
- Correct setbacks
- Comply effectively with the regulation by September 1st
- Gain efficiency and competitiveness compared to companies with less foresight
The electronic payment receipt
The electronic payment receipt or receipt for payments complement is an electronic document (CFDI 3.3), which incorporates specific information on the payments received. Thanks to its inclusion, it will offset deficiencies in the Mexican invoicing system:
- It will prevent improper invoice cancellations.
- It will prevent false duplications of income in regards to partial invoicing.
- It will state whether or not an invoice has been paid.
Using the electronic payment receipt is mandatory when the operation is paid in installments. In this case, taxpayers must issue an electronic invoice for the total amount of the product or service. Afterwards, it will be necessary to issue a CFDI with this complement for each of the incomes received. These documents need to be generated at the latest, on the 10th day of the month following the date on which the payment has been made.
Using the electronic payment receipt is also mandatory when the payment is made only once, but not covered at the time the CFDI was issued. These instances also include credit operations that are fully entered after having issued the corresponding document.
Don’t worry about constant changes
Throughout 2018, several changes will be made to the electronic invoice (CFDI 3.3) and its complements. Some of them are a result of postponements of effective dates in 2017. Sooner, rather than later, despite the delays, the changes will be made and new developments will be introduced to improve the invoicing system. The Mexican model is one of the most advanced in the world and is an example to be followed by other countries, especially as a measure to combat tax fraud.
- EDICOM has already planned and developed new technological innovations, which allow its clients to continue their activity in a climate of trust and constant security.
EDICOM is the number 1 PAC in Mexico
EDICOM was the first authorized provider (PAC) certified by Mexico’s tax administration, in 2010 for validating CFDIs. In 2015, it became the first provider certified to receive digital documents (PCRDD), an alternative to the tax administration. The PCRDD was created due to the widespread use of electronic invoicing in Mexico to correct failures and management difficulties due to the system being saturated. It acts as an “electronic window” that unifies all tax procedures and extends the reception service that at one time was offered only by the tax administration.
Therefore, EDICOM has been helping to implement electronic invoicing in Mexico for 8 years through the development of its own platform for generating, sending and receiving CFDIs that allows companies to simplify processes by integrating an automatic system with their management systems.
It also has CFDI storage solutions, which make it easier for customers to manage invoices digitally without needing their own technological storage resources.
Therefore, EDICOM offers companies in LATAM that are in the process of implementing electronic invoicing a platform that allows them to integrate electronic accounting into their systems while adapting to the regulations defined by the government of each country.