As your business grows and expands into Mexico, the Mexico CSF helps to keep your Epicor Financials system compliant from day one to save time and expense. The CSF package contains the most used financial and operational functionalities in the country including:
The process of preparing a sales invoice including the generation of the electronic invoice happens in several steps. First, the system generates and sends an XML file with the content of the invoice to a third-party local authorized partner that signs the file digitally and returns the certified version of the XML file to the system. Then, this certified XML file is saved and available in the Invoice Tracker program. The printed PDF copy contains the appropriate QR code meeting the SAT requirements.
When required, the invoice can be completed with the International Trade Supplement or the Fiscal Text Supplement before the certification, which are then saved in the system.
The Mexico CSF package builds on the standard Cash Receipt functionality. Similarly to issuing electronic invoices, an authorized third- party local service is used to digitally sign the XML files that contain business information on cash receipts. The certified XML file is saved in Epicor Financials for a later enquiry in the Cash Receipt Tracker. The PDF version of the Cash Receipt document shows the appropriate QR code as per the SAT requirements.
The local tax authority (SAT) requires businesses to periodically submit their financial accounting data in electronic format such as the Trial Balance and the Chart of Accounts (COA) reports. After an accounting period is closed, the generation of these reports in the required XML format takes just a few clicks.
Three optional reports are also available: one with all the posted General Ledger transactions with journal details, and two similar reports showing the same data, but grouped by the fiscal folio number and the account’s auxiliary information.
This electronic report contains information on the VAT of supplier invoices paid in a period. After the system generated the electronic reporting file in TXT format, it needs to be uploaded manually to the local tax authority web site following each accounting period.
For certain activities defined by SAT, such as professional services or leasing, the taxes are withheld by the buyer. In these cases, an Electronic Withholding Tax Certificate needs to be generated by the buyer which should be sent to the supplier.
Epicor Financials can generate the required certificate in XML format. Just like with electronic invoices and cash receipts, Epicor Financials sends the initial XML file to an authorized third-party service that helps provide returns the certified version of the XML file. It is possible to print a PDF formatted document with the same content as the certified XML file.
When required, this certificate can be completed with the Foreign Vendor Payment Supplement before the certification, which is then saved in Epicor Financials.