The LatamReady App is compatible with the NetSuite Localization App for the SuiteTax version and supports Legacy. In this blog post, we also give you 3 critical signals that your Colombian company definitely needs to start using the LatamReady App.
The LatamReady App is compatible with the SuiteTax version of NetSuite
The LatamReady App fully supports all NetSuite’s editions in Colombia! Regarding the SuiteTax version, our LatamReady App is compatible with the NetSuite Localization App. Moreover, the LatamReady App fully supports Legacy.
Unlock opportunities for your growing company by extending the power of NetSuite with our innovative tax compliance solution.
A solution for legal ledgers is required
The LatamReady SuiteApp fully supports NetSuite’s multi-booking feature and includes the following ledgers for legal reporting in Colombia:
Monthly legal ledgers (CSV format)
- Balance de Comprobación de Terceros
- Libro Diario
- Libro de Inventario y Balance
- Libro Mayor y Balance
Annual Electronic Accounting ledgers
1001 Pagos y Abonos en Cuenta y Retenciones Practicadas
1003 Retenciones en la Fuente que le Practicaron
1005 Impuesto a las Ventas por Pagar – Descontable
1006 Impuesto a las Ventas por Pagar (Generado) e Impuesto al Consumo
1007 Ingresos Recibidos
1008 Saldos de Cuentas por Cobrar al 31 de Diciembre
1009 Saldos de Cuentas por Pagar al 31 de Diciembre
1012 Información de Declaraciones Tributarias, Acciones, Inversiones en Bonos Títulos Valores y Cuentas de Ahorro y Cuentas Corrientes
Medios Magnéticos Bogotá (Annual) (2020.1)
ART 1. Información de Ingresos Obtenidos por Actividades Excluidas o no Sujetas
ART 2. Información de Compras de Bienes y/o Servicios
ART 4. Información que deben Reportar los Agentes de Retención del Impuesto de Industria y Comercio (ICA)
ART 6. Información que deben Reportar los Sujetos de Retención del Impuesto de Industria y Comercio
Certificado de Retención (Monthly)
- Certificado de Retención
- Certificado de Retención Acumulado
The business needs to issue multiple amounts of e-invoicing
LatamReady offers a complete solution within NetSuite for electronic documents in Colombia.
The LatamReady App supports:
- One by one: A 2-step process that follows the NetSuite standard for issuing electronic invoices. The first step is to create and the second step is to generate and send each invoice one by one manually.
- Massive: Several In Bulks, tens of thousands of documents.
- Batch: for 200 documents.
- Ecommerce Edition: for Ecommerce companies.
Easily manage E-invoices, Credit & Debit memos, Waybills, and more! With the LatamReady App, international corporations can issue E-invoices from inside of NetSuite and generate pixel-perfect electronic documents with a simple click of a button. LatamReady Localization allows you to issue electronic documents both locally and abroad.
The company needs to support massive vendor bill payments
Via NetSuite’s Electronic Payments App, LatamReady enables companies to make massive electronic payments that follow the specific local formats required in Colombia. LatamReady works with the following local banks in Colombia.
- BanColombia
- Davivienda
- ITAU
- Colpatria
- Santander
- BBVA
- Caja Social
- Av Villas
- BCSC
LatamReady Add-Ons
LatamHub: We bring the country’s buy-sell exchange rate. LatamReady offers a direct connection with the Superintendencia Financiera de Colombia and updates the daily exchange rate directly in the transactions (USD Dollars / Local Currency). The affected transactions are: Sales Order, Credit Memo, Customer Payment, Invoice, Journal Entry, Purchase Order, Vendor Bill, Vendor Credit and Vendor Payment.
Massive electronic invoicing module: LatamReady offers a complete solution within NetSuite for electronic documents in Colombia. With the LatamReady SuiteApp, international corporations can issue E-invoices from inside of NetSuite with a simple click of a button. (This also includes the automatic set and mailing to customers)
Automatic set: automatic Filling of the transaction fields to be processed in electronic invoicing based on the configuration in the customer file.
Sending emails to clients: the automatic sending of Emails to the clients once the electronic document is already authorized by the government.
Acknowledgment of Receipt for Purchase documents: LatamReady offers the possibility to accept or reject supplier documents issued for the company before the DIAN (government obligation).
Annual Legal Ledgers: The annual legal reports are a complete summary of the different parts of your accounting of operations for the year that need to achieve compliance with the fiscal entity of the country.
Why LatamReady?
We are Latin America’s #1 Oracle NetSuite partner for implementation and localizations. The best ERP worldwide will help you adapt to changes and grow your business. Our technical support is one of the best in the region: 95% of our reviews in NetSuite are 5-star reviews.
Schedule your call here