The new accounting requirement for Mexican companies calls for sending of electronic accounting records as of January 2015, and applies to all legal entities for those documents to be generated in the 2015 period, as well as documents generated and transmitted in the second half of 2014 ( July to December). The regulation is described in detail in the second resolution of amendments to the RMF and Appendix 24 thereof, whereby the SAT develops the new regulated electronic schema for the issuing of electronic documents or accounting reports.
Electronic accounting system challenges
Companies must generate three XML files corresponding to three types of accounting reports. These are:
- Chart of accounts (single submission and each time a change occurs)
- Trial balances and summaries (monthly submission)
- Journal entries (monthly submission)
Construction of the XML file policies involves great complexity, as in order to maintain thorough control of the movements of companies this accounting file must include the UUIDs (universal unique identifier of invoices, aka “tax folios”) of all receipts issued and received by businesses, including invoices for travel expenses or payroll checks.
Our data mapping technology allows us to automatically extract all data from your own accounting system and transform it into XML format. In addition, our system is able to extract the UUID codes for each receipt or invoice issued or received by companies for construction of the vouchers file.
Once the messages are generated, the taxpayers must upload them to the Tax Mailbox . This is a private portal accessed with username and password through the SAT website.
The EDICOM platform’s integration capacity allows us to reintegrate the XML files generated back into your own information or accounts management system, ready for delivery to the SAT.
Under Article 34 of the Regulations of the Fiscal Code of the Federation, accounting files in their XML format must be preserved and stored as part of the accounting procedure, in compliance with the relevant official Mexican standards on generation and preservation of electronic records.
The solution stores the XML files generated under high security conditions, with accessibility guaranteed, at the EDICOM Data Processing Centre. Likewise, all accounting documents follow the technological process associated with recordkeeping rule NOM -151, which certifies their origin and integrity against any future contingency.
Integral quick start solution
This is a procedure which companies can outsource to an EDI (Electronic Data Interchange) service provider such as EDICOM, whose platform implements the necessary developments to generate the XML files and integrate them with each company’s own accounting system. This way, companies that have an EDI or electronic invoicing solution with EDICOM can roll out this new electronic accounting service quickly, which is a crucial asset, given the imminent requirement announced by the SAT.