Listen to the webinar replay to learn how multinationals operating in Mexico will soon be required to submit their first journal entry (polizas) reports as required under eContabilidad legislation. Starting on September 3rd, the Mexico tax authority will be comparing all VAT tax deductions to previously registered XML documents for procurement, payroll and travel & expenses. Simply relying on your technology (SAP, ERP or OSS notes) to extract the report isn’t enough to avoid real-time audits. With fines for inaccurate and incomplete information costing $3,000 per XML, you must get your processes in order now to avoid such penalties when the SAT begins enforcing polizas reports in September.
Watch this wbinar session to uncover and address potential hidden issues in these polizas reports in the following areas:
- Inbound procurement:Many companies are still paying invoices off of a PDF – not the XML. This will could trigger inaccuracies up to 10% of your total VAT related expenditures.
- Travel and expenses: One key area of focus for the SAT is fraud within travel and expenses and XML processing and validation is often handled manually.
- Payroll: Common practice is that journal entries for payroll reports on each cost center (marketing, accounting, operations, etc.) but the back XML is at the level of employee.
To examine how your internal processes may affect your polizas reporting and the limitations of SAP OSS in addressing these issues, contact us today.
The post [REPLAY] How to Address Hidden Issues with Mexico eAccounting Reports Due by September 3rd, 2015 appeared first on Sovos Compliance.