News About Obligatory Electronic Bookkeeping in Mexico
Since January of 2015, individuals or businesses with incomes that exceed or are equal to 4 million pesos have been required to regularly send electronic accounting reports to the tax administration.
However, the electronic submission process, which has affected more than 200,000 taxpayers, suffered a set back when Mexico’s tax administration postponed submissions for a month. This postponement enabled the administration to more effectively facilitate the implementation of the new electronic system among taxpayers. Therefore, any individuals or businesses that still need to submit reports related to the chart of accounts or trial balance for January 2015 may do so no later than April 3rd or 7th respectively.
Also, our platform has the capacity to process data in a way, which allows us to automate the issuance of bookkeeping information since the data captured from the client’s accounting system has been transformed and validated by the schema regulated by the tax administration. Furthermore, the process is hassle free for the client since the properly constructed documents and certificates are integrated back into the computer system or bookkeeping system used regularly by the company.