Fulfill regulatory and taxation regulations efficiently with our Colombia Localization Package
Pangea Group’s Colombia Localization package was developed to simplify your tax operations and reporting while complying with local government regulations. Our solution is built to work seamlessly with Microsoft Dynamics 365 for Finance and Operations, allowing you access to a powerful business solution that helps you minimize resources and reduce costs to help you achieve your business objectives.
A few of our primary Colombia Localization Package features:
• Validations: Validate third party creation to comply with Colombia accounting requirements. Be able to identify when a third party (vendor, customer, etc.) is being duplicated to avoid issues when creating legal reports.
• Third party identification numbers on transactions: Ensure that every transaction entered in Microsoft Dynamics 365 for Finance and Operations will have an associated identification number for third party transaction source tracking.
• Voucher types: Properly manage the specific setup of voucher types for transactions according to Colombia legislations.
• Tax and withholding taxes: Guarantee regulatory compliance by creating codes for taxes and withholding taxes in accordance with the codification mandated by the SRI.
• Master files: Comply with ATS file code structure by using Colombia specific fields on master files (vendors, customers, employees, etc.)
• Modes of payment or collection: Create codes differentiated by vendors or customers to fulfill regulations. Select a payment mode for vendors when the total amount of their transactions is over 1.000 USD. Configure a collection mode for all the customer transactions on the ATS file.
• Transaction Fields: Fulfill Colombia specific fields on transactions for the monthly declaration of ATS files.
• ATS files: Create xml files for the transactions on a specific period with their correspondent tax and withholding amounts. This file can be generated on a monthly basis to be uploaded directly to the SRI.
• Legal books: Visualize required books such as general ledger, balance sheet, journal, inventory and balance books.
Pangea is a business software consulting company focused on the Microsoft Dynamics 365 suite of solutions. With more than 10 years of experience in Microsoft Dynamics 365 solutions, consulting and project management, we deliver exceptionafl outcomes across the business landscape.
Miami, United States