COSMO Colombian Localization

Colombia localization for Dynamics 365 Business Central is designed to meet the legal requirements stipulated by Colombian regulations. It ensures that all transactions and processes conform to current regulations, providing peace of mind and compliance to users.

Experience and Expertise

Our solution is backed by the expertise of a team trained in Dynamics 365 Business Central and Colombian tax regulations, ensuring that every aspect of localization is aligned with best practices and local requirements.

Efficient Configuration

The Colombia-specific configuration is designed to be clear and simple, minimizing complexity and making it easy to implement so your company can quickly benefit from operational improvements.

Localization Activation

Available only if the legal entity is created with the country code Colombia, ensuring that localization processes do not interfere with other processes.

Automatic Calculations for Taxes

The localization includes the automatic calculation of taxes in transactions related to purchase and sale documents in Business Central. These include VAT, income withholding at source, ICA withholding, VAT withholding at source, income self-withholding, calculation of withholding for self-employed workers and VAT as a greater value in fixed assets.

Accounting Records with Identification Number & Name

For Colombian localization, it is imperative that all accounting records are made with identification numbers and names according to DIAN regulations. The localization incorporates the NIT and name in the accounting and tax movements in Business Central, thus facilitating a more detailed data analysis and ensuring compliance with local tax regulations.

Certificates and Official Books

• Withholding at Source Certificate
• ICA Withholding Certificate
• VAT Withholding Certificate

Official Books

• Ledger and Balance Book
• Inventory and Balance Ledger
• Daily Ledger

National Exogenous Information

The formats most used by commercial companies are generated, excluding financial entities, governmental entities, non-profit organizations and consortiums. The formats generated by the localization are the following:

1001: payments or credits on account and withholdings made.

1003: Withholdings at the source practiced

1005: Sales tax payable (discountable)

1006: Sales tax payable (Generated) and Excise tax

1007: Income received

1008: Accounts Receivable Balances as of December 31

1009: Accounts payable balances as of December 31

Third-party Reporting

The localization includes a third-party tax closing process, as well as the third-party exchange difference process.

• Trial balance by account and third party
• Trial balance by third party and account

Debit Notes, Purchases and Sales

Localization includes this document for both purchases and sales.

Supporting Document and Adjustment Note

In Colombia, suppliers and third parties that are not required to issue invoices must provide a supporting document and adjustment notes to the supporting document. The localization includes these two reports, although not in electronic format.

Tax Closing and Third-Party Exchange Difference Process

The localization includes a third-party tax closing process, as well as the third-party exchange difference process.

Module Interaction

The localization for Colombia is designed to interact in a transversal way with the transactional modules of Microsoft Business Central, including the following modules:

• Sales
• Purchases
• Assets
• Fixed Assets
• Accounts Receivable
• Accounts Payable
• Finance

Supported Editions

This app supports the Essential and Premium editions of Dynamics 365 Business Central.

Supported Countries

Colombia

Supported Languages

English (United States), Spanish (Spain, International Sort), Spanish (Mexico)