SRF Colombia Localization Pack for Microsoft Dynamics 365 For Finance & Operations allows to comply with the fiscal and legal regulations of Colombia and the correct transaction execution on the ERP system ensuring compliance with local and IFRS regulations, and the generation of information in reports and magnetic media required by the district and national authorities.

Legal Requirements:

Alignment of the single account plan
Characterization of third parties such as legal entity, prospects, customers, suppliers and employees with type of person, type of taxpayer, VAT (IVA) regime
Automatic creation of third parties from prospects, customers, suppliers and employees
Billing resolution management by sites
Self-retention resolution management
Tax identification number NIT independent of the prospect's account code, customer and supplier
Simplified regime billing control and generation of equivalent Document
Returns Management
Management of local taxes such as VAT (IVA), ICA, ICO Consumption Tax, Taxes as higher purchase value
Issuance of withholding certificates
Generation of official books
Generation of auxiliary books
Emission of Formats
Management of Magnetic Media Emission for DIAN

NIIF / IFRS Requirements:

Definition of accounting book NIIF
Journals and vouchers Equivalences
Ledger Accounts Equivalences
Automatic Register of Accounting vouchers
Applicable Rules in IFRS for Dynamics 365 for Finance & Operations:
- IAS 1 Presentation of financial statements
- IAS 2 Inventories
- IAS 16 Property, Plant and Equipment
- IAS 18 Income from Ordinary Activities
- IAS 36 Impairment of Assets
- IAS 38 Intangible assets

Complementary Features:

Concept management for inventory movements
Assignment of additional beneficiaries of check payments

SRF Colombia Localization Pack

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