How great would it be to have a toolbox for our NetSuite-using company that we can access in order to clear any doubt and solve any error in our accounting and legal processes to achieve full tax compliance in Latin American countries?
Complex tax compliance regulations in Latin America continue and will continue to change day by day, month by month, or year by year… And keeping up with them can be a complicated task: not paying attention to the smallest detail can lead to expensive mistakes that companies cannot afford.
NetSuite-using companies that have successfully entered the Latin market use efficient and modern tools that help them simplify all their legal and accounting processes and achieve full tax compliance in their Latin American operations.
The main one? The LatamReady App.
What are LatamTools?
This Native App, in addition to all its incredible and useful features, includes LatamTools: a set of innovative functions that eliminate accounting and tax compliance errors.
Here we tell you about each of them:
Initial Data Cleansing
Cleans initial data, including local tax compliance fields, before CSV files are imported during the implementation project.
Reviews if NetSuite and LatamReady App configurations are correct or if they need to be adjusted.
Data Quality Scanner
Reviews daily data to ensure compliance with local tax rules.
The LatamReady App & NetSuite technologies
In addition, theLatamReady App supports the latest NetSuite technologies that help simplify and automate complex back-office accounting processes to help international NetSuite users with subsidiaries in Latin America. One of them it’s Legacy Tax and its new version, SuiteTax.
The LatamReady App to get full tax compliance!
Tax Determination & Tax Information Reporting
Tax Rules & Tax Calculation
Inventory Items Tax Calculation
In addition, NetSuite technologies are capable of: