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The Mexican Tax Authority (SAT), require any company that generates more than 250,000 pesos in revenues (approximately $16k annually) to use a digital tax receipt called a Comprobante Fiscal Digital por Internet (CFDI) - essentially an electronic invoice that allows immediate verification of the identity and tax eligibility of the person signing the document.
In the years since it was enacted, CFDI legislation has gone through multiple updates, including an SAT mandate in 2015 for companies to also use electronic accounting and requiring them to submit their chart of accounts, trail balances and journal entries.
Mexico CFDI documents include electronic invoices, payroll receipts, credit notes, debit notes, lease receipts and numerous other fiscal documents. All organizations doing business in Mexico must use specially formatted CFDI files that meet Mexican SAT requirements. Electronic signatures are also required for issuing CFDI, and the certificates used for signing must be obtained by the SAT. And all CFDI must be verified by an authorized certification provider (PAC) who then must report the invoice to the Mexican Government within 72 hours of its creation.
Concur App Center partners Detecno, Axosnet, ATEB, and Interfactura help manage CFDI reporting and compliance by offering cloud-based software solutions that streamline and automate CFDI review. Because these tools integrate directly with Concur Expense and Concur Invoice, validation is built into the organization’s existing expense reporting and AP process – ensuring compliance without the need for additional steps.
In addition to cost savings, implementing automated CFDI software that integrates directly with Concur also eliminates integration challenges and reduces the risk of tax exposure. Automated validation ensures every CFDI complies with government regulations for structure, signatures, and certificates; while cloud-based updates ensure the system is always up to date with the latest revisions to the SAT schema.
