Business Transactions 

Use

Some business transactions in Accounts Receivable (FI-AP) in Mexico are slightly different from in other countries. In particular, the way that invoices are used, and the use of deferred taxes.

Features

Invoices Confirm Payment in Full

The purpose of the invoice in Mexico is not to tell a customer how much they owe you, but as proof that they have paid the sum indicated. They use the invoices to substantiate their VAT return.

In the system, you create customer invoices as normal, but do not send copies to your customers until they pay in full for the goods or services they have bought.

If a customer makes a partial payment or a down payment, you send him a deferred tax certificate pending full payment of the invoice. The customer uses this certificate to substantiate his claim for the amount of tax already paid. For more information, see Partial Payments and Deferred Tax Certificates.

Deferred Taxes

As described in Deferred Taxes in Business Transactions, VAT and IEPS are not recognized until payment is made, so create invoices using deferred tax codes.