Online accounting

By way of the second amendment to the Administrative Rules resolution published in the official journal of the nation on July 4th, the new rules to carry on this new obligations are known, which had been announced by the authorities in a preliminary publication. 

Accounting system requirements:

Taxpayers who are complied to have accounting, with the exception of those registering their transactions in the online tool “my accounts”, should register it on electronic systems with ability to generate XML files with the following:

• Chart of accounts on which a field with the account grouping code of the SAT listed in the append 24, in the A and B sections must be added.
• Trial balance: including initial balances, period transactions and final balances of each and every of the accounts: assets, liabilities, capital, results (income, cost, expenses) and memorandum accounts; in case of the year-end balance, information regarding tax adjustments must be included. All taxes must be included and if so, identify the different fees, assessments and activities on which you should not pay taxes, as well as the indirect taxes effectively collected and the effectively paid.
• Information of the generated entries: including the details for the transactions, accounts, sub-accounts and items. On each entry must be possible to distinguish the electronic invoices supporting the operation, also must be possible to identify the taxes with the different rates, fix fees and activities for which tax should not be paid. In operations related to a third party the tax id number (RFC) must be included, according to append 24 section D.

Los contribuyentes obligados a llevar contabilidad, excepto aquellos que registren sus operaciones en la herramienta electrónica “Mis cuentas”, deben llevarla en sistemas electrónicos que tengan la capacidad de generar archivos en formato XML que contengan lo siguiente:

• Catálogo de cuentas al que se le agregará un campo con el código agrupador de cuentas del SAT contenidos en el anexo 24, apartados A y B.
• Balanza de comprobación que incluya saldos iniciales, movimientos del periodo y saldos finales de todas y cada una de las cuentas de activo, pasivo, capital, resultados (ingresos, costos, gastos) y cuentas de orden; en el caso de la balanza de cierre del ejercicio se deberá incluir la información de los ajustes que para efectos fiscales se registren. Se deben identificar todos los impuestos y, en su caso, las distintas tasas, cuotas y actividades por las que no deba pagar el impuesto; así como los impuestos trasladados efectivamente cobrados y los impuestos acreditables efectivamente pagados, conforme al anexo 24, apartado C.
• Información de las pólizas generadas incluyendo el detalle por transacción, cuenta, subcuenta y partida, así como sus auxiliares. En cada póliza debe ser posible distinguir los CFDI que soporten la operación, asimismo debe ser posible identificar los impuestos con las distintas tasas cuotas y actividades por las que no deba pagar el impuesto. En las operaciones relacionadas con un tercero deberá incluirse el RFC de éste, conforme al anexo 24, apartado D.

Submitting information to SAT:

Information should be submitted through the taxpayer mailbox, according to the following: 

Chart of accounts one time and no later than October 25th 2014 and every time it ́s modified. In the former case, it should be sent again within the next 3 days after its modification.

Monthly trial balance: corporations or companies the following month no later than the 25th and individuals no later than the 27th. In the event of further modifications, these should be delivered within the next 3 days after the event.

The exception to this rule is for the months July to November 2014, which should be delivered the latest on the 25th of the following months:

• Year-end trial balance: corporations or companies the latest is on the 20th of April of the period immediate subsequent, and natural people or individuals on the 22nd of May.

If the previous files included computer errors, the SAT (Mexican IRS) will notify the taxpayer by means of the Taxpayer Mailbox so that the taxpayer can submit the information again within the next 3 days subsequent to the notification. In case the files are not sent within the stablished period, they shall be considered not to have been lodged.

Submitting information at the request of authority
The SAT (Mexican IRS) will be able to request information on the entries and on the acknowledgements of remittance slips concerning to the chart accounts and the trial balance sheets, either within its authorities power of inspection or as a requirement for the collection or compensation of tax credits.

When tax credits from previous periods are compensated, beside sending the entries of the compensating period, it will be delivered only once the corresponding entries to the period in which the credit was originated and declared, provided it corresponds to the month of July 2014 from this point forward

Importance of complying with this obligation

Tax authorities are entitled to determine allegedly the tax profit, income and the value of the acts and activities related to the Value Added Tax when the taxpayers don’t show books and accounting records.

Additionally taxpayers fall into a violation regarding the obligation to keep accounting, if they keep it in a different form as it is legally specified, would be punished with a fine that goes from $260 to $4,790 pesos.