When you decide to run a business, you want to have all the necessary tools to have a good administration and control of it, the invoice is an important element in marketing. Therefore, here we will teach you all the Requirements for Invoicing.
What are the requirements to invoice?
The invoice is a legal commercial receipt that records and legalizes that a service or product has been provided or received. In the invoice, all the data and description of the operation are identified and the issuance of the same is mandatory for good compliance in commercial operations.
The issuer of said payment invoice must meet a series of requirements to be able to invoice, take into account each one of them and remember to be up to date with tax commitments. For more information see the following link.
As a trader or autonomous company you can make invoices in a practical and simple way, you can guarantee yourself with electronic invoices that provide security in all the operations that you register. Requirements that you must issue:
Requirements for Invoicing: Registration in the RFC
With a prior online appointment through the SAT portal, personally bring the following precautions to the corresponding office:
- Identity card or CURP.
- Original and copy of the naturalization letter in case you are Mexican by naturalization.
- In case of being of another nationality, passport or valid document that certifies immigration status.
- Certification of tax address and work activity in which it works.
- Current official identity of the taxpayer or in the case of the attorney-in-fact.
- Consign a document stating the applicant’s approval to register with the RFC and the issuance of the invoice that certifies the commercial activity.
Requirements for Invoicing: about the Electronic Signature
- Process the electronic signature, for this you must make a request to the SAT registry office closest to your home and consign these attachments with the file:
- Photography from the front and capture of the ocular iris.
- Fingerprints and signature.
- CURP email address and mass storage center.
- When the process is completed, the signature is provided, with which you can make other administrative records.
How is an Electronic Invoice Generated?
The issuance of the CFDI, the merchant prepares the electronic invoice in its internal billing system, which has been originated in accordance with the provisions of the law for the issuance of a CFDI.
This must be created in an XML format file, with the digital seal certificate or CSD of the merchant and carried out by the SAT.
The same merchant will carry out this file, the CFDI refers to be registered in SAT. This reference is processed through a secure communication channel to the data unit of the authorized body.
Later comes the Validation of the issued CFDI, in which the Digital Commerce unit admits and verifies the document. For more information visit the following Web.
Requirements for Invoicing: What information is recorded?
First stage
The duration between the date of dispatch of the document and the date of receipt of the document for registration does not exceed 72 hours. That the document does not present prior legalization.
The authenticity of the fingerprint certificate (CSD) at the time the document was made, verify that the CSD matches the merchant data issuing the document.
Confirm that the document format is within the technical requirements issued in the current miscellaneous tax resolution.
Second stage
Already with this registered comes the Certification of the Voucher, already validated they respond to the merchant, attaching the «Fiscal Folio» titled as UUID, indicating the date and time of the certification, the fingerprint and SAT certificate, also the stamp of the stamp.
Subsequently, we enter the CFDI Declaration in the «Digital Commerce» unit, acting as PAC, it is associated directly with the SAT, fully declaring the CFDI that have been certified in the stipulated period in less than 72 hours. This step frees the merchant from compiling monthly reports.
CFDI is generated to the issuing merchant, through electronic means via the internet created for this type of process. The taxpayer or merchant will save in their electronic support to have the CFDI printed with the respective records.
Once the previous phases have been completed, the Sending of the CFDI to the receiving merchant is prepared. This step can be through the sender’s email address from the issuing merchant’s internal billing system, or it can also be through the information on the website of the “Digital Commerce” unit, where it will be available to the taxpayer. or receiving merchant and carry out your digital download.
CFDI electronic invoices
It is important to know that the CFDI is the Digital Tax Receipt by Internet. Gathering the Electronic Documents that were validated by the SAT and it is necessary for the applicant to have the CSD Digital Seal Certificate, processed from the SAT portal to be able to prepare the electronic signature of their paperwork.
Said records represent for Taxpayers or independent merchants, added confidence and savings when issuing invoices. You also have excellent controls in the administrative management of your business.
As for the legality of CFDI, they comply with the policies established by law and have validity, legitimacy and integrity in their subject, equivalent to the usual proofs.
In particular, greater legal firmness is generated and the trances due to fraud are reduced, as well as the fiscal leakage that originates the falsification of vouchers.
Another series of CFDI, we also observe the invoices, the receipts generated by professional and personnel fees on payroll. It involves credit and debit notes, withholdings and payments generated by taxes.
Importance of Billing
Merchants are obliged to issue invoices, to fully verify the total of their sales or accounting activities before the tax authorities.
Likewise, consumers or clients have the right to demand them to assert deductions on their tax returns, given in some cases a tax refund is required at the close of the fiscal year.
What is it?
Commercial document with tax information, which originates from the commercial relationship between a seller and a buyer, which describes the characteristics of the merchandise purchased or the services received, along with its quantity and amount, is delivered to whoever performs the payment.
The entrepreneur or self-employed person is obliged to issue invoices for the sale of goods or services. They are even required to make advance payments, except in the case of intra-community sales of exempt goods. The issuer of the invoice must continually support himself with a copy and deliver the original to his client.
Indeed, the entrepreneur or self-employed are subject to issue an invoice in the following cases:
- Your client is another entrepreneur or self-employed.
- Your client requires it for tax purposes.
- In the commercialization of goods that are exempt from VAT, except in duty-free stores.
- For intra-community operations.
- Your client is a public administration entity or a legal person that is not an entrepreneur or self-employed person, in this situation an electronic invoice must be provided.
- In the sale of goods or assembly or installation services before being made available in the territory where the tax originates.
- For sales that take place at a distance and sales tied to special taxes.
Information that an invoice should have
The invoice must be structured with several basic data, necessary for its validity:
- Serial or invoice number, correlative to the numeral order.
- Identity of the business name of the buyer and seller, either a company or a natural person.
- NIF of the buyer and seller with their fiscal address.
- Transaction date.
- Transaction date when it does not coincide with the issuance date.
- Detail of the good or service.
- The unit value and the pre-tax value of each item of the goods or services.
- If there is any discount or advance, name it.
- Taxes, VAT and the rate that is applied as well as personal income tax.
- The tax figure.
- The total calculation.
- If the invoice is free of VAT, the observation is placed, citing the VAT law and the article for which it is exempt and contemplates it.
For all citizens as taxpayers of a country it is of the utmost importance to make invoices, the establishment of this regulation is a merit, having control and monitoring of accounting in a systematic way, originating transparency in daily transactions in the companies that make up the commercialization of goods and services.
Years ago with paper invoices, taxpayers with tax obligations had large amounts of invoices filed on paper, exposing themselves to losing the companies’ accounting, in addition to generating high storage costs and relevant delays in the control and administration processes of payments.
At present, companies are increasingly controlled in their transactions due to the effectiveness of electronic invoices.