On 1 December, the deadline stipulated by the General Tax Directorate (DGI) for companies with annual sales equivalent to just over $ 14 million (4,000,000,000 UI) to enter the electronic invoicing regime expires.
According to informal figures, it is estimated that some 16,000 companies have to enter this period - the state agency set a timetable for incorporation according to sales volume.
In short, what aspects must be taken into account in order to do so? First of all, understand that it is mandatory and the regulatory body requires this deadline to apply. In the case of non-compliance, the DGI can impose fines and penalties on the company.
However, it offers certain tax benefits to encourage its adoption. Specifically, the company can deduct what is invested in 50% of Income Tax on Economic Activities (IRAE), such as the purchase of software, servers, equipment, among others.
In addition to this, there are independent rewards for improving the company's internal management. An electronic invoice is an invoice that is issued and received in electronic format and has the same legal validity as the traditional printed paper. This modality eliminates the process of printing, distributing and filing the document, and also simplifies administrative processes. It also allows the customer and the service provider to obtain real-time information from the organisation.
"In short, joining the electronic invoicing regime, beyond avoiding fines and tax benefits, includes the advantages of invoicing in a simpler and more efficient way," said Roni Lieberman, director of Memory, a local leader in offering this type of technological solutions for small and medium-sized enterprises (SMEs).
He added that this is an ideal time for SMEs to take advantage of the opportunity to make a technological change or update. "They are already taking advantage of this electronic invoice to make the leap they have been wanting to make for a long time," he said.
Approval process
Memory is one of the companies authorised by the DGI to carry out rapid homologation, within 48 hours. To carry out this process, a digital certificate is required, which can be purchased from Abitab. However, in order to process it, a series of notarial documents are requested which, among other things, certify which the company is and who is authorised to represent it. Once the seal has been obtained, the certificate is installed on the computer that will be connected to the DGI.
Due to the complexity of the process, Memory offers a service that takes care of the entire process, at no additional cost. Its staff includes notaries who carry out the process and professionals in the technological area to include the certificate in the network.
"We do not charge you any additional costs for this service, you only have to pay the cost of the certificate and the notary fee. Our aim is not to make money, but to simplify the process for you so that you can quickly enter the system," said the director.
Changing the work process may seem a bit complicated. In order to get used to this system, the DGI gives a period of time afterwards for the company to adapt to this working methodology.
Assessing the options
At present, there are a number of companies offering electronic invoicing. At the same time, new entities have recently emerged to take advantage of the great demand for these services by offering their solutions. However, it is important to think carefully about which one to choose.
Today on the Internet it is very easy to look like a consolidated and serious company, just by having an attractive website. But you have to understand that the company you buy the product from is 100% entrusted with your invoicing and, in case it doesn't work well, you are not invoiced. In addition to providing you with all the billing and purchasing information, Lieberman stressed.
"We get a lot of customers who bought the service from companies that were there at the time and are no longer there today," he said.
One of Memory's differentials is its experience of more than 30 years in the local market and being a leader in the SME segment. This allows it to know the needs of its potential customers to perfection. "At the product level, we have the whole spectrum of solutions that the market requires, from prices to functions," he remarked.
From less than $2,000 + VAT per month one can purchase their services. In addition, they have a free product for accountants, Memory's historical references, so that they can invoice electronically for free and stay connected with their clients.
They also provide after-sales follow-up through a quality department that follows up each case one by one to verify that they are actually completed. On the other hand, they have extensive experience in how an SME works so that any of their technological solutions work well.
"Why choose Memory? Because it means trusting the market leader, and this is not by chance, but has been perfected over a long period of time. Over time we have made mistakes, corrected them, learned from them and thanks to that, today we are where we are. It is a whole that makes a big difference", the businessman said.
More than 50,000 Latin American companies choose Memory
Memory is the leading Uruguayan company in software to improve the administrative and accounting management of SMEs, with 30 years of experience and constant innovation.
Its position is undisputed: more than 50,000 Latin American companies use Memory software; it was distinguished as the Most Innovative Uruguayan Company; Endeavor Company of the Year; it presided over the Chamber of Technologies in six different periods; it is a case study in numerous national and international universities (especially MIT in the USA), and its trajectory has been highlighted by international media such as CNN, América Economía and Entrepreneur Magazine, among others.
It has a Research and Development Centre located in Montevideo, as well as a Service Department and Contact Centre to ensure an adequate level of service to its customers with coverage in all 19 departments. In addition, it has a Quality Centre to ensure the satisfaction of the end customer, with a personalised follow-up of each management.
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