Accounting

Accounting, invoicing, tax compliance and payroll.

Accounting, payroll
and tax compliance

In the last two decades, accounting and tax compliance in Mexico has become a complex task, this is mainly due to the tax provisions of 2014 and all those that have been incorporated in recent years, as well as the constant technological changes, complicating the tasks of entrepreneurs to keep their accounting and in turn, that they comply with special tax requirements, in this regard, in the following paragraphs, the individual services or as a whole in which the Firm can support you are described:

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Financial accounting

It consists of recording operations in order to generate accurate and timely information for decision making. The main activities in this service are:

1. Recording of income, expenses and other accounting movements.
2. Preparation and issuance of financial statements (balance sheet, income statement, statement of cash flows and statement of changes in stockholders' equity).
3. Special reports on financial information.

Electronic accounting

Related to the previous paragraph, electronic accounting additionally consists of:

1. Sending the information (balances and account catalogs to the SAT) to which a taxpayer is obligated.
2. Perform the correlations of the accounting policies with respect to the tax receipts (CFDI).

In our experience as a Firm, we have had the opportunity to support companies that perform their financial accounting, but omit to perform the above points, or simply their ERP is controlled and parameterized from a foreign related party, The Company, therefore, lacks elements for purposes of reporting to the Mexican tax authorities.

Federal tax compliance

In matters of federal taxes before the SAT, we can support you by calculating or reviewing with your accountant the determination of your company's taxes (own income tax, own VAT and withholdings of both).

In this service, we can also support you in determining your contributions based on tax receipts in comparison with accounting and banks, This will help you correct errors and anticipate possible requirements from the Mexican tax authority.

Annual statement of the legal entity and its shareholders

By supporting you with your accounting and tax compliance, we are also able to prepare the working papers that serve as the basis for the filing of the Company's annual tax return, as well as to review it if your team or you prepare it.

In this regard, we can also prepare the working papers for filing the annual return of individual shareholders.

Local tax compliance

One of the fiscal obligations inherent to the payroll is the payment of the local payroll tax. In this regard, we can help you file the monthly and/or informative returns in each State to comply with your obligations and avoid fines.

Each State establishes different rules and, therefore, this tax may have different bases for payment.

IMSS tax compliance

In terms of social security, companies must have all the necessary documentation in order to register with the IMSS. This service consists of:

1. Registration and deregistration of workers.
2. Make salary modifications (increases or decreases).
3. Generation of capture lines for payment through SUA or SIPARE.
4. Comparison between monthly and bimonthly emissions (EMAS and EBAS) with the Self-Determination System (SUA), in order to mitigate errors.
5. Updating of the annual risk premium.

Payroll processing

Many companies usually delegate the calculation of payroll: salary, vacations, overtime, discounts, bonuses, severance payments, settlements, etc. to specialized professionals in order to make the company's human resources more efficient, and they usually obtain these benefits:

1. Keep this sensitive information confidential. Internally, only the business owner, treasury and personnel authorized by you will have access.
2. They do not have to hire specific personnel or invest heavily in computer equipment or specialized software.
3. AFB Accountants calculates payroll and taxes, but the client reviews and approves it.
4. We can adapt to the Company's internal process.

Money Laundering Prevention Notices (PLD)

For several years, companies that carry out certain operations must promptly notify the Financial Intelligence Unit of the Mexican Government. In this regard, we mention some of the main activities that are considered vulnerable:

1. Leasing of real estate.
2. Mutual, loan or credit agreements.
3. Purchase and sale of new and used vehicles.
4. Provision of construction services.
5. Issuance of service, credit, prepaid or electronic purse cards.
6. Public faith services (notaries or public brokers).
7. Foreign trade services.

If you or your company is engaged in any of the above activities, it is recommended that you seek advice so that you can give timely notices and avoid fines of millions of dollars that could jeopardize the stability of your business.

Billing

We can support you in the issuance of your monthly invoicing and issuance of payment receipt complements according to the regularity you indicate (daily, weekly or monthly).

This support can consist of issuing the normal invoicing of the sale of your products or services or the invoicing of the general public according to the periodicity you are used to.