Crossgate develops e-invoicing solution for compliance with Mexicos SAT enhancements

In a press conference held on 3 September 2010, Mexico’s SAT announced new compliance laws for electronic invoicing which will take effect on 1 January 1 2011. Many companies are still adapting to the major changes that went into effect in 2009 requiring companies to either obtain invoice forms from the government or adopt an e-invoicing solution to replace traditional paper invoices.

The new compliance mandates being instituted next year in Mexico is set to eliminate folio numbers which are replaced by digitally signing and archiving an invoice with a valid timbre number; require regulatory compliance checks with government certified organizations for both senders and receivers of invoices; and require the digital approval of invoices in excess of 2,000 pesos.

Companies will be required to integrate with the SAT for invoice approvals in real time. Outgoing invoices must be prepared in a specific XML format and authorized in advance as part of the logistics process before shipments can be delivered. Similarly, incoming invoices must be externally validated, then archived and stored.

Crossgate’s B2B 360 Services and e-Invoicing Network allows companies around the world to comply with government regulations in 38 countries including Mexico, Brazil, Argentina, Chile and the European Union.