To know what type of invoice you need to issue and the tax aspects that apply to your business, it is essential that you decide on the legal form that your company will have.
Depending on the country and the way in which the tax authority regulated in your area is organized, you may choose different alternatives to establish your business.
In Argentina, for example, you can opt for a Limited Liability Company ( SRL ) or a sole proprietorship. In Mexico, options include the Sociedad Anónima (SA) and the Sociedad de Responsabilidad Limitada (S. de RL). While in Chile and Colombia, there are other legal figures such as the Empresa Individual de Responsabilidad Limitada (EIRL) and the Sociedad por Acciones Simpliificada (SAS), respectively.
Tip: Learn more about the types of companies that exist in Argentina and which is the best to establish your business.
Once you have defined your legal whatsapp filter form, you will need to determine whether you will register under a simplified regime (such as the monotributo in Argentina) or under the general regime. The simplified regime is usually more suitable for small businesses and offers benefits such as a fixed monthly tax rate. On the other hand, the general regime involves paying each tax individually.
2. Keep up to date with news from AFIP, SAT, DIAN and SII
AFIP (Argentina), SAT (Mexico), SII (Chile) and DIAN (Colombia) are the agencies responsible for administering taxes in each country. All of them require the issuance of electronic receipts for commercial transactions.
Each agency will tell you what type of receipts to issue , how to request them and the different methods and procedures to do so correctly.
Tax regulations are constantly evolving, so it is essential that you stay informed about the latest developments from your country's tax authorities.
Regardless of whether or not you delegate everything related to your business's billing, staying up to date with the latest developments is a good practice that we recommend to entrepreneurs in every corner of Latin America.
Read more: Types of taxes: The best guide to understand them!
3. Analyze billing automation options
The last key to this article has to do with the benefits offered by online billing software , such as the available applications that you can integrate into your online store created with Tiendanube.
If you have connected your e-commerce to one of these systems, you will have the following benefits:
Saving a lot of time, because many of these processes are automatic.
The client receives the invoice in real time.
The concept is detailed because it corresponds to the purchase made.
Sold stock is automatically deducted from your system .
Billing and sales reports can be obtained in one click.
The system runs 24 hours a day and updates itself.
An example of this type of software is Dragonfish (belonging to the company Zoo Logic ), which you can integrate into your online store created with Tiendanube if you are located in Argentina.
Are you in Mexico? You can connect your online store with applications such as Bind ERP or Ventiapp Billing to simplify these processes.
For Colombia, you can work with TFactura Colombia to manage your sales, obtain management and accounting information, and administer services and tasks.
Read more: What are the different types of invoices? Differences, uses and forms of issuance.