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e-Invoicing in Colombia

What is e-Invoicing in Colombia ?

January 1, 2019 sees the start of a new phase for e-Invoicing in Colombia. From that date, all those responsible for declaring VAT and Impoconsumo will be obliged to use this new system, according to the changes made in the latest tax reform.

What is the Colombian e-Invoicing System?

DIAN announced in 2016 the Implementation of the e-Invoice
It’s estimated that around 800.000 companies and natural persons will be working with e-Invoices by January 2019
Implemented within the Clearance System
in XML-Format and in UBL (Universal Business Language) v2.0
Deadline: E-Invoices need to be sent to the DIAN within 48 hours from the moment of signing
Companies correcting/voiding e-invoices must do so via credit or debit notes within 48 hours
Digital signature to authenticate the integrity of the invoice.
Fiscal control by unique code for the electronic invoice identification number, called a CUFE

What are the benefits of the e-Invoice?

Strengthen traceability, transparency and comprehensibility
3 principles: authenticity, integrity and availability
Improves security
Accelerate and increase efficiency of administrative processes
Integration of mission, logistic, accounting, financial and administrative processes
Deletion of risk of loss of documents
Simplify transactions and improve document management and collection management
Digital signature is an element that guarantees the integrity, authenticity and non-repudiation of the electronic invoice
Savings in printing, dispatch and storage costs

e-Invoicing in Colombia

  • Integrated with Tax Authority

  • No Effects on SAP Standards and Upgrades

  • Easy to Integrate with SAP Standard Modules

  • Same Platform for Financial and Regulative Data

  • Fully Customized Reports and Notifications

  • Easy Error handling

  • Bug Fixes and New Features

  • Less Implementation Cost for Feature

  • No need any additional User and Platform to manage the Process

  • Detailed Documentation for Self-Implementation

  • Tailor-Made Interface Adaptation with User Exits

  • End to End Integration Project

  • Fast Adaptation to Regulation Changes

How to get started

Contact Foriba for a detailed live demo on our SAP environment. Our experts could provide both remote and on-site demonstrations.

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