Colombia Help Topics

Overview

The following help topics provide information about NetSuite features that are specific to companies doing business in Colombia. The NetSuite International Edition can be configured with capabilities and reports specific to a Colombian business setting and requirements.

To know more about localized editions of NetSuite, as well as setting up NetSuite accounts and subsidiaries, refer to the following help topics:

NetSuite Editions Overview
Set up NetSuite OneWorld
Creating Subsidiary Records
Introduction to NetSuite OneWorld — for companies using NetSuite across multiple subsidiaries and countries

Please note that general NetSuite features are covered in other chapters and topics.

Required Licenses

To install Colombia Localization SuiteApp, you must obtain NetSuite SuiteApps License Client and have a OneWorld account installed.

To access the features of the Colombia Localization SuiteApp:

Install the NetSuite SuiteApp License Client (Bundle ID 116144)
Obtain a license for the Colombia Localization SuiteApp — Contact your account manager, who will arrange for a license to be generated.
Verify that the NetSuite SuiteApp License Client has the license “NetSuite Colombia Localization.”

If the license client is not installed or your license expires, you will not be able to use the features of the SuiteApp. For more information see NetSuite SuiteApps License Client Guide for Administrators

Contact your account representative to reinstate any state licenses.

General Setup

Setting Up Colombia-specific Preferences: Set up your NetSuite company and user preferences for Colombia, including date, currency, language, time zone, and support for Colombian number, phone, and address format.

To learn more about SuiteApps installation, see Installing a Bundle or Installing from the SuiteApp Marketplace.

To learn more about enabling NetSuite features, see Enabling Features.

Important:

If you do not have sufficient permissions to install SuiteApps or enable features, please contact your account administrator.

Accounting

Subarea	Feature	Description	Prerequisites
General Accounting	Colombia Localization Field Mapping Setting up CO Account Mapping Custom Record	The Colombia Localization Field Mapping feature enables you to map standard NetSuite fields to categories required by DIAN. Mapped values are included in the Magnetic Media Information Files and Colombia Electronic Invoicing.	Install the Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation.
Magnetic Media Information	Magnetic Media Information Formats	In Colombia, taxpayers must present their Magnetic Media information or magnetic media. That is the group of data about the operations with customers, vendors, or third parties that individuals and legal entities must present periodically to the tax administration.	Take into account: Technical- administrative requirements Magnetic Media information setup

Subarea

Feature

Description

Prerequisites

General Accounting

Colombia Localization Field Mapping

Setting up CO Account Mapping Custom Record

The Colombia Localization Field Mapping feature enables you to map standard NetSuite fields to categories required by DIAN. Mapped values are included in the Magnetic Media Information Files and Colombia Electronic Invoicing.

Install the Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation.

Magnetic Media Information

Magnetic Media Information Formats

In Colombia, taxpayers must present their Magnetic Media information or magnetic media. That is the group of data about the operations with customers, vendors, or third parties that individuals and legal entities must present periodically to the tax administration.

Take into account:

Technical- administrative requirements
Magnetic Media information setup

Billing and Invoicing

Subarea	Feature	Description	Prerequisites
Order to Cash	Compliance with Colombia DIAN requirements	The Colombia Localization SuiteApp enables compliance with specific legal requirements established by the DIAN to issue Magnetic Media information files and electronic invoices in Colombia. Most of the latest catalogs from the DIAN and other legal requirements are captured in the Colombia Localization custom fields.	Install the Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation.
Electronic Invoicing	Outbound Electronic Invoicing for Colombia	The Colombia Localization SuiteApp includes by default integration with Technological Service Providers (Dispapeles, Gosocket, and Facture) to fulfill electronic invoicing as required by the DIAN. You can generate outbound e-documents of transactions supported for Colombia and associate e-document templates and sending methods included in the Colombia Localization SuiteApp.	Install the following SuiteApps: Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation. Electronic Invoicing. For more information, see Electronic Invoicing and Installing and Setting Up Electronic Invoicing.

Subarea

Feature

Description

Prerequisites

Order to Cash

Compliance with Colombia DIAN requirements

The Colombia Localization SuiteApp enables compliance with specific legal requirements established by the DIAN to issue Magnetic Media information files and electronic invoices in Colombia.

Most of the latest catalogs from the DIAN and other legal requirements are captured in the Colombia Localization custom fields.

Install the Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation.

Electronic Invoicing

Outbound Electronic Invoicing for Colombia

The Colombia Localization SuiteApp includes by default integration with Technological Service Providers (Dispapeles, Gosocket, and Facture) to fulfill electronic invoicing as required by the DIAN. You can generate outbound e-documents of transactions supported for Colombia and associate e-document templates and sending methods included in the Colombia Localization SuiteApp.

Install the following SuiteApps:

Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation.
Electronic Invoicing. For more information, see Electronic Invoicing and Installing and Setting Up Electronic Invoicing.

Purchasing

Subarea	Feature	Description	Prerequisites
Vendor Bill	Support document setup for people not liable for VAT	This document confirms the purchase of a product or service, and the buyer must generate it when doing transactions with a vendor who is not obligated to issue a sales invoice or an equivalent document.	Install the Colombia Localization SuiteApp. For more information, see Installing the Colombia Localization SuiteApp
Vendor Bill Expense Report	Manual third-party assignment	It informs about the account payments or deposits through a third party. For petty cash, contract of mandate invoices, expense reports, travel expenses, where the account payable must be registered under a third party and the line-item expenses under other related third parties, check the Manual Third-party Assignment box. This feature allows third parties assigned in the Third Party Entity” field to be reported in the Magnetic Media information. Important: Make sure the Third-Party Entity field is enabled for all the transaction forms both at a line and header level. Note that when doing an expense report through a CSV import, you should check the Manual Third-party Assignment box, so that the third party can be assigned during the transaction in the Third Party field.	Install the following SuiteApps: Colombia Localization SuiteApp. For more information, see Installing the Colombia Localization SuiteApp After the SuiteApp is installed, it is necessary to configure the custom GL Plug-In CO/Reclassification Taxes by clicking the configure button. Here all the transactions and subsidiaries must be selected. Then after saving the configuration under the Manage Plug-In Implementations screen, the plug-in must be selected and the setup saved for a correct behavior.

Subarea

Feature

Description

Prerequisites

Vendor Bill

Support document setup for people not liable for VAT

This document confirms the purchase of a product or service, and the buyer must generate it when doing transactions with a vendor who is not obligated to issue a sales invoice or an equivalent document.

Install the Colombia Localization SuiteApp. For more information, see Installing the Colombia Localization SuiteApp

Vendor Bill

Expense Report

Manual third-party assignment

It informs about the account payments or deposits through a third party. For petty cash, contract of mandate invoices, expense reports, travel expenses, where the account payable must be registered under a third party and the line-item expenses under other related third parties, check the Manual Third-party Assignment box. This feature allows third parties assigned in the Third Party Entity” field to be reported in the Magnetic Media information.

Important:

Make sure the Third-Party Entity field is enabled for all the transaction forms both at a line and header level.

Note that when doing an expense report through a CSV import, you should check the Manual Third-party Assignment box, so that the third party can be assigned during the transaction in the Third Party field.

Install the following SuiteApps:

Colombia Localization SuiteApp. For more information, see Installing the Colombia Localization SuiteApp

After the SuiteApp is installed, it is necessary to configure the custom GL Plug-In CO/Reclassification Taxes by clicking the configure button. Here all the transactions and subsidiaries must be selected. Then after saving the configuration under the Manage Plug-In Implementations screen, the plug-in must be selected and the setup saved for a correct behavior.

Note:

The CO/Reclassification Taxes GL Plug-in is deployed over the Vendor Bill and Expense report transactions to reclassify the GL Impact movements to a third-party entity. They are later reported on the Magnetic Media Reports to meet the DIAN requirements.

Taxation

Subarea	Feature	Description	Prerequisites
Tax Setup	Colombia Tax Setup	Set up tax preferences for Colombia.	Install the following SuiteApps: Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation. SuiteTax Engine. For more information, see Installing the SuiteTax Engine.
Colombia Tax Codes	NetSuite uses Colombia tax codes to get the values for the generation of Colombia Magnetic Media information.

Subarea

Feature

Description

Prerequisites

Tax Setup

Colombia Tax Setup

Set up tax preferences for Colombia.

Install the following SuiteApps:

Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation.
SuiteTax Engine. For more information, see Installing the SuiteTax Engine.

Colombia Tax Codes

NetSuite uses Colombia tax codes to get the values for the generation of Colombia Magnetic Media information.

Reporting

Subarea	Feature	Description	Prerequisites
Financial Statements	Financial Reports for Colombia	Reports in NetSuite support Colombian layouts for submitting financial information as required by Colombian laws, and most used accounting processes.	Install the Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation, Installing the Colombia Localization SuiteApp and Setting up Financial Reports for Colombia.

Subarea

Feature

Description

Prerequisites

Financial Statements

Financial Reports for Colombia

Reports in NetSuite support Colombian layouts for submitting financial information as required by Colombian laws, and most used accounting processes.

Install the Colombia Localization SuiteApp. For more information, see Colombia Localization SuiteApp Installation, Installing the Colombia Localization SuiteApp and Setting up Financial Reports for Colombia.

Important:

If you do not have the necessary permissions for the Custom Lists and Records, contact the administrator.

General Notices