1. Country-Specific Features
  2. Colombia Help Topics
  3. Setting Up Colombia-specific Preferences

Setting Up Colombia-specific Preferences

In NetSuite, set up your company and personal user preferences that are specific to doing business in Colombia.

Colombia-specific Company Preferences

Make sure that your NetSuite role has the appropriate permissions to enable features and set up company preferences specific to Colombia.

To set up Colombia-specific Company Preferences:

  1. In NetSuite, go to Setup > Company > Set Up Tasks > Enable Features.

  2. On the Company subtab of the Enable Features page, under ERP General, check the Multiple Units of Measure box if you want to define multiple units for the purchase and sale of inventory items.

  3. Under International:

    1. Check the Multi-language box if you want to use NetSuite in more than one language.

    2. Check the Multiple Currencies box if you want to use NetSuite for multiple currencies.

  4. On the Analytics subtab of the Enable Features page, check the SuiteAnalytics Workbook box.

  5. Click Save.

  6. NetSuite provides predefined Colombian states and provinces. To add custom states and provinces, go to Setup > Company > States/Provinces/Countries and filter the country Colombia. For more information, see Setting Up States, Provinces, and Countries (only available in English)

  7. Go to Setup > Company > Subsidiaries

  8. Enter your company information and do the following:

    1. In the Taxpayer's Responsibilities field, select the obligations that appear on the company’s RUT issued by the DIAN.

    2. In the Tax Regime FE field, select whether you are liable for the sales tax VAT.

    3. In the Third Party field, designate the company’s name.

    4. The Verification Digit field is calculated following the formula established by the DIAN.

    5. In the Tax Schema field, select the fee identifier corresponding to the company.

    6. In the Invoicing Email field, select the email through which your customers can reply to the electronic invoice sent.

    7. In the Legal Name field, select the name as it appears on the RUT issued by the DIAN.

    8. In the Country field, select Colombia.

    9. In the State/Province field, select one of the provinces personalized or provided by the system.

    10. In the Currency field, select the name of the currency used in Colombia with the ISO currency code “COP” associated.

    11. In the Address tab, enter the company’s business address registered on the RUT issued by the DIAN.

    12. In the Tax Registrations tab, introduce the company’s country, nexus, tax agency, and TIN.

    13. In the Subsidiary Logo (Forms) fields, select the logo images that you want to include in the PDFs generated by the module.

  9. Click Save.

Note:

The Taxpayer's Responsibilities, Tax Regime, Tax Schema, and Verification Digit fields are used for electronic invoicing. Please be aware that these values should meet the values assigned by the DIAN to the company’s TIN.

Note:

The Third Party entity field is automatically populated after an entity is created using the name and TIN values. This field will be used to form the magnetic media reports and could be used to make custom reports in NetSuite.

Note:

Enter the company’s TIN on the Tax Reg. Number field, under the Tax Registrations subtab. Multiple tax register numbers are non-admissible. If more than one tax register number for Colombia is submitted on the tab, only the first one on the list will be shown on the TIN field.

For more information about creating subsidiary records, see Creating Subsidiary Records.

To enable multiple languages in your accounts, see Configuring Multiple Languages.

For more information about setting up company information, see Configuring Company Information.

Colombia-specific User Preferences

You can set up your personal user preferences specific to Colombia.

To set up Colombia-specific User Preferences:

  1. In NetSuite, go to Home > Set Preferences.

  2. On the Set Preferences page, go to General subtab.

  3. In the Localization section, set the following:

    1. In the Language field, select Español (Latinoamérica).

    2. In the Search Sorting field, select Language Specific if you want sorting to follow the alphabetical order of the language you selected.

    3. In the Language of the Help Center field, you can also select Español (Latinoamérica).

    4. If you are using OneWorld account and you defined an accounting context under Setup > Company > General Preferences (Administrator), then the Accounting Context field appears. Select a local accounting context if you want to view the chart of accounts structure and names in the language that you selected.

    5. In the Time Zone field, select “(GMT-05:00) Bogotá, Lima, Quito” based on your location.

    6. In the First day of the week field, select Sunday.

    7. In the Date Format field, select DD/MM/YYYY.

  4. Click Save.

For more information about localizing preferences in NetSuite, see General Personal Preferences.

Displaying Currency

Colombian pesos require the use of decimal fractions, they are usually displayed as COP 1,123.05.

The decimal precision of a currency is determined by the value selected for Format on the Currency record. For example, the United States (English) format has 2 decimal places and the Japan (Japanese) format has 0 decimal places. Decimal precision can not be edited in the user interface. If you need a different decimal precision, contact NetSuite Customer Support for assistance.

For more information, see Currency Decimal Precision, Currency Management, Setting a Base Currency.

General Notices