Setting Up Mexico-specific Preferences

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

Mexico-specific Company Preferences

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

To set up Mexico-specific Company Preferences:

In NetSuite, go to Setup > Company > Enable Features.

On the Company subtab of the Enable Features page, under ERP General, do the following:
- Check the Multiple Units of Measure box if you want to define multiple units for the purchase and sale of inventory items.
Under International, do the following:
- Check the Multi-language box if you want to use NetSuite in more than one language.
- Check the Multiple Currencies box if you want to use NetSuite for multiple currencies.
On the Analytics subtab of the Enable Features page, do the following:
- Check the SuiteAnalytics Workbook box.
Click Save.
NetSuite provides predefined Mexican states and provinces. To add custom states and provinces, go to Setup > Company > States/Provinces/Counties. For more information, see Setting Up States, Provinces, and Counties.
If you do not use a OneWorld account, go to Setup > Company > Company Information. Enter your company information and do the following:
1. In the Country field, select Mexico.
2. In the State/Province field, select one of the system-provided or custom provinces.
3. In the Currency field, select the currency name used for Mexico that has the ISO currency code “MXN” associated.
4. In the VAT Registration No, enter the RFC of the company.
5. In the SAT Industry Type, enter the tax regime defined by the SAT to classify the industry type for your company.
6. In the SAT Registered Name, enter the company name as registered in the SAT.
7. Click Save.
Note:
If you use an account with SuiteTax enabled, enter the RFC of the company in the Tax Registration Number, under the Tax Registrations subtab. Multiple tax registration numbers are not supported. If more than one tax registration number for Mexico is added to the sublist, only the first one listed shows in the RFC field. For more information, see the RFC Field topic.
If you are using a OneWorld account, go to Setup > Company > Subsidiaries > New. Enter your subsidiary information and do the following:
1. In the Country field, select Mexico.
2. In the State/Province field, select one of the system-provided or custom provinces.
3. In the Language field, select Latin American Spanish.
4. In the Currency field, select the currency name used for Mexico that has the ISO currency code “MXN” associated.
5. In the VAT Registration No, enter the RFC of the subsidiary.
6. In the SAT Industry Type, enter the tax regime defined by the SAT to classify the industry type for your subsidiary.
7. In the SAT Registered Name, enter the subsidiary name as registered in the SAT.
8. Click Save.
Note:
If you use an account with SuiteTax enabled, enter the RFC of the subsidiary in the Tax Registration Number, under the Tax Registrations subtab. Multiple tax registration numbers are not supported. If more than one tax registration number for Mexico is added to the sublist, only the first one listed shows in the RFC field. For more information, see the RFC Field topic.
Go to Lists > Relationships > Customers > New. Enter your customer information and do the following:
1. In the VAT Registration No, enter the RFC of the subsidiary.
2. In the SAT Industry Type, enter the tax regime defined by the SAT to classify the industry type for the customer.
3. In the SAT Registered Name, enter the company name as registered in the SAT.

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

To enable multiple languages in your account, go to Configuring Multiple Languages.

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

For more information about creating customer records, see Creating a Customer Record.

Mexico-specific User Preferences

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

To set up Mexico-specific User Preferences:

In NetSuite, go to Home > Set Preferences.
On the Set Preference page, go to the General subtab. In the Localization section, set the following Mexico-specific preferences:
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 for the Help Center field, you can also select Español (Latinoamérica).
4. If you are using a OneWorld account and defined an accounting context in Setup > Company > Preferences > General Preferences (Administrator), the Accounting Context dropdown list 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 either “Guadalajara, Mexico City, Monterrey (GMT-06:00), “Chihuahua, La Paz, Mazatlan (GMT -07:00), or “Tijuana, Baja California (GMT-08:00)”; 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.
8. Click Save.

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

Displaying Currency

Mexican Pesos require the use of decimal fractions; it is usually displayed as MXN 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 cannot be edited in the user interface. If you need a different decimal precision, contact NetSuite Customer Support for assistance.

For more information, see the Help topics Currency Decimal Precision, Currency Management and Setting a Base Currency.