Are you ready for invoice 4.0? With the new Digital Tax Receipt via the Internet (CFDI) 4.0, electronic invoicing in Mexico has taken a great leap toward efficiency and quality in issuing tax receipts. And it is mandatory from April 1, 2023.
In this article, we offer you a complete guide on invoice 4.0, from the necessary steps for its correct issuance to the requirements and obligations you must comply with. So stay with us and discover how you can invoice with this system!
Steps to Invoice 4.0
There are different platforms for billing, however in this article we will focus on the SAT portal. The process to invoice electronically with CFDI 4.0 on the Tax Administration Service (SAT) platform consists of the following steps:
1. Enter the SAT website.
2. In the site’s main menu, click «Electronic invoice» and «See more.»
3. You will find several tabs available. Click on «Billing Services.»
4. The list of tab options is displayed. Find and click on “CFDI billing service version 4.0.”
5. A new screen opens. Click the orange «Run online» button.
6. Enter the portal with your RFC, password, and e.firma.
7. Now click on the settings icon (the cogwheel).
8. Save all your data and the data of your most frequent customers.
9. Go to «Products and Services» and click the blue «Add» button.
10. Fill in all the requested data, such as product, quantity, and unit value.
11. Add the client with all their data and click «Add client.»
12. Now click on «Generate» and «New Invoice.»
13. The system will show you all the data of the invoice. You can take advantage of changing something if you need it.
14. Add the taxes suggested by the system. Next, click «Save changes.»
15. The final screen will appear with several buttons. Select «Seal» to proceed to seal your invoice.
16. Then click «Confirm.»
17. Done. You can save the invoice in PDF if you wish.
Benefits of invoicing electronically with CFDI 4.0
Electronic invoicing with CFDI 4.0 provides a series of aids for both companies and customers; Among the main benefits, we have reduced costs related to printing and sending paper invoices. We can also mention the management and storage of physical documents.
In addition, this procedure is more efficient in issuing, sending, and receiving invoices, which allows companies to save time and resources in managing their tax transactions.
Another substantial profit is the guarantee of genuineness and security in fiscal transactions thanks to digital signature and the digital seal; it reduces the danger of fraud and mistakes in issuing invoices. Likewise, it allows better control and real-time monitoring of transactions, enabling companies to have superior control over their operations.
Invoicing 4.0 facilitates compliance with tax obligations since it meets the requirements established by the entity in charge of the country’s tax administration.
Requirements and duties to invoice 4.0
The SAT establishes detailed tax requirements for electronic invoicing with CFDI 4.0 that taxpayers must meet. Some of these are:
• The current Digital Seal Certificate issued by the SAT is necessary for issuing electronic invoices.
• Issue vouchers in XML format according to SAT provisions.
• The tax receipt, the folio number, its series, and the date and time of issuance.
• The code of the Federal Taxpayer Registry (RFC) of both the issuer and the receiver and the code of the product or service being billed.
• Total amount of the operation, breaking down the corresponding tax.
• The issuer’s electronic signature and digital stamp on the tax receipt.
Failure to comply with these tax requirements may generate tax and administrative sanctions. Therefore, each user must comply with all the requirements established for electronic invoicing with CFDI 4.0.If you have questions about how to bill 4.0, at PCP Consultores, we can help you; We offer accounting and tax services and advise our clients on everything they need. Contact us!
