Tax regulations allow VAT generated on sales that are later cancelled, rescinded or terminated by the customer to be deducted from the total balance due for this tax. For accounting purposes, an account can be created to control this value, which will then be transferred to the form. Next, we will answer the following question: … Read more
The accounting treatment of accounts receivable incorporates different principles, including impairment indicators. These give indications that an item should be impaired or not. Among the indicators is that it is probable that the debtor will go bankrupt. We will now answer the following question: What accounting treatment should be applied to the accounts receivable of … Read more
The process of preparing the ESFA should have been carried out at the end of December 31, 2015, in the case of SMEs. In this editorial we mention some consequences of the convergence to International Standards, and what information an entity must disclose about the adjustments in the ESFA. Based on CTCP Concept 145 of … Read more
In the next five years the Dian will be adding to the digital transformation documents such as the remittance note, accounting books, payrolls, receipts and remittance vouchers. In two years Colombia will have fully implemented electronic invoicing. Although the obligation will begin to operate in Colombia on January 1, 2019 and by September of this … Read more
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