Accounting for companies operating in Mexico
The Mexican close and the report to the parent company are two different deliverables that fall due in the same month and are delivered together.
- Bookkeeping under Mexican Financial Reporting Standards
- Bank and electronic invoicing reconciliation for the period
- Chart of accounts aligned with the one your parent company consolidates
- Trial balance, income statement and balance sheet for the month
- Electronic accounting and its filing with the tax authority
Why the chart of accounts matters from day one
If the Mexican accounts do not map to the ones your corporate office consolidates, someone reclassifies every month. That work appears in no quote and gets paid for anyway. I build the chart with the final report in mind, not only the local requirement.
What you receive each month
Trial balance, income statement and balance sheet, with the comparison against the previous month and against the year to date. If your parent company asks for its own format, I deliver in that format.
If you are coming from another firm
I take the books wherever they are. I review what was filed during the year, tell you what I found, and take the next month from there. I do not charge for that initial review.
