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This article provides a description of the Latin America (LATAM) parameter configuration. Use these parameters to incorporate the general parameter setup into the local parameters before you start the corresponding configurations.
Prerequisites
- The Global LATAM taxes feature must be enabled.
- The company must be in a country/region that supports the LATAM localization.
Set up previous LATAM configurations
Go to Organization administration > Setup > LATAM > LATAM parameters.
On the General tab, enter the character length for the prefix field for Document class types and Document class letters.
On the Functionalities tab, activate the following options as required.
Option Description Enable additional authorization code Activate an additional field in the Sales CA form. Enable sales return account Activate the alternative ledger account for return sales orders. Enable project return account Activate the alternative ledger account for return project sales. On the Mandatory document class in journal tab, activate the options for each group as required. When you activate an option, the Document class field in the LATAM extended information from journal entries becomes mandatory.
On the Value tab, update the following fields to configure how payment methods behave with transactions.
Field Description Save record of bank documents Save information about bank type values. Save record of cash transactions Save information about movements of cash type values. Save record of withholding taxes performed Save information about the values of withholding taxes that are performed. Save record of withholding taxes suffered Save information about the values of withholding taxes that are suffered. Save record of other movements Save information about others value types. Update "Status" field for checks in possession Use different statuses for payment method documents, including third-party checks. Update "Reason" status for conciliated transactions Use the reason that's selected in the Reason code for Conciliated Status field in bank reconciliations. Reason code for Conciliated Status Select a reason that's configured in Master of Financial Reasons for the lines of the Bank account type. Remove IBAN field validation Don't use the native validation of the IBAN field in the bank account master. Show payment transactions Hide value documents while transactions are settled. On the Dimension allocations tab, enable the addition of third-party information as a dimension in transactions.
Field Description Enable value creation in third-party dimension Automatically create a third-party dimension code of the country/region tax ID number for the client or vendor that's assigned in a transaction. Name Select the dimension that's used to replicate the third-party country/region tax ID number. Enable allocation of third-party dimension in customer/vendor When the vendor or customer LATAM information is completed, the country/region tax ID number is assigned in the selected third-party dimension. Inherit dimension to journal lines Replicate the third-party dimension information of the client or vendor on the voucher header on the other lines of the journal. Include values, if they're blank. On the Concepts and Notes tab, enter information together with the labels that are required in the following master records: vendors, legal entities, bank groups, contacts, and employees.