Electronic Invoicing in Panama, Tied to Your Due Diligence

Issue the invoice from the same platform where your customer's file lives. Before it goes out, COX checks the file; when it goes out, it becomes a transaction of your compliance registry.

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The invoicing service of COX issues the electronic invoices to your customers in Panama from the same platform that holds their files. Each invoice is checked against the due diligence file of the customer before it is posted, becomes a transaction with its payments, and an invoice to a customer without approved due diligence sends a notice to the compliance officer.

How It Works

Three steps from the customer's file to a transaction with its payments

The customer is checked first

Before an invoice is posted, COX looks for the customer's due diligence file, by the contact linked to it or by its tax identifier, never by the name. A file blocked or denied by the compliance officer stops the invoice, always.

The invoice is issued

The electronic invoice is issued from COX, with the chart of accounts of Panama that COX configures when the service is activated.

It becomes a transaction

The posted invoice becomes a transaction of your compliance registry, with a line per invoice line. When it is paid, each payment becomes its payment line and the transaction is confirmed.

Warn or Block: Your Compliance Officer Decides

Turning the service on does not stop your business on the first day. The officer chooses how strict the check is, and moves it when the portfolio is up to date.

Warn

The invoice goes out and the decision is recorded. The compliance officer receives a notice, by email, so they know business was done with a customer whose due diligence is not approved. This is how the service starts.

Block

The invoice is not posted until the customer's due diligence is approved, and the message names the file and its state. The officer moves to this mode when the portfolio is up to date.

Every check is evidence

Every check leaves a row with the date, the invoice, the customer, the file and its state at that moment, and the result. Nobody edits or deletes it.

What It Costs

A monthly fee for the service, on top of your plan, and a fee per invoice issued. Credit notes are not charged. The month of activation is billed for the days that remain, and without credits the invoice waits until you top up: nothing is issued half paid.

Displayed prices do not include taxes. Taxes may apply depending on your location.

Services and pricing

Frequently Asked Questions

Companies in Panama that use COX for their due diligence. Panama is the country where COX issues a valid electronic invoice today. In the other countries, invoices keep being issued with your current system, and the operation is recorded in COX as a transaction.

The customer is treated as not approved. In warn mode the invoice goes out with its notice to the officer, and the invoice says why it has no transaction until the contact is linked to a file; in block mode it is not posted. A contact matching two files is never guessed: the officer links the right one.

No. COX configures the chart of accounts of Panama so the invoice can be issued, and nothing more. Your accountant keeps your books.

The customer's file, the date, a line per invoice line at its amount with taxes, and, when the invoice is paid, each payment with its date and amount. A payment journal that has no form of payment configured records the payment without inventing one, and says so.

It is not charged. Applied to the invoice, it is recorded on the invoice's transaction as compensated, not as money. When the money is returned to the customer, it becomes a transaction of its own that cites the invoice's.

Invoice From Where Your Due Diligence Lives

Open your account, load your customers and activate the invoicing service from the settings of your company.

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