Services Colombia

Subscription

Accounting & bookkeeping for Real Estate investors

Notes:
- * Once the number of sales invoices exceeds the limit included in your selected plan, we recommend transitioning the issuance of sales invoices to you or your property manager to ensure greater operational flexibility and the ability to respond quickly to your clients as your business grows. Should you wish us to continue handling additional invoices beyond this limit, additional per-invoice fees may apply.
- ** Property-based cost center option: detailed monthly recording of expenses per property. (Included for up to 5 properties under the stated plan. Additional properties may be subject to an extra fee.)
- We recommend having a monthly revenue of USD 4,000 to ensure this plan is a good fit for your business.
- Before purchasing your package, schedule a meeting with us to analyze the specifics of your case and ensure you choose the best option for your needs.

Extra Value for Your Business

· At Whole, we include Odoo’s accounting software as part of our plans, so you can easily manage your bookkeeping at no extra cost.
· In addition, we provide our accounting management tool that processes your financial data and equips you with more insights and resources to stay in full control of your information.

Do you want know more about our services?

Let’s Talk! Book a consultation to understand how we can help meet your accounting needs.

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Subscription

Payroll

Note: Before purchasing your package, schedule a meeting with us to analyze the specifics of your case and ensure you choose the best option for your needs.

Social Security

EVERY MONTH, companies must report updates and process contributions to social security and parafiscal funds to comply with the requirements of the UGPP (Pension and Parafiscal Management Unit). This entity is one of the most demanding and vigilant in ensuring compliance with employee payments. If you want to guarantee accurate compliance and contribution processing, Whole is here to help you maintain the peace of mind you need to focus on your company’s growth.

One-time fee

Social Security Enrollment

For first-time Social Security registration in Colombia, your company must be affiliated with the required general services, including health insurance, pension plans, a family compensation fund, and professional risk administration. This registration for the company is completed once. However, each employee must be individually registered with these services to ensure compliance with Colombian regulations. Our service streamlines the process, handling both the company’s one-time registration and the individual registrations for your employees.

We manage

Accounting Information Mgmt

We provide expert advice and management of accounting information related to your company’s economic activities, ensuring continuous support in the registration and organization of your financial records.

Payroll and Benefits Settlement

We oversee the calculation and settlement of payroll and social benefits, ensuring that your employees receive what they are entitled to, accurately and on time.

Electronic Sales Invoicing

We handle the preparation and issuance of electronic sales invoices, ensuring full compliance with local regulations in both Colombia and the USA.

Electronic Payroll preparation

Our team manages the preparation and processing of electronic payroll, guaranteeing accuracy and adherence to legal requirements.

Monthly Social Security Payroll Liquidation

We manage the monthly liquidation of Social Security payroll obligations, ensuring timely and accurate compliance with legal requirements.

Digital Organization

We ensure all accounting information is meticulously organized in digital files, making access and management seamless and efficient.

Social Security

We manage the affiliation of your company and its employees with the social security systems in both Colombia and the USA, ensuring compliance with all relevant laws.

Financial Statements Presentation

We prepare and present financial statements, including the Income Statement, Statement of Financial Position, and Statement of Comprehensive Income, providing clear insights into your company’s financial health.

Annual Tax Filing

For contracts extending into the next fiscal year, we take care of the preparation and filing of annual taxes such as Income Tax, Industry and Commerce Declaration, and updates for Chamber and Commerce, along with the presentation of exogenous information.

Tax Preparation and Filing

We handle the preparation and filing of applicable taxes on a monthly, bimonthly, and quarterly basis, including Withholding Tax, VAT, and other regional taxes for both Colombia and the USA, ensuring you meet all deadlines and obligations.

Frequently asked questions.

FAQ’s

About our services

How are payments and adjustments handled for my subscription if I start mid-month or need additional features later?

When you subscribe, payments are debited on the 5th of each month. The first month’s fee is prorated based on the remaining days of that month only if there are no service movements during the current month. If you need additional features in the future, you can upgrade your plan, and the cost adjustment will take effect in the next billing cycle. Note: Applicable only to bookkeeping and accounting services.

Can I upgrade my subscription at any time?

Yes, you can upgrade your plan anytime. Changes will be applied from the next billing cycle, and any differences will be adjusted accordingly.

Do you offer refunds if I cancel mid-month?

No, once the subscription is activated, each month is billed in full.

What happens if my payment fails?

If a payment fails, you will receive a notification. We will attempt to process the payment again within the next few days. Access to services may be restricted until payment is completed.

Are discounts available for annual subscriptions?

Yes, we offer discounts for customers who choose an annual subscription.

Accounting FAQ’s

Is it possible to have a bookkeeping-only service without including accounting or tax-related services?

In Colombia, we do not offer standalone bookkeeping services without including accounting and tax-related support. This is because bookkeeping is closely tied to the accounting process and compliance with local tax regulations, which requires a more comprehensive approach to ensure accurate financial management and adherence to the law.

What are the main accounting standards used in Colombia?

Colombia follows the International Financial Reporting Standards (IFRS).

What is the fiscal year in Colombia?

The fiscal year is from January 1st to December 31st.

What is the VAT rate in Colombia?

The standard VAT rate is 19%, but reduced rates apply to certain goods and services.

How often should I file financial statements or forms in Colombia?

Financial statements must typically be filed annually, although tax returns are filed monthly or quarterly depending on the company’s activity (Withholding tax forms, VAT forms, ICA forms, Annual, Tax others).

Social Security FAQ’s

What are the mandatory contributions to social security in Colombia?

Employers and employees must contribute to health, pension, and occupational risk funds.

What is the employer’s contribution rate for social security?

Employers generally contribute 12% to pensions, 8.5% to health, and between 0.52% and 6.96% for occupational risks, depending on the level of risk.

If I am a foreign citizen with employees in Colombia, do I need to pay social security for them if I hire them through my company?

Yes, if you hire employees in Colombia through your company, you are legally required to pay social security contributions. These include health insurance (12.5% of salary, with 8.5% paid by the employer), pension contributions (16% of salary, with 12% paid by the employer), occupational risk insurance (percentage varies by job risk, fully paid by the employer), and family compensation fund contributions (4% of salary). These payments are mandatory and must be made monthly through the PILA system. Non-compliance can lead to fines and legal issues for your business.

What happens if a company fails to pay social security contributions?

Non-compliance can result in fines, legal sanctions, and the inability to deduct labor expenses for tax purposes.

How are social security payments made in Colombia?

Payments are made through the Integrated Contribution Payment System (PILA).

Do I need to meet any requirements to register my company for social security in Colombia?

In the United States, we do offer standalone bookkeeping services without including accounting or tax-related services. This flexibility allows businesses to maintain accurate financial records while managing their accounting and tax needs independently or through other providers.

Payroll FAQ’s

What are the minimum wage and benefits in Colombia?

The minimum wage for 2025 is COP $1,423,500 (subject to annual updates), plus a mandatory transportation allowance.

How often are employees paid in Colombia?

Employees are typically paid bi-weekly or monthly, depending on the contract.

What are the mandatory payroll deductions in Colombia?

Deductions include contributions to health, pensions, solidarity funds (for high salaries), and withholding taxes.

What are the employer’s obligations regarding severance pay?

Employers must provide severance pay (cesantías) and an annual interest payment of 12% on the severance amount.

Do employers need to provide additional benefits such as bonuses?

Yes, employers are required to pay a mid-year and year-end bonus (prima de servicios) equivalent to one month’s salary, paid in two installments.

Is there a payroll tax in Colombia?

Employers must pay a 9% payroll tax, which covers contributions to family welfare, training, and public education services.

United States Services

Taxes

We offer full tax services to ensure compliance with IRS.

Bookkeeping

Our bookkeeping services keep your financial records organized.

Payroll

Simplify payroll with our comprehensive, compliant solutions.