First, let us talk about Loose Leaf Bookkeeping. This is one of the Bureau of Internal Revenue’s (BIR) prescribed way of recording books of accounts. One of the commonly used Loose Leaf Bookkeeping application is

New business owners often think of what must he possess in order to succeed? Are capital and people enough to sustain a business? Definitely not! So here is the Top 10 Business Must Have that every business needs to take note of...

Some companies think that an Accounting System that includes Financial Management, Sales and Customer Management, Purchasing and Inventory Control, Business Intelligence, Analytics and Reporting and Manufacturing Module...

One of the most significant factors in choosing an Accounting System is whether you want the system to be on premise or in cloud. First, let us know the meaning of On-premise and Cloud-based. What is On-premise? In an Accounting...

There are a lot of Accounting Software available in the market today, there’s SAP Business One, Oracle Netsuite, Zoho, QNE Optimum, Quickbooks and the list goes on. Due to the fast-paced advancement in technology and...

Technology advancement and company’s adaptability in computers make way on development of ERP Software that can be used by organization in to their transactions. And it is called Enterprise Resource Planning or ERP...

Enterprise Resource Planning is a unified management of business processes. Such management is using an ERP Software with real-time posting. ERP System is very important to Large Companies because in can generate data for analysis....

ERP Software has a lot of modules to offer but what are the modules that are often very important to a business when acquiring an ERP Software. Here is the list: 1. PROJECT MANAGEMENT MODULE IN ERP SOFTWARE...

ERP SOFTWARE HAS A LOT OF BENEFITS FOR A COMPANY BUT HERE ARE THE TOP 5 BENEFITS OF AN ERP SOFTWARE. 1. PRODUCTIVITY An ERP Software helps in recording transactions or doing

There are many considerations in knowing how much and ERP Software would cost, there’s the size of the business, business requirements and how big is the coverage of the ERP Software to the company. By knowing the these factors the decision...

First, what is BIR Form 2316? It is the Certificate of Compensation Payment or Income Tax Withheld. Employers are required to withhold taxes from employee’s salary based on the latest TRAIN Law which must reflect in the BIR Form 2316...

Certificate of Creditable Tax Withheld At Source or commonly known as BIR Form 2307 displays the income subjected to expanded withholding tax paid by the withholding agent. In the Books of Accounts, it is accounted for as an asset...

BIR Form 1601-EQ is the Quarterly Remittance Return of Creditable Income Taxes Withheld (Expanded) for every third month of each taxable year. BRIEF BACKGROUND The Bureau of Internal Revenue (BIR) issued Revenue Memo...

Expanded Withholding Tax or EWT is a kind of Withholding Tax imposed on income payments and is creditable against the income tax due of the payee for the taxable quarter/year in which the income was earned.

Heads up! There is a new SSS Contribution Table for 2019! Under the Circular No. 2019-005 addressed to All Employers (ER), Employees (EE), Self-employed, Voluntary and Non-working spouse members there will be....

BIR Deadline is almost near! All Taxpayers are required to pass their Annual Tax Returns on or before April 15. Bureau of Internal Revenue has set the standard that every April 15th of the Year, Taxpayers must submit the individual Annual Income Tax Return (ITR) and

Imagine a company with more than 250 Employees, each employee is using a computer and they are working hand in hand towards achieving the same business goal, but each computer is...

WHAT IS A COMPUTERIZED ACCOUNTING SYSTEM (CAS)? As per Bureau of Internal Revenue (BIR) website, CAS refers to the integration of different component systems to produce computerized books of accounts and computer-generated accounting...