Submission of computerized books of accounts to bir

The persistence of manual bookkeeping taxwise or otherwise. For bir approved looseleaf books, taxpayer must submit to the bir bounded books of account for the taxable year on or before january 15. Mark for submitted documents and x for lacking documents. The issue is that it remains unclear whether this practice is considered substantially in compliance with the bookkeeping requirements of the bureau of internal revenue bir under revenue regulations rr vi or rr v1. It has been observed that the different revenue district offices rdos of the bureau adopt differing rules and procedures with respect to the registration of. Registration of permanently bound computergeneratedloose leaf books of accounts and other accounting records. For those companies using a calendar year for its operations, books of accounts are to be submitted in january. The 15 days after the end of the calendar year deadline under rmc 82 refers to looseleaf bound books of accounts and not to manual books of accounts. You will need to print, bind and submit your books of accounts that are generated from your spreadsheets or software to your respective bir revenue district office rdo by january 15 of every year. On august 3, 2000, the bureau of internal revenue bir issued revenue memorandum order rmo 212000, which basically prescribes the policies and procedures in the processing and approval of taxpayer. Computerized book of account is an accounting program that facilitate efficient and fast record keeping. There are three 3 kinds of books of accounts for our bookkeeping compliance in bir. The bureau of internal revenue bir recently issued revenue memorandum circular no.

Computerized accountingsystem accreditation and issuance. Bir form 1900 application to use looseleaf computerized books of accounts andor accounting records this is for freelancers and professionals who want to use looseleaf, computerized books of accounts, or accounting records. These same books are also presented to external auditors which the latter use for their audit. The bir allows three types of books of accounts 1 manual books of accounts, 2 computerized books of accounts, and 3 looseleaf books of accounts.

And sample printouts may need to be bookbound before submission to bir for stamping. This pertains to the use of electronic systems or the computerized accounting system cas for recordkeeping, maintenance of records and books of accounts. The particular accounting record for looseleaf accounting records. There you go, i hope that you learn something in this article that can save you from unnecessary tax penalties. A looseleaf books of accounts and accounting records manual cash disbursement book b complete computerized accounting system accts. However, large taxpayers duly notified by the bir are mandated to use computerized accounting system. Of these three, the most advisable for big operations is the computerized books of accounts generated by duly approved computerized accounting. For application for authority to use looseleaf books of accounts and or accounting records manual application only 1. Registration of computerized books of accounts and other accounting records together with affidavit attesting the completeness of the computerized accounting booksrecords january 30 or 30 days after the end of the fiscal year. A comprehensive guide to bir forms for freelancers and sole.

Everything you need to know about bookkeeping book of. Manual books of account are the traditional journal, ledger and columnar books you can buy in the book and office supplies store. Oct 20, 2006 submission of taxpayer accounting records in electronic form for bir examination the books of accounts and other accounting records in electronic format that were submitted and registered with the concerned bir office within thirty 30 days from the close of the taxable year pursuant to revenue memorandum order rmo no. Suspending the requirement for permit to use ptu computerized accounting system cas, computerized books of accounts cba andor components thereof and allowing their use subject to compliance requirement. A comprehensive guide to bir forms for freelancers and. Processing of transactions commence only upon submission of complete documents. The bir issuance of the rmo 822008 has been greatly appreciated by most taxpayers, public practitioners, and tax consultants who are aware of the provisions stated therewith. It is worth mentioning that due to the fast pace of technological improvement, several businesses, including small and mediumsized enterprises, have adopted the computerized accounting system cas. Bir suspends requirement to secure permit to use computerized. Submission of computerized books of account the deadline for submission of computerized books of accounts and other accounting records in cdr, dvdr, or other optical media for the year ended dec. Those businesses that have opted to submit their accounting books to the bir via the computerized books of accounts system must submit their books and other accounting records and relevant media in soft copy cdr, dvdr for the year ending 31 december 2018. Registration must be accomplished on an annual basis, on or before january 31st. Initial application to adopt cas and or components thereof accomplished bir form 1900 application for authority to adopt computerized accounting system cas andor components thereoflooseleaf books of accounts, 2002 enhanced version andor bir form 1907 application for permit to use cash register machinepoint of sale machine, 2002. Often referred to as journals or what you call l edgers, transactions in these books of account are.

All persons engaged in trade or business, or in the practice of profession registered with the bureau of internal revenue bir are required to maintain books of accounts. Aug 08, 2018 and sample printouts may need to be bookbound before submission to bir for stamping. Documentary requirements ahc certified public accountants. Formats of books of accounts explained philippines bir tax. Three 3 kinds of books of accounts under 1997 tax code. Sample formats of journals and ledgers for looseleaf books of accounts. Permit to use looseleaf books of accounts grant thornton. File the proper tax forms specifically, file a bir form 1900 application for authority to adopt computerized accounting system or components thereoflooseleaf books of accounts, 2002 enhanced version andor bir form 1907 application for permit to use cash register machinepoint of sale machine, 2002 enhanced version.

These are the acceptable formats for books of accounts. And sample printouts may need to be book bound before submission to bir for stamping. Payable book with einvoicing without einvoicing accts. Manual books of accounts are not required for annual submission to bir unless all pages of the. Recording in the manual books of account is handwritten. There are three 3 different types on how to file your books at the bir. When it comes to the bureau of internal revenue bir, registering the books of accounts is an important requirement. Books of accounts of taxpayers in the philippines tax and. As a requirement of the bir, make sure to keep a hardcopy of your book of accounts, subsidiary books, and other accounting records up until 5 years and preserved up to 10 years from. Dec 10, 2015 there are no deadlines of registering the manual books of accounts, but the manual books of accounts should be registered before its use. Annex a application for authority to use computerized. Cas, computerized books of accounts cba andor components. March 2016 bir tax deadlines vertaccount philippines. Nov 14, 2017 looseleaf books of accounts and computerized books of accounts.

The bir will require you to register your book of accounts when you apply for a certificate of registration. Reminder on yearend compliance mpm consulting services inc. Registration of book of accounts bureau of internal revenue. Under the regulations, computerized accounting booksrecords required for submission to the bir will be stored in recordable compact discs cdr, digital video discs dvdr or other optical media, depending on the volume of the transactions or size of the business, and in a format that is readable by the bir audit tools, as specified in the. Looseleaf books of accounts and computerized books of accounts. Bir accredited accounting system fasttrack solutions inc. Registration of manual of books of accounts blogger. Jan 14, 2019 computerized books of accounts30 january 2019. Looseleaf books of account are printed and bounded journals and ledgers. Newly registered taxpayers shall present the manual books of accounts to the rdo or concerned office under the large taxpayer service where the place of business is located for approval and registration before the deadline for filing of the first quarterly income tax return or the annual income tax return whichever comes earlier. Register your business establishment at the revenue district office that has jurisdiction over your head office or branch.

Philippines the bureau of internal revenue issued a revenue memorandum circular 822008 to simplify the registration of manual books of accounts and to establish uniformity of procedures among the bir district offices the dilemma. Requirements if you are just starting with your business 1. It is the taxpayer who determines which of the three types would he adopt. I am really confused whether taxpayers need to have their books of accounts with still unused pages restamped by bureau of internal revenue bir. Everything you need to know about bookkeeping book of accounts. First published in business world 103020 last week, we wrote about the new bureau of internal revenue bir rule revenue regulations rr no. If you decide to go with this, the system you should use should be birregistered. Dec 23, 20 with the misinterpretations on registration procedures, the bir has issued the revenue memorandum circular no. These books use computerbased apps that enable efficient and fast record keeping.

Bir accepts manual, looseleaf, and computerized books of accounts if they contain the following documents. The registered taxpayer determines which type to adopt as allowed by bir 1 manual books of accounts, 2 computerized books of accountscomputerized accounting systems. Frequently asked questions computerized accounting system bir. Frequently asked questions computerized accounting. The integration of different component systems to produce computerized books of accounts and computergenerated accounting records and documents. Bir registration of taxpayers manual books of accounts. The requirement of binding and stamping of a hardbound computerized books of accounts, receipts and invoices and other accounting records shall no longer be necessary provided that the taxpayer shall submit an affidavit on the post reporting requirements for computerized accounting system bir cas in lieu of hardbound computer generated books of accounts, receipts and invoices and other. This is the most of popular type of books of account for small enterprises since it is less costly and easy to register with the bir. Esquivias iv, issued revenue memorandum circular rmc no. Receivable book c computerized books of accounts others specify general journal disbursement book sales book others specifye purchase book. A taxpayer can choose manual books, looseleaf, or computerized books of accounts. Submission of taxpayer accounting records in electronic form for bir examination the books of accounts and other accounting records in electronic format that were submitted and registered with the concerned bir office within thirty 30 days from the close of the taxable year pursuant to revenue memorandum order rmo no. The deadlines for submission would vary on what type of books of accounts the company maintains.

The integration of different component systems to produce computerized books of accounts and computer generated accounting records and documents. Examples of these books include quickbooks, peachtree, and myob. Application for authority to use computerized accounting. Specifically, this revenue regulation is relevant for large taxpayers, which since january 2010 have been required by the bir to maintain a computerized accounting system. Showing posts with label computerized books of accounts. Looseleaf books of accounts are due for submission on the 15th, while the computerized books of accounts are due on the 30th. Computerized books of account businesses using computerized books as approved by the bir shall submit their books for the taxable year, in cdr, dvdr or other optical media form within 30 days from the close of each fiscal year on or before jan. Jan 07, 2015 the bir will require you to register your book of accounts when you apply for a certificate of registration. As per bir guidelines, a registered taxpayer should choose between three formats namely 1 manual books of account, 2 looseleaf books of account and 3 computerized books of account or simply known as cas.

Bir form 1906 application for authority to print receipts and invoices. Mar 12, 2015 these same books are also presented to external auditors which the latter use for their audit. The registered taxpayer determines which type to adopt as allowed by bir 1 manual books of accounts, 2 computerized books of accountscomputerized accounting systems cas, or 3 looseleaf books of accounts. Apr 27, 2018 bir form 1900 application to use looseleaf computerized books of accounts andor accounting records this is for freelancers and professionals who want to use looseleaf, computerized books of accounts, or accounting records. As required by the philippine tax code, taxpayers may maintain books of accounts in manual, looseleaf, or computerized form. If you miss the deadline, the penalty ranges between php 1,000 25,000. Initial application to adopt cas and or components thereof accomplished bir form 1900 application for authority to adopt computerized accounting system cas andor components thereoflooseleaf books of accounts, 2002 enhanced version andor bir form 1907 application for permit to use cash register machinepoint of sale machine, 2002 enhanced version. Dec 15, 2009 i am really confused whether taxpayers need to have their books of accounts with still unused pages restamped by bureau of internal revenue bir. For bir approved computerized books, taxpayer must submit to the bir in cdr, dvdr or other optical media for the taxable year on or before january 30. Registration of computerized books of accounts and other accounting records together with affidavit attesting the completeness of the computerized accounting books records january 30 or 30 days after the end of the fiscal year.

Registration of manual books of accounts new or subsequent 1 bir form no. Quezon city, 20 january, 2010 at this age when electronic records are more of a necessity than a luxury, the bureau of internal revenue bir has mandated its large taxpayers to maintain andor adopt a computerized accounting system cas for keeping records, books of accounts, and other sources of information under the national internal. C computerized books of accounts others specify general journal disbursement book sales book others. In addition to that, youre required to keep you books of accounts at least 10 years.